Sinclair (NASDAQ:SBGI) Stock Rating Lowered by StockNews.com

Sinclair (NASDAQ:SBGI) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Separately, Rosenblatt Securities boosted their target price on Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research report on Friday.

Sinclair Trading Up 4.3 %

Shares of SBGI stock opened at $14.67 on Friday. Sinclair has a fifty-two week low of $9.39 and a fifty-two week high of $17.58. The company has a debt-to-equity ratio of 14.93, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a 50 day simple moving average of $13.90 and a two-hundred day simple moving average of $13.22. The company has a market cap of $970.83 million, a P/E ratio of -2.06, a PEG ratio of 0.12 and a beta of 1.54.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 earnings per share for the quarter, beating 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 negative net margin of 10.78% and a positive return on equity of 22.55%. Sinclair’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.09) EPS. Research analysts forecast that Sinclair will post 4.57 earnings per share for the current year.

Institutional Investors Weigh In On Sinclair

Institutional investors and hedge funds have recently made changes to their positions in the business. Gamco Investors INC. ET AL raised its position in Sinclair by 2.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,591,266 shares of the company’s stock valued at $48,374,000 after buying an additional 85,070 shares during the last quarter. Capital Management Corp VA grew its stake in shares of Sinclair by 36.7% in the 1st quarter. Capital Management Corp VA now owns 2,006,720 shares of the company’s stock worth $27,031,000 after acquiring an additional 538,740 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Sinclair by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock worth $24,626,000 after acquiring an additional 78,793 shares in the last quarter. Alden Global Capital LLC raised its holdings in shares of Sinclair by 10.5% in the second quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock valued at $16,341,000 after purchasing an additional 116,074 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of Sinclair by 1.7% during the second quarter. Gabelli Funds LLC now owns 1,208,700 shares of the company’s stock valued at $16,112,000 after purchasing an additional 20,700 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.