Sinclair (NASDAQ:SBGI) Shares Gap Up to $13.01

Sinclair, Inc. (NASDAQ:SBGI)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $13.01, but opened at $14.00. Sinclair shares last traded at $14.00, with a volume of 61,920 shares traded.

Analysts Set New Price Targets

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

Sinclair Trading Up 4.2 %

The business’s 50 day simple moving average is $11.38 and its two-hundred day simple moving average is $13.31. The stock has a market cap of $885.98 million, a P/E ratio of 10.66, a PEG ratio of 2.00 and a beta of 1.47. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 7.10.

Sinclair Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.16%. Sinclair’s payout ratio is presently 76.34%.

Insider Buying and Selling

In other Sinclair news, Director Howard E. Friedman acquired 12,053 shares of Sinclair stock in a transaction that occurred on Tuesday, October 10th. The shares were bought at an average price of $9.71 per share, with a total value of $117,034.63. Following the completion of the purchase, the director now directly owns 55,371 shares in the company, valued at approximately $537,652.41. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 41.70% of the stock is currently owned by insiders.

Institutional Trading of Sinclair

Institutional investors have recently modified their holdings of the business. Capula Management Ltd bought a new stake in shares of Sinclair in the first quarter worth $510,000. Beacon Investment Advisors LLC boosted its position in Sinclair by 1.6% during the second quarter. Beacon Investment Advisors LLC now owns 61,651 shares of the company’s stock valued at $852,000 after acquiring an additional 1,000 shares during the last quarter. AdvisorShares Investments LLC bought a new stake in Sinclair during the second quarter valued at $284,000. LPL Financial LLC boosted its position in Sinclair by 326.8% during the second quarter. LPL Financial LLC now owns 185,384 shares of the company’s stock valued at $2,562,000 after acquiring an additional 141,952 shares during the last quarter. Finally, Strs Ohio boosted its position in Sinclair by 5.4% during the first quarter. Strs Ohio now owns 40,900 shares of the company’s stock valued at $701,000 after acquiring an additional 2,100 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.