With Wednesday’s Closing Bell on Wall Street, Sinclair Broadcast Group shares entered after-hours trading priced at $52.85.
That’s great, compared to where SBGI was prior to May 6, when news of its regional sports network plans became known.
But, since that news, Sinclair has been mired in the $50 range.
Much of the excitement surrounding Sinclair, at least for investors, waned on May 10.
That’s when SBGI topped out at $61.81.
Growth was forecast to continue, and analysts put a $70.75 1-year target estimate on SBGI — a company far from its imploded merger with Tribune Media.
Analysts continue to see Sinclair as “undervalued,” while Sinclair’s KATV-TV in Little Rock; WGME-TV in Portland, Me.; and WRGB-TV in Albany, N.Y. were singled out for quality journalism by each winning National Edward R. Murrow Awards.
Yet, investors seem lukewarm on Sinclair. Values have not topped $56 since May 21, nor have they surpassed $55 since June 5.
The dip ended June 10, with a $50.51 pricing seen.
That said, where Sinclair goes in the next week is uncertain.
