Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith Buys 42,595 Shares of Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith acquired 42,595 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $14.08 per share, for a total transaction of $599,737.60. Following the purchase, the chairman now directly owns 901,360 shares of the company’s stock, valued at approximately $12,691,148.80. This trade represents a 4.96 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Sinclair Trading Up 3.2 %

Shares of SBGI stock opened at $14.85 on Friday. The stock has a 50 day simple moving average of $14.84 and a 200 day simple moving average of $15.65. Sinclair, Inc. has a 1 year low of $11.13 and a 1 year high of $18.46. 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 stock has a market cap of $987.06 million, a P/E ratio of -4.50 and a beta of 1.50.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.62. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. On average, research analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.73%. The ex-dividend date of this dividend is Monday, March 10th. Sinclair’s payout ratio is presently 21.46%.

Institutional Trading of Sinclair

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in Sinclair by 26.9% during the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after purchasing an additional 613 shares in the last quarter. Federated Hermes Inc. acquired a new position in shares of Sinclair during the 4th quarter worth $47,000. Point72 DIFC Ltd bought a new stake in shares of Sinclair during the 3rd quarter worth $91,000. New York State Common Retirement Fund lifted its position in shares of Sinclair by 29.4% during the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock worth $121,000 after buying an additional 1,700 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Sinclair in the fourth quarter valued at about $123,000. Institutional investors own 41.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SBGI shares. StockNews.com cut Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Wells Fargo & Company decreased their price target on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Guggenheim reduced their price objective on Sinclair from $19.00 to $17.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, Benchmark reissued a “buy” rating and set a $30.00 price target on shares of Sinclair in a report on Tuesday, January 28th. 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, Sinclair has an average rating of “Hold” and an average target price 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.