Sinclair (NASDAQ:SBGI) Stock Price Up 4.2% Following Analyst Upgrade

Sinclair, Inc. (NASDAQ:SBGI) shares shot up 4.2% during trading on Friday after Rosenblatt Securities raised their price target on the stock from $16.40 to $16.50. Rosenblatt Securities currently has a neutral rating on the stock. Sinclair traded as high as $14.68 and last traded at $14.65. 102,195 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 418,912 shares. The stock had previously closed at $14.06.

Institutional Investors Weigh In On Sinclair

Several institutional investors have recently bought and sold shares of SBGI. nVerses Capital LLC purchased a new stake in shares of Sinclair during the 2nd quarter valued at $28,000. Fidelis Capital Partners LLC purchased a new position in Sinclair during the 1st quarter worth $49,000. 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 valued at $54,000 after buying an additional 1,085 shares in the last quarter. Headlands Technologies LLC raised its stake in Sinclair by 1,039.0% in the second quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock valued at $62,000 after buying an additional 4,239 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in Sinclair in the first quarter worth about $76,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Sinclair Price Performance

The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 14.93. The firm has a market cap of $970.83 million, a PE ratio of -2.06, a price-to-earnings-growth ratio of 0.12 and a beta of 1.54. The stock has a 50 day moving average price of $13.90 and a two-hundred day moving average price of $13.22.

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

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.82%. The ex-dividend date of this dividend was Friday, August 30th. Sinclair’s payout ratio is -14.04%.

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.