Sinclair (NASDAQ:SBGI) Shares Gap Down to $11.84

Sinclair, Inc. (NASDAQ:SBGI) gapped down before the market opened on Wednesday . The stock had previously closed at $11.84, but opened at $11.58. Sinclair shares last traded at $11.79, with a volume of 13,050 shares.

Wall Street Analysts Forecast Growth

SBGI has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Sinclair from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.14.

Sinclair Stock Performance

The company has a debt-to-equity ratio of 15.29, a current ratio of 1.42 and a quick ratio of 1.42. The company has a 50-day moving average price of $12.86 and a 200-day moving average price of $13.49.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.97. The business had revenue of $798.00 million during the quarter, compared to analysts’ expectations of $798.68 million. Sinclair had a negative net margin of 14.34% and a negative return on equity of 2.65%. Analysts forecast that Sinclair, Inc. will post 3.75 EPS for the current fiscal year.

Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a $0.25 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.00 annualized dividend and a dividend yield of 8.40%. Sinclair’s dividend payout ratio is presently -14.04%.

Institutional Investors Weigh In On Sinclair

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Management Corp VA increased its holdings in Sinclair by 36.7% during the first quarter. Capital Management Corp VA now owns 2,006,720 shares of the company’s stock worth $27,031,000 after buying an additional 538,740 shares during the last quarter. Alden Global Capital LLC lifted its stake in Sinclair by 86.1% in the 4th quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock valued at $8,410,000 after purchasing an additional 298,508 shares during the last quarter. AQR Capital Management LLC grew its holdings in Sinclair by 102.0% during the third quarter. AQR Capital Management LLC now owns 478,946 shares of the company’s stock worth $5,374,000 after purchasing an additional 241,895 shares during the period. Choreo LLC acquired a new position in Sinclair during the fourth quarter worth approximately $2,982,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Sinclair in the first quarter valued at approximately $1,359,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Sinclair Company Profile

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.