Sinclair, Inc. (NASDAQ:SBGI) Given Average Rating of “Hold” by Brokerages

Shares of Sinclair, Inc. (NASDAQ:SBGI) have earned a consensus rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $19.00.

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Guggenheim upped their target price on Sinclair from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Sinclair in a research note on Monday, December 29th. Finally, Zacks Research upgraded Sinclair from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th.

Insider Buying and Selling

In related news, Director Benson E. Legg sold 6,548 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $15.81, for a total value of $103,523.88. Following the sale, the director owned 71,165 shares in the company, valued at $1,125,118.65. This represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Howard E. Friedman sold 14,713 shares of Sinclair stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $15.11, for a total transaction of $222,313.43. Following the sale, the director owned 77,685 shares of the company’s stock, valued at approximately $1,173,820.35. The trade was a 15.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 50,637 shares of company stock valued at $815,535 over the last quarter. 41.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in Sinclair by 5.7% during the 1st quarter. AQR Capital Management LLC now owns 41,993 shares of the company’s stock worth $656,000 after purchasing an additional 2,258 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Sinclair by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,082 shares of the company’s stock worth $304,000 after buying an additional 780 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Sinclair by 134.7% during the first quarter. Acadian Asset Management LLC now owns 11,525 shares of the company’s stock worth $182,000 after acquiring an additional 6,615 shares during the period. Allianz Asset Management GmbH acquired a new stake in Sinclair during the second quarter worth about $602,000. Finally, Alpha Wealth Funds LLC purchased a new position in Sinclair during the second quarter valued at approximately $515,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Sinclair Price Performance

Shares of NASDAQ SBGI opened at $15.08 on Thursday. Sinclair has a fifty-two week low of $11.89 and a fifty-two week high of $17.88. The company has a market cap of $1.05 billion, a PE ratio of -24.32 and a beta of 0.96. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.01 and a current ratio of 2.01. The business has a 50-day simple moving average of $15.11 and a two-hundred day simple moving average of $14.62.

Sinclair Company Profile

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.