Sinclair (NASDAQ:SBGI) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Sinclair, Inc. (NASDAQ:SBGI) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.64 and traded as high as $15.39. Sinclair shares last traded at $15.10, with a volume of 258,724 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SBGI shares. Wall Street Zen upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Sinclair in a report on Monday, December 29th. Zacks Research raised Sinclair from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Finally, Guggenheim increased their price target on Sinclair from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.00.

Sinclair Price Performance

The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -24.60 and a beta of 0.96. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 14.77. The stock has a 50-day simple moving average of $15.57 and a 200 day simple moving average of $14.66.

Sinclair (NASDAQ:SBGI) last issued its earnings results on Wednesday, November 5th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.63. The company had revenue of $773.00 million for the quarter, compared to the consensus estimate of $766.78 million. Sinclair had a negative return on equity of 10.19% and a negative net margin of 1.35%.The firm’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. On average, equities research analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.6%. Sinclair’s dividend payout ratio (DPR) is -161.29%.

Insider Transactions at Sinclair

In related news, Director Howard E. Friedman sold 14,713 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $15.11, for a total transaction of $222,313.43. Following the transaction, the director 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David B. Gibber sold 29,376 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $16.67, for a total transaction of $489,697.92. Following the transaction, the executive vice president owned 165,272 shares in the company, valued at approximately $2,755,084.24. This trade represents a 15.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 50,637 shares of company stock valued at $815,535. 41.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Sinclair

Large investors have recently bought and sold shares of the business. Gamco Investors INC. ET AL raised its holdings in Sinclair by 7.7% during the third quarter. Gamco Investors INC. ET AL now owns 4,242,962 shares of the company’s stock valued at $64,069,000 after buying an additional 302,160 shares in the last quarter. Capital Management Corp VA increased its holdings in shares of Sinclair by 6.2% during the 3rd quarter. Capital Management Corp VA now owns 1,655,050 shares of the company’s stock valued at $24,991,000 after acquiring an additional 97,226 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of Sinclair by 9.4% in the 3rd quarter. Gabelli Funds LLC now owns 1,191,313 shares of the company’s stock valued at $17,989,000 after acquiring an additional 102,759 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Sinclair by 15.3% in the 2nd quarter. Geode Capital Management LLC now owns 971,689 shares of the company’s stock valued at $13,431,000 after acquiring an additional 129,277 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in Sinclair by 46.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 668,621 shares of the company’s stock worth $10,096,000 after purchasing an additional 212,040 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors.

About Sinclair

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.