Sinclair (NASDAQ:SBGI) Stock Price Up 7.8%

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

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.14.

Sinclair Stock Up 8.4 %

The company’s fifty day moving average is $12.89 and its 200 day moving average is $13.48. 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 announced its earnings results on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of ($0.54) by $0.97. Sinclair had a negative net margin of 14.34% and a negative return on equity of 2.65%. The business had revenue of $798.00 million during the quarter, compared to analysts’ expectations of $798.68 million. As a group, equities research analysts predict that Sinclair, Inc. will post 3.75 EPS for the current year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.25 dividend. 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 dividend payout ratio is currently -14.04%.

Institutional Trading of Sinclair

A number of large investors have recently added to or reduced their stakes in SBGI. Fidelis Capital Partners LLC acquired a new stake in Sinclair in the first quarter valued at $49,000. NBC Securities Inc. lifted its stake in Sinclair by 35.1% in the fourth quarter. NBC Securities Inc. now owns 3,845 shares of the company’s stock valued at $50,000 after acquiring an additional 1,000 shares during the last quarter. EntryPoint Capital LLC lifted its stake in Sinclair by 37.2% in the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock valued at $54,000 after acquiring an additional 1,085 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Sinclair in the first quarter valued at $76,000. Finally, Russell Investments Group Ltd. acquired a new stake in Sinclair in the fourth quarter valued at $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.