Sinclair (NASDAQ:SBGI) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Sinclair, Inc. (NASDAQ:SBGI)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.92 and traded as high as $17.13. Sinclair shares last traded at $17.06, with a volume of 184,151 shares.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SBGI shares. Benchmark upped their price objective on Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Rosenblatt Securities raised their price target on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Sinclair presently has a consensus rating of “Hold” and an average target price of $19.88.

Sinclair Stock Down 0.5 %

The stock’s 50-day moving average price is $15.18 and its 200-day moving average price is $13.94. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 14.93. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -3.18, a P/E/G ratio of 0.14 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.40. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The business had revenue of $829.00 million for the quarter, compared to analyst estimates of $836.65 million. During the same quarter in the previous year, the business earned ($1.09) earnings per share. Sinclair’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts expect that Sinclair, Inc. will post 4.57 earnings per share for the current year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.79%. The ex-dividend date of this dividend was Friday, August 30th. Sinclair’s dividend payout ratio (DPR) is -18.28%.

Hedge Funds Weigh In On Sinclair

A number of institutional investors and hedge funds have recently made changes to their positions in SBGI. nVerses Capital LLC acquired a new position in shares of Sinclair during the second quarter worth approximately $28,000. GAMMA Investing LLC raised its holdings in Sinclair by 81.6% during the third quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $35,000 after buying an additional 1,026 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Sinclair during the third quarter worth $39,000. Fidelis Capital Partners LLC bought a new position in shares of Sinclair in the first quarter valued at $49,000. Finally, EntryPoint Capital LLC grew its holdings in shares of Sinclair by 37.2% during the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock valued at $54,000 after buying an additional 1,085 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.