Sinclair, Inc. (NASDAQ:SBGI) Short Interest Down 16.6% in November

Sinclair, Inc. (NASDAQ:SBGI) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 2,560,000 shares, a drop of 16.6% from the October 31st total of 3,070,000 shares. Based on an average trading volume of 374,800 shares, the days-to-cover ratio is presently 6.8 days. Currently, 6.7% of the company’s shares are sold short.

Institutional Trading of Sinclair

Institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in shares of Sinclair during the 2nd quarter worth $28,000. GAMMA Investing LLC grew its position in Sinclair by 81.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $35,000 after purchasing an additional 1,026 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Sinclair in the 3rd quarter valued at $39,000. Headlands Technologies LLC grew its stake in shares of Sinclair by 1,039.0% during the second quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock valued at $62,000 after purchasing an additional 4,239 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Sinclair during the third quarter worth $91,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Sinclair Price Performance

Sinclair stock opened at $18.32 on Monday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -5.55, a PEG ratio of 0.16 and a beta of 1.53. Sinclair has a 1 year low of $11.13 and a 1 year high of $18.45. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a 50 day moving average price of $16.61 and a 200 day moving average price of $14.54.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.54. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The firm had revenue of $917.00 million for the quarter, compared to the consensus estimate of $923.02 million. During the same quarter in the previous year, the firm posted ($0.30) EPS. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. Sell-side analysts predict that Sinclair will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 5.46%. Sinclair’s dividend payout ratio is presently -30.30%.

Analyst Upgrades and Downgrades

SBGI has been the subject of a number of research reports. Guggenheim lifted their price objective on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Benchmark boosted their price target on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. StockNews.com raised Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Rosenblatt Securities boosted their price target on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company raised Sinclair from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $13.00 to $19.00 in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.10.

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.