Sinclair (NASDAQ:SBGI) Shares Up 4.2%

Sinclair, Inc. (NASDAQ:SBGI)’s stock price rose 4.2% during mid-day trading on Friday . The stock traded as high as $14.68 and last traded at $14.65. Approximately 102,195 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 418,912 shares. The stock had previously closed at $14.06.

Sinclair Trading Up 8.2 %

The business has a 50 day moving average of $13.90 and a 200 day moving average of $13.21. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -2.08, a PEG ratio of 0.12 and a beta of 1.54. The company has a debt-to-equity ratio of 14.93, a current ratio of 1.78 and a quick ratio of 1.78.

Sinclair (NASDAQ:SBGI) last posted its earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.40. The company had revenue of $829.00 million during the quarter, compared to analyst estimates of $836.65 million. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.09) EPS. As a group, research analysts predict that Sinclair, Inc. will post 4.57 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.57%. The ex-dividend date was Friday, August 30th. Sinclair’s dividend payout ratio (DPR) is -14.04%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBGI. nVerses Capital LLC bought a new position in shares of Sinclair during the 2nd quarter valued at about $28,000. Fidelis Capital Partners LLC bought a new stake in shares of Sinclair in the first quarter valued at about $49,000. EntryPoint Capital LLC boosted its position in shares of Sinclair by 37.2% during the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock worth $54,000 after buying an additional 1,085 shares during the period. Headlands Technologies LLC grew its holdings in shares of Sinclair by 1,039.0% during the second quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock worth $62,000 after buying an additional 4,239 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in Sinclair in the 1st quarter valued at approximately $76,000. 41.71% of the stock is currently 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.