Sinclair (NASDAQ:SBGI) Trading Up 6.3% – Time to Buy?

Sinclair, Inc. (NASDAQ:SBGI) shares traded up 6.3% during trading on Wednesday . The company traded as high as $14.75 and last traded at $14.6750. Approximately 107,792 shares were traded during trading, a decline of 77% from the average daily volume of 463,505 shares. The stock had previously closed at $13.81.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft set a $17.00 target price on Sinclair in a research report on Wednesday, April 15th. Weiss Ratings upgraded Sinclair from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. cut their price objective on shares of Sinclair from $15.00 to $14.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 1st. Wall Street Zen raised shares of Sinclair from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Guggenheim decreased their price objective on shares of Sinclair from $20.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sinclair currently has a consensus rating of “Hold” and an average target price of $19.20.

Sinclair Stock Up 6.0%

The company has a market cap of $1.06 billion, a P/E ratio of 16.25 and a beta of 1.04. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 11.10. The firm has a fifty day moving average price of $14.08 and a 200 day moving average price of $14.49.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.96. The firm had revenue of $807.00 million during the quarter, compared to analysts’ expectations of $792.63 million. Sinclair had a net margin of 2.00% and a negative return on equity of 12.62%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted ($2.30) EPS. Equities research analysts forecast that Sinclair, Inc. will post 1.68 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th were issued a $0.25 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.00 annualized dividend and a yield of 6.8%. Sinclair’s dividend payout ratio (DPR) is currently 111.11%.

Insiders Place Their Bets

In other news, Director Daniel C. Keith sold 17,000 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $15.02, for a total value of $255,340.00. Following the transaction, the director owned 25,122 shares of the company’s stock, valued at approximately $377,332.44. This trade represents a 40.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 42.10% of the company’s stock.

Institutional Trading of Sinclair

Institutional investors have recently bought and sold shares of the business. Empowered Funds LLC acquired a new stake in shares of Sinclair during the first quarter worth $191,000. Converium Capital Inc. boosted its holdings in Sinclair by 15.8% during the first quarter. Converium Capital Inc. now owns 1,062,452 shares of the company’s stock worth $13,748,000 after buying an additional 144,674 shares during the last quarter. Bank of America Corp DE grew its position in shares of Sinclair by 82.6% during the 1st quarter. Bank of America Corp DE now owns 86,137 shares of the company’s stock worth $1,115,000 after buying an additional 38,962 shares during the period. Waverly Advisors LLC acquired a new stake in shares of Sinclair in the 1st quarter valued at approximately $157,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in Sinclair by 3.6% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 29,000 shares of the company’s stock valued at $375,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Company Profile

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.