Sinclair (NASDAQ:SBGI) Trading 7.1% Higher

Sinclair, Inc. (NASDAQ:SBGI) traded up 7.1% during trading on Friday . The stock traded as high as $14.21 and last traded at $14.21. 197,749 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 708,483 shares. The stock had previously closed at $13.27.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Guggenheim decreased their price target on Sinclair from $30.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. StockNews.com initiated coverage on shares of Sinclair in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Sinclair from $18.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, August 15th. Benchmark reaffirmed a “buy” rating and issued a $25.00 price target on shares of Sinclair in a report on Wednesday, August 23rd. Finally, Rosenblatt Securities dropped their price objective on Sinclair from $18.60 to $13.50 and set a “neutral” rating for the company in a research note on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $17.75.

Sinclair Stock Performance

The company’s 50-day moving average price is $11.53 and its two-hundred day moving average price is $13.23. The stock has a market cap of $917.08 million, a PE ratio of 11.02, a PEG ratio of 2.04 and a beta of 1.47. The company has a debt-to-equity ratio of 7.10, a quick ratio of 2.33 and a current ratio of 2.33.

Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.93%. The ex-dividend date is Thursday, November 30th. Sinclair’s dividend payout ratio (DPR) is currently 76.34%.

Insider Transactions at Sinclair

In other news, Director Howard E. Friedman bought 12,053 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was bought at an average price of $9.71 per share, for a total transaction of $117,034.63. Following the transaction, the director now directly owns 55,371 shares of the company’s stock, valued at approximately $537,652.41. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 39.60% of the company’s stock.

Hedge Funds Weigh In On Sinclair

Institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its position in Sinclair by 1,068.9% during the fourth quarter. Millennium Management LLC now owns 2,082,069 shares of the company’s stock valued at $32,293,000 after buying an additional 1,903,947 shares during the period. Gamco Investors INC. ET AL grew its position in Sinclair by 18.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 3,444,873 shares of the company’s stock worth $47,608,000 after acquiring an additional 539,312 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Sinclair by 37.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,796,936 shares of the company’s stock worth $24,834,000 after acquiring an additional 489,924 shares during the last quarter. Renaissance Technologies LLC increased its stake in Sinclair by 359.7% in the 1st quarter. Renaissance Technologies LLC now owns 618,571 shares of the company’s stock worth $17,332,000 after purchasing an additional 484,000 shares during the period. Finally, BlackRock Inc. lifted its position in Sinclair by 8.5% in the first quarter. BlackRock Inc. now owns 3,832,576 shares of the company’s stock valued at $65,767,000 after purchasing an additional 301,510 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

Sinclair Company Profile

Sinclair, Inc, a media company, focuses on providing content on local television stations and digital platforms. The company distributes its content through broadcast platforms and third-party platforms that consist of programming provided by third-party networks and syndicators, local news, other original programming, and college sports.