Sinclair (NASDAQ:SBGI) Trading Down 5.4%

Sinclair, Inc. (NASDAQ:SBGI) shares fell 5.4% on Wednesday . The company traded as low as $12.28 and last traded at $12.35. 64,960 shares were traded during mid-day trading, a decline of 84% from the average session volume of 417,787 shares. The stock had previously closed at $13.05.

Sinclair Stock Performance

The company has a debt-to-equity ratio of 14.93, a quick ratio of 1.78 and a current ratio of 1.78. The company has a 50-day simple moving average of $13.88 and a 200-day simple moving average of $13.23.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.40. The business had revenue of $829.00 million for the quarter, compared to analysts’ expectations of $836.65 million. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted ($1.09) EPS. As a group, equities research analysts forecast that Sinclair, Inc. will post 4.57 EPS for the current year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.69%. The ex-dividend date is Friday, August 30th. Sinclair’s dividend payout ratio (DPR) is -14.04%.

Institutional Trading of Sinclair

Several large investors have recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in shares of Sinclair during the 2nd quarter worth approximately $28,000. Fidelis Capital Partners LLC acquired a new position in shares of Sinclair in the first quarter worth $49,000. NBC Securities Inc. raised its holdings in shares of 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 during the last quarter. EntryPoint Capital LLC increased its position 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 purchasing an additional 1,085 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Sinclair by 1,039.0% during the 2nd quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock worth $62,000 after purchasing an additional 4,239 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.