Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith Acquires 67,131 Shares

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith acquired 67,131 shares of Sinclair stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $13.96 per share, with a total value of $937,148.76. Following the completion of the transaction, the chairman now directly owns 818,869 shares of the company’s stock, valued at $11,431,411.24. This trade represents a 8.93 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Sinclair Price Performance

Shares of Sinclair stock opened at $14.32 on Thursday. The company has a 50-day simple moving average of $14.94 and a two-hundred day simple moving average of $15.66. Sinclair, Inc. has a twelve month low of $11.13 and a twelve month high of $18.45. The stock has a market capitalization of $951.84 million, a price-to-earnings ratio of -4.34 and a beta of 1.50. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73.

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

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.25 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 6.98%. Sinclair’s payout ratio is 21.46%.

Hedge Funds Weigh In On Sinclair

A number of institutional investors have recently modified their holdings of SBGI. Segall Bryant & Hamill LLC bought a new position in Sinclair in the third quarter valued at about $1,605,000. Verition Fund Management LLC acquired a new stake in shares of Sinclair in the 3rd quarter valued at approximately $822,000. Kendall Capital Management bought a new stake in shares of Sinclair during the 4th quarter valued at approximately $280,000. Rhumbline Advisers increased its position in Sinclair by 56.3% during the 4th quarter. Rhumbline Advisers now owns 86,072 shares of the company’s stock worth $1,389,000 after purchasing an additional 31,015 shares in the last quarter. Finally, Barclays PLC lifted its stake in Sinclair by 378.1% in the 3rd quarter. Barclays PLC now owns 54,229 shares of the company’s stock valued at $831,000 after purchasing an additional 42,887 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wells Fargo & Company cut their price objective 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. StockNews.com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Benchmark restated a “buy” rating and issued a $30.00 price objective on shares of Sinclair in a report on Tuesday, January 28th. Finally, Guggenheim dropped their target price on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.30.

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.