Sinclair (NASDAQ:SBGI) Shares Gap Down – Should You Sell?

Sinclair, Inc. (NASDAQ:SBGI)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $16.96, but opened at $16.35. Sinclair shares last traded at $16.43, with a volume of 24,065 shares.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SBGI. Guggenheim lowered their target price on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, March 10th. StockNews.com lowered Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Benchmark reiterated a “buy” rating and issued a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their price objective on Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.30.

Sinclair Trading Down 1.9 %

The company has a market capitalization of $1.11 billion, a P/E ratio of -5.04 and a beta of 1.50. The company has a 50-day simple moving average of $14.82 and a 200 day simple moving average of $15.76. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $1.99 by $0.62. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. Sell-side analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.01%. The ex-dividend date of this dividend is Monday, March 10th. Sinclair’s dividend payout ratio is 21.46%.

Insider Activity at Sinclair

In other Sinclair news, Chairman David D. Smith acquired 30,296 shares of Sinclair stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $14.09 per share, with a total value of $426,870.64. Following the completion of the purchase, the chairman now owns 728,986 shares in the company, valued at $10,271,412.74. This trade represents a 4.34 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 244,639 shares of company stock valued at $3,550,290 in the last 90 days. 46.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sinclair

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Sinclair by 26.9% during the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Sinclair by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company’s stock valued at $295,000 after purchasing an additional 760 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock valued at $121,000 after purchasing an additional 1,700 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Sinclair by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,500 shares of the company’s stock valued at $590,000 after purchasing an additional 2,035 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Sinclair by 8.5% in the fourth quarter. Wells Fargo & Company MN now owns 33,548 shares of the company’s stock valued at $541,000 after purchasing an additional 2,620 shares during the last quarter. Institutional investors 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.