Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sinclair Inc shares valued at $279,592 were sold by BOCHENEK DAVID R on Mar 11 ’24. At $13.44 per share, BOCHENEK DAVID R sold 20,803 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, KEITH DANIEL C sold 30,086 shares, netting a total of over 408,442 in proceeds. Following the sale of shares at $13.58 each, the insider now holds 30,000 shares.
Before that, Gibber David B had sold 20,607 shares from its account. In a trade valued at $274,743, the SVP & General Counsel traded Sinclair Inc shares for $13.33 each. Upon closing the transaction, the insider’s holdings decreased to 20,607 shares, worth approximately $31690.74.
As published in a research note from JP Morgan on December 08, 2022, Sinclair Inc [SBGI] has been rated down from a Neutral to an Underweight and the price target has been revised to $16 from $25. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Underweight”‘ outlook in a report released in early November. As of May 05, 2022, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for SBGI. Earlier on April 19, 2022, Rosenblatt initiated its rating. Their recommendation was “a Neutral” for SBGI stock.
Analyzing SBGI Stock Performance
During the last five days, there has been a surge of approximately 22.26%. Over the course of the year, Sinclair Inc shares have jumped approximately 24.79%. Shares of the company reached a 52-week high of $17.58 on 01/25/24 and a 52-week low of $11.35 on 03/19/24. A 50-day SMA is recorded $12.79, while a 200-day SMA reached $13.01. Nevertheless, trading volume fell to 1.88 million shares from 0.25 million shares the previous day.
Support And Resistance Levels for Sinclair Inc (SBGI)
According to the 24-hour chart, there is a support level at 15.11, which, if violated, would cause prices to drop to 13.96. In the upper region, resistance lies at 16.88. The next price resistance is at 17.50. RSI (Relative Strength Index) is 75.71 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.27, which suggests the price will increase in the coming days. Percent R is at 2.03%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
