Sinclair (NASDAQ:SBGI) Shares Down 10%

Sinclair, Inc. (NASDAQ:SBGI) traded down 10% on Monday . The company traded as low as $12.07 and last traded at $12.18. 114,082 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 423,450 shares. The stock had previously closed at $13.54.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Sinclair from a “sell” rating to a “hold” rating in a report 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.14.

Sinclair Stock Performance

The company has a market capitalization of $831.88 million, a PE ratio of -1.76, a PEG ratio of 0.28 and a beta of 1.56. The company has a debt-to-equity ratio of 15.29, a quick ratio of 1.42 and a current ratio of 1.42. The company has a 50 day moving average price of $13.38 and a 200 day moving average price of $13.65.

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

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.96%. The ex-dividend date was Monday, June 3rd. Sinclair’s dividend payout ratio (DPR) is presently -14.04%.

Institutional Investors Weigh In On Sinclair

Hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC bought a new stake in Sinclair in the second quarter worth about $28,000. Fidelis Capital Partners LLC bought a new stake in Sinclair in the first quarter worth about $49,000. NBC Securities Inc. raised its position in Sinclair by 35.1% in the fourth quarter. NBC Securities Inc. now owns 3,845 shares of the company’s stock worth $50,000 after acquiring an additional 1,000 shares in the last quarter. EntryPoint Capital LLC raised its holdings in Sinclair by 37.2% during the 1st quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock worth $54,000 after buying an additional 1,085 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new stake in Sinclair during the 1st quarter worth about $76,000. 41.71% of the stock is currently owned by institutional investors.

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.