Sinclair (NASDAQ:SBGI) Share Price Crosses Above 50 Day Moving Average – Time to Sell?

Shares of Sinclair, Inc. (NASDAQ:SBGI) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $13.17 and traded as high as $13.71. Sinclair shares last traded at $13.47, with a volume of 689,210 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Sinclair from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, August 21st. Zacks Research raised shares of Sinclair from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 8th. Wall Street Zen lowered shares of Sinclair from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings cut shares of Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.40.

Sinclair Price Performance

The stock has a market capitalization of $974.15 million, a PE ratio of 17.96 and a beta of 1.24. The stock’s 50 day moving average is $13.17 and its two-hundred day moving average is $14.06. The company has a debt-to-equity ratio of 13.28, a quick ratio of 1.94 and a current ratio of 1.94.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.82). Sinclair had a negative return on equity of 16.09% and a net margin of 1.60%. The firm had revenue of $840.00 million during the quarter, compared to analyst estimates of $838.99 million. During the same quarter in the previous year, the firm posted ($0.91) earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that Sinclair, Inc. will post 1.01 EPS for the current fiscal year.

Insider Activity at Sinclair

In other news, EVP David Gibber sold 29,246 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $13.74, for a total value of $401,840.04. Following the transaction, the executive vice president owned 184,244 shares in the company, valued at $2,531,512.56. This trade represents a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 42.10% of the stock is owned by insiders.

Institutional Trading of Sinclair

Large investors have recently made changes to their positions in the company. Capital Management Corp VA raised its stake in Sinclair by 2.1% in the 3rd quarter. Capital Management Corp VA now owns 1,437,884 shares of the company’s stock valued at $18,247,000 after purchasing an additional 28,902 shares during the last quarter. Blueprint Investment Partners LLC acquired a new stake in Sinclair during the 3rd quarter worth $257,000. Blueprint Financial Advisors LLC acquired a new stake in Sinclair during the 3rd quarter worth $257,000. Simplicity Wealth LLC acquired a new stake in Sinclair during the 3rd quarter worth $190,000. Finally, Pinnacle Associates Ltd. boosted its stake in Sinclair by 4.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 774,890 shares of the company’s stock worth $9,833,000 after purchasing an additional 33,457 shares during the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

About Sinclair

Sinclair, Inc is a diversified media company that owns and operates local television stations across the United States. Its broadcast portfolio includes ABC, CBS, FOX, NBC, and other network-affiliated stations, as well as independent stations. Sinclair’s local media operations produce news, weather, sports, and community-focused programming for viewers in markets throughout the country.

The company also develops and distributes national and regional content through cable networks, digital platforms, and streaming services.