Sinclair (NASDAQ:SBGI) Stock Rating Lowered by StockNews.com

Sinclair (NASDAQ:SBGI) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

SBGI has been the topic of a number of other reports. Wells Fargo & Company reduced their target price on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of Sinclair in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Finally, Guggenheim boosted their target price on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.70.

Sinclair Stock Down 1.5 %

Shares of SBGI stock opened at $14.40 on Thursday. The stock has a market cap of $956.46 million, a P/E ratio of -4.36 and a beta of 1.50. Sinclair has a 52 week low of $11.13 and a 52 week high of $18.45. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The company’s fifty day simple moving average is $15.04 and its two-hundred day simple moving average is $15.62.

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

Insider Activity at Sinclair

In other news, Chairman David D. Smith purchased 38,410 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $14.01 per share, for a total transaction of $538,124.10. Following the acquisition, the chairman now owns 645,564 shares of the company’s stock, valued at approximately $9,044,351.64. This trade represents a 6.33 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 46.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sinclair

Large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new stake in Sinclair in the 3rd quarter valued at about $39,000. GAMMA Investing LLC boosted its position in Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after buying an additional 613 shares during the period. Federated Hermes Inc. purchased a new stake in Sinclair in the 4th quarter valued at about $47,000. Point72 DIFC Ltd purchased a new stake in Sinclair in the 3rd quarter valued at about $91,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sinclair in the 3rd quarter valued at about $121,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

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.