Sinclair (NASDAQ:SBGI) Rating Increased to Hold at StockNews.com

Sinclair (NASDAQ:SBGI) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities analysts have also recently commented on the stock. Rosenblatt Securities boosted their target price on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research report on Friday, September 20th. Benchmark upped their price objective on Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.88.

Sinclair Stock Up 2.6 %

SBGI stock opened at $15.26 on Friday. Sinclair has a fifty-two week low of $9.39 and a fifty-two week high of $17.58. The company has a debt-to-equity ratio of 14.93, a current ratio of 1.78 and a quick ratio of 1.78. The business has a 50-day moving average of $13.88 and a 200-day moving average of $13.28. The stock has a market capitalization of $1.01 billion, a P/E ratio of -2.14, a P/E/G ratio of 0.12 and a beta of 1.54.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.40. The firm had revenue of $829.00 million during 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 company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the company posted ($1.09) earnings per share. On average, sell-side analysts anticipate that Sinclair will post 4.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Empyrean Capital Partners LP acquired a new stake in Sinclair in the 2nd quarter valued at $2,873,000. Alden Global Capital LLC increased its stake in Sinclair by 10.5% in the 2nd quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock worth $16,341,000 after acquiring an additional 116,074 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Sinclair by 1.7% during the 2nd quarter. Gabelli Funds LLC now owns 1,208,700 shares of the company’s stock valued at $16,112,000 after buying an additional 20,700 shares in the last quarter. Hsbc Holdings PLC lifted its position in Sinclair by 28.0% in the 2nd quarter. Hsbc Holdings PLC now owns 13,325 shares of the company’s stock worth $177,000 after buying an additional 2,918 shares during the last quarter. Finally, Williams Financial LLC purchased a new position in shares of Sinclair in the second quarter worth about $217,000. 41.71% of the stock is owned by institutional investors.

About Sinclair

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.