Sinclair (NASDAQ:SBGI) EVP David Gibber Sells 29,246 Shares of Stock

Sinclair, Inc. (NASDAQ:SBGI) EVP David Gibber sold 29,246 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $13.74, for a total transaction of $401,840.04. Following the completion of the sale, the executive vice president directly owned 184,244 shares in the company, valued at approximately $2,531,512.56. This represents a 13.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Sinclair Price Performance

Sinclair stock opened at $13.88 on Thursday. Sinclair, Inc. has a 12-month low of $12.46 and a 12-month high of $17.88. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 13.28. The firm has a 50-day moving average price of $14.06 and a 200-day moving average price of $14.31. The firm has a market capitalization of $1.00 billion, a PE ratio of 18.51 and a beta of 1.06.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.82). Sinclair had a net margin of 1.60% and a negative return on equity of 16.09%. The firm had revenue of $840.00 million for the quarter, compared to the consensus estimate of $838.99 million. During the same quarter in the previous year, the company posted ($0.91) earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts forecast that Sinclair, Inc. will post 1.48 EPS for the current year.

Sinclair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.2%. Sinclair’s dividend payout ratio is currently 133.33%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SBGI. Weiss Ratings lowered Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Zacks Research downgraded Sinclair from a “hold” rating to a “strong sell” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft set a $17.00 target price on Sinclair in a research note on Wednesday, April 15th. Guggenheim decreased their target price on Sinclair from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Finally, Wall Street Zen lowered shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $19.20.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SBGI. Geneos Wealth Management Inc. increased its holdings in Sinclair by 142.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock worth $25,000 after purchasing an additional 1,065 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in shares of Sinclair in the 4th quarter worth $32,000. Tower Research Capital LLC TRC grew its position in shares of Sinclair by 175.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock worth $41,000 after buying an additional 1,882 shares in the last quarter. Aquatic Capital Management LLC bought a new position in shares of Sinclair during the 3rd quarter worth $48,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Sinclair during the second quarter valued at $54,000. Institutional investors own 41.71% of the company’s stock.

About Sinclair

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.