Brokerages Set Sinclair, Inc. (NASDAQ:SBGI) PT at $19.00

Shares of Sinclair, Inc. (NASDAQ:SBGI) have earned a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $19.00.

Several analysts have recently commented on SBGI shares. Zacks Research raised Sinclair from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Wall Street Zen cut Sinclair from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reissued a “hold (c-)” rating on shares of Sinclair in a report on Monday, December 29th. Finally, Guggenheim boosted their target price on shares of Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th.

Sinclair Price Performance

Shares of NASDAQ:SBGI opened at $14.96 on Thursday. Sinclair has a 52 week low of $11.89 and a 52 week high of $17.88. The company has a 50-day moving average price of $15.12 and a 200 day moving average price of $14.63. The company has a market cap of $1.04 billion, a P/E ratio of -24.13 and a beta of 0.96. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 14.77.

Insider Buying and Selling

In other Sinclair news, Director Howard E. Friedman sold 14,713 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $15.11, for a total value of $222,313.43. Following the completion of the transaction, the director directly owned 77,685 shares of the company’s stock, valued at approximately $1,173,820.35. This trade represents a 15.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP David B. Gibber sold 29,376 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $16.67, for a total value of $489,697.92. Following the sale, the executive vice president directly owned 165,272 shares in the company, valued at $2,755,084.24. This trade represents a 15.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 50,637 shares of company stock valued at $815,535. Corporate insiders own 46.60% of the company’s stock.

Institutional Trading of Sinclair

Several large investors have recently bought and sold shares of SBGI. Gamco Investors INC. ET AL raised its stake in shares of Sinclair by 7.7% during the 3rd quarter. Gamco Investors INC. ET AL now owns 4,242,962 shares of the company’s stock worth $64,069,000 after buying an additional 302,160 shares during the last quarter. Vanguard Group Inc. grew its stake in Sinclair by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 3,934,311 shares of the company’s stock valued at $60,195,000 after acquiring an additional 220,623 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Sinclair by 23.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,946,274 shares of the company’s stock valued at $29,778,000 after acquiring an additional 373,566 shares in the last quarter. Capital Management Corp VA raised its position in Sinclair by 6.2% during the third quarter. Capital Management Corp VA now owns 1,655,050 shares of the company’s stock worth $24,991,000 after acquiring an additional 97,226 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Sinclair by 5.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,509,006 shares of the company’s stock worth $23,089,000 after acquiring an additional 73,241 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Company Profile

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.