David D. Smith Acquires 17,902 Shares of Sinclair, Inc. (NASDAQ:SBGI) Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith bought 17,902 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average cost of $16.45 per share, for a total transaction of $294,487.90. Following the purchase, the chairman now directly owns 1,082,771 shares in the company, valued at $17,811,582.95. This trade represents a 1.68 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sinclair Trading Up 1.0 %

SBGI stock opened at $16.69 on Wednesday. The firm has a fifty day moving average price of $14.87 and a 200 day moving average price of $15.81. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.46. The firm has a market cap of $1.11 billion, a PE ratio of -5.06 and a beta of 1.50. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91.

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

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a yield of 5.99%. Sinclair’s dividend payout ratio (DPR) is presently 21.46%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of Sinclair from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Wells Fargo & Company dropped their target price on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Guggenheim reduced their price target on shares of Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Finally, Benchmark reissued a “buy” rating and set a $30.00 price objective on shares of Sinclair in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.30.

Institutional Investors Weigh In On Sinclair

Several institutional investors have recently modified their holdings of SBGI. Segall Bryant & Hamill LLC bought a new position in shares of Sinclair during the 3rd quarter valued at approximately $1,605,000. Kendall Capital Management purchased a new position in Sinclair during the fourth quarter worth $280,000. Verition Fund Management LLC purchased a new position in Sinclair during the third quarter worth $822,000. Rhumbline Advisers increased its position in Sinclair by 56.3% during the fourth quarter. Rhumbline Advisers now owns 86,072 shares of the company’s stock valued at $1,389,000 after acquiring an additional 31,015 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Sinclair by 378.1% in the third quarter. Barclays PLC now owns 54,229 shares of the company’s stock valued at $831,000 after acquiring an additional 42,887 shares during the period. 41.71% of the stock is owned by institutional investors.

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.