David D. Smith Buys 30,296 Shares of Sinclair, Inc. (NASDAQ:SBGI) Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith purchased 30,296 shares of Sinclair stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $14.09 per share, with a total value of $426,870.64. Following the acquisition, the chairman now directly owns 728,986 shares in the company, valued at $10,271,412.74. This trade represents a 4.34 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Sinclair Price Performance

SBGI stock traded up $0.21 during mid-day trading on Thursday, reaching $14.54. The company’s stock had a trading volume of 274,264 shares, compared to its average volume of 231,615. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The company’s 50 day moving average is $15.10 and its two-hundred day moving average is $15.62. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.45. The stock has a market cap of $965.63 million, a PE ratio of -4.41 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $1.99 by $0.62. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Equities research analysts expect that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a $0.25 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.00 annualized dividend and a yield of 6.88%. Sinclair’s payout ratio is 21.46%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SBGI shares. StockNews.com lowered Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company dropped their target price on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Benchmark reissued a “buy” rating and set a $30.00 target price on shares of Sinclair in a research note on Tuesday, January 28th. Guggenheim lifted their price objective on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. increased their target price on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.70.

Institutional Trading of Sinclair

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in Sinclair in the third quarter valued at approximately $39,000. GAMMA Investing LLC lifted its stake in shares of Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after purchasing an additional 613 shares during the last quarter. Federated Hermes Inc. acquired a new position in Sinclair in the fourth quarter valued at about $47,000. Point72 DIFC Ltd purchased a new position in Sinclair during the third quarter worth about $91,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sinclair during the third quarter valued at about $121,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Company Profile

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.