Guggenheim Has Lowered Expectations for Sinclair (NASDAQ:SBGI) Stock Price

Sinclair (NASDAQ:SBGI) had its price objective dropped by research analysts at Guggenheim from $19.00 to $17.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 20.22% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Benchmark restated a “buy” rating and issued a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. StockNews.com downgraded Sinclair from a “buy” rating to a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their target price on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.30.

Sinclair Trading Down 0.1 %

Shares of NASDAQ SBGI traded down $0.01 during midday trading on Monday, hitting $14.14. The stock had a trading volume of 69,158 shares, compared to its average volume of 237,372. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. Sinclair has a fifty-two week low of $11.13 and a fifty-two week high of $18.45. The firm has a market cap of $939.26 million, a P/E ratio of -4.31 and a beta of 1.50. The company’s 50-day simple moving average is $15.04 and its 200 day simple moving average is $15.66.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.62. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. Research analysts anticipate that Sinclair will post 4.24 EPS for the current year.

Insider Buying and Selling at Sinclair

In other Sinclair news, Chairman David D. Smith acquired 30,296 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $14.09 per share, for a total transaction of $426,870.64. Following the acquisition, the chairman now directly owns 728,986 shares of the company’s stock, valued at approximately $10,271,412.74. This trade represents a 4.34 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 46.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Sinclair by 19.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 86,580 shares of the company’s stock valued at $1,397,000 after purchasing an additional 14,344 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Sinclair by 52.9% in the fourth quarter. Point72 Asset Management L.P. now owns 210,939 shares of the company’s stock worth $3,405,000 after purchasing an additional 73,006 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Sinclair by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company’s stock worth $295,000 after purchasing an additional 760 shares during the last quarter. Empyrean Capital Partners LP grew its position in Sinclair by 8.0% in the fourth quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company’s stock valued at $18,472,000 after purchasing an additional 84,493 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new position in Sinclair in the fourth quarter valued at $395,000. Institutional investors own 41.71% of the company’s stock.

About Sinclair

Sinclair, Inc, a media company, provides content on local television stations and digital platforms in the United States. It operates through two segments, Local Media and Tennis. The Local Media segment operates broadcast television stations, original networks, and content; provides free-over-the-air programming and live local sporting events on its stations; distributes its content to multi-channel video programming distributors in exchange for contractual fees; and produces local and original news programs.