Sinclair (NASDAQ:SBGI) Trading Down 3.1%

Sinclair, Inc. (NASDAQ:SBGI)’s share price fell 3.1% on Tuesday . The company traded as low as $12.92 and last traded at $12.97. 13,180 shares were traded during mid-day trading, a decline of 97% from the average session volume of 442,366 shares. The stock had previously closed at $13.38.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Sinclair from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Sinclair has a consensus rating of “Hold” and a consensus price target of $18.14.

Sinclair Stock Performance

The stock has a 50-day moving average price of $12.91 and a 200 day moving average price of $13.49. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 15.29.

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

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.71%. The ex-dividend date of this dividend was Monday, June 3rd. Sinclair’s dividend payout ratio (DPR) is currently -14.04%.

Institutional Trading of Sinclair

A number of hedge funds and other institutional investors have recently made changes to their positions in SBGI. Fidelis Capital Partners LLC purchased a new position in shares of Sinclair during the first quarter worth about $49,000. NBC Securities Inc. boosted its holdings in Sinclair by 35.1% in the 4th quarter. NBC Securities Inc. now owns 3,845 shares of the company’s stock valued at $50,000 after purchasing an additional 1,000 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in Sinclair by 37.2% in the 1st quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock valued at $54,000 after purchasing an additional 1,085 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in Sinclair in the 1st quarter valued at approximately $76,000. Finally, Russell Investments Group Ltd. purchased a new stake in Sinclair in the 4th quarter valued at approximately $117,000. 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.