Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith Purchases 30,296 Shares

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) Chairman David D. Smith acquired 30,296 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $14.09 per share, with a total value of $426,870.64. Following the transaction, the chairman now owns 728,986 shares in the company, valued at $10,271,412.74. The trade was a 4.34 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sinclair Trading Down 4.2 %

SBGI stock traded down $0.60 during midday trading on Monday, reaching $13.80. 703,123 shares of the company's stock traded hands, compared to its average volume of 251,681. The company has a market capitalization of $916.61 million, a P/E ratio of -4.18 and a beta of 1.50. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.45. The business has a 50-day moving average price of $15.01 and a two-hundred day moving average price of $15.67.

Sinclair (NASDAQ:SBGI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 negative net margin of 6.14% and a positive return on equity of 63.89%. Equities research analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

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Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.25%. Sinclair's dividend payout ratio is currently 21.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SBGI shares. Benchmark restated a "buy" rating and set a $30.00 target price on shares of Sinclair in a report on Tuesday, January 28th. StockNews.com cut shares of Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday. Guggenheim decreased their price target on shares of Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of Sinclair from $14.00 to $16.00 and gave the stock an "underweight" rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company decreased 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.30.

Institutional Trading of Sinclair

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Sinclair by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock valued at $59,945,000 after purchasing an additional 64,683 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Sinclair by 1.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,704,282 shares of the company's stock worth $59,787,000 after buying an additional 55,350 shares during the last quarter. Empyrean Capital Partners LP increased its stake in shares of Sinclair by 8.0% in the fourth quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company's stock worth $18,472,000 after buying an additional 84,493 shares during the last quarter. Geode Capital Management LLC raised its holdings in Sinclair by 1.9% in the third quarter. Geode Capital Management LLC now owns 826,949 shares of the company's stock valued at $12,655,000 after acquiring an additional 15,263 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in Sinclair by 2.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 528,719 shares of the company's stock valued at $8,534,000 after acquiring an additional 11,883 shares in the last quarter. Hedge funds and other institutional investors 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.