Sinclair (NASDAQ:SBGI) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Sinclair (NASDAQ:SBGI) from a sell rating to a hold rating in a research note released on Sunday.

Several other research analysts have also recently issued reports on the company. Zacks Research raised Sinclair from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Guggenheim boosted their target price on Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Sinclair in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Sinclair has a consensus rating of “Hold” and a consensus target price of $19.00.

Sinclair Trading Up 0.3%

Shares of NASDAQ:SBGI opened at $14.60 on Friday. Sinclair has a 52 week low of $11.89 and a 52 week high of $17.88. The company’s 50 day moving average is $15.01 and its two-hundred day moving average is $14.64. The company has a market cap of $1.02 billion, a PE ratio of -23.55 and a beta of 0.96. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 14.77.

Insider Buying and Selling

In other Sinclair news, Director Benson E. Legg sold 6,548 shares of Sinclair stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $15.81, for a total transaction of $103,523.88. Following the transaction, the director owned 71,165 shares of the company’s stock, valued at $1,125,118.65. The trade was a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Howard E. Friedman sold 14,713 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $15.11, for a total transaction of $222,313.43. Following the transaction, the director owned 77,685 shares in the company, valued at approximately $1,173,820.35. This trade represents a 15.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 50,637 shares of company stock worth $815,535 in the last quarter. 46.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Sinclair

Several hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its holdings in shares of Sinclair by 142.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock worth $25,000 after buying an additional 1,065 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in shares of Sinclair in the 4th quarter valued at approximately $32,000. Tower Research Capital LLC TRC increased its holdings in shares of Sinclair by 175.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock valued at $41,000 after purchasing an additional 1,882 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of Sinclair during the third quarter worth approximately $48,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Sinclair during the second quarter worth $54,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

About Sinclair

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.