Sinclair (NASDAQ:SBGI) Shares Up 7.8%

Sinclair, Inc. (NASDAQ:SBGI) shares traded up 7.8% during mid-day trading on Friday . The stock traded as high as $13.36 and last traded at $13.26. 90,047 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 433,783 shares. The stock had previously closed at $12.30.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Sinclair from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. StockNews.com raised 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 issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.14.

Sinclair Trading Up 8.4 %

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 business has a 50-day moving average of $12.87 and a 200-day moving average of $13.47. The firm has a market cap of $882.18 million, a price-to-earnings ratio of -1.83, a P/E/G ratio of 0.23 and a beta of 1.54.

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

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.50%. The ex-dividend date of this dividend was Monday, June 3rd. Sinclair’s payout ratio is currently -14.04%.

Hedge Funds Weigh In On Sinclair

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in Sinclair by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock worth $24,626,000 after purchasing an additional 78,793 shares during the period. Choreo LLC bought a new stake in shares of Sinclair during the fourth quarter worth approximately $2,982,000. AQR Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 241,895 shares during the period. Alden Global Capital LLC boosted its holdings in shares of Sinclair by 86.1% during the fourth quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock worth $8,410,000 after acquiring an additional 298,508 shares during the period. Finally, NBC Securities Inc. boosted its holdings in shares of Sinclair by 35.1% during 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 period. Institutional investors 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.