Sinclair (NASDAQ:SBGI – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
A number of other brokerages also recently commented on SBGI. Guggenheim reduced their price objective on shares of Sinclair from $30.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Rosenblatt Securities lifted their price target on shares of Sinclair from $10.40 to $15.70 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Finally, Wells Fargo & Company lifted their price target on shares of Sinclair from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Sinclair presently has an average rating of “Hold” and an average price target of $18.14.
Sinclair Stock Down 2.2 %
NASDAQ:SBGI traded down $0.33 during trading hours on Friday, reaching $14.52. The company’s stock had a trading volume of 435,302 shares, compared to its average volume of 472,043. The company has a market capitalization of $922.17 million, a P/E ratio of -3.01 and a beta of 1.46. Sinclair has a 12 month low of $9.39 and a 12 month high of $21.17. The company has a debt-to-equity ratio of 7.10, a quick ratio of 2.33 and a current ratio of 2.33. The stock has a 50 day moving average price of $14.75 and a two-hundred day moving average price of $13.06.
Sinclair (NASDAQ:SBGI – Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.35. The company had revenue of $826.00 million during the quarter, compared to the consensus estimate of $838.75 million. Sinclair had a negative net margin of 9.29% and a positive return on equity of 21.98%. Sinclair’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Equities analysts predict that Sinclair will post 1.06 EPS for the current fiscal year.
Insider Activity
In other news, SVP David B. Gibber sold 20,607 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $13.33, for a total transaction of $274,691.31. Following the sale, the senior vice president now directly owns 1,949 shares of the company’s stock, valued at $25,980.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 39.60% of the company’s stock.
Institutional Investors Weigh In On Sinclair
Large investors have recently made changes to their positions in the stock. Quarry LP grew its holdings in shares of Sinclair by 101.2% during the first quarter. Quarry LP now owns 1,535 shares of the company’s stock valued at $26,000 after buying an additional 772 shares during the last quarter. FMR LLC boosted its holdings in Sinclair by 448.4% in the third quarter. FMR LLC now owns 2,369 shares of the company’s stock valued at $27,000 after purchasing an additional 1,937 shares during the last quarter. NBC Securities Inc. purchased a new stake in Sinclair in the third quarter valued at $31,000. Tower Research Capital LLC TRC boosted its holdings in Sinclair by 154.3% in the third quarter. Tower Research Capital LLC TRC now owns 4,849 shares of the company’s stock valued at $87,000 after purchasing an additional 2,942 shares during the last quarter. Finally, Point72 Middle East FZE purchased a new stake in Sinclair in the fourth quarter valued at $96,000. 86.19% of the stock is owned by hedge funds and other institutional investors.
Sinclair Company Profile
Sinclair, Inc, a media company, focuses on providing content on local television stations and digital platforms. The company distributes its content through broadcast platforms and third-party platforms that consist of programming provided by third-party networks and syndicators, local news, other original programming, and college sports.