Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith Buys 4,616 Shares

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) Chairman David D. Smith acquired 4,616 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was purchased at an average price of $16.44 per share, with a total value of $75,887.04. Following the completion of the acquisition, the chairman now directly owns 972,205 shares in the company, valued at approximately $15,983,050.20. This represents a 0.48 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Sinclair Trading Up 1.0 %

Shares of NASDAQ:SBGI traded up $0.16 during midday trading on Tuesday, hitting $16.69. 464,962 shares of the stock traded hands, compared to its average volume of 341,739. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The business's 50 day moving average is $14.84 and its two-hundred day moving average is $15.79. The stock has a market capitalization of $1.11 billion, a PE ratio of -5.06 and a beta of 1.50. Sinclair, Inc. has a one year low of $11.13 and a one year high of $18.46.

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

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Sinclair Announces Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company cut their target price on Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Benchmark reaffirmed a "buy" rating and set a $30.00 target price on shares of Sinclair in a report on Tuesday, January 28th. StockNews.com downgraded shares of Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Guggenheim reduced their price objective on Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $19.30.

Institutional Investors Weigh In On Sinclair

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of Sinclair by 26.9% during the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock valued at $47,000 after acquiring an additional 613 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Sinclair by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company's stock worth $295,000 after purchasing an additional 760 shares during the last quarter. New York State Common Retirement Fund grew its position in Sinclair by 29.4% in the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock worth $121,000 after purchasing an additional 1,700 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Sinclair by 5.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,500 shares of the company's stock valued at $590,000 after buying an additional 2,035 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Sinclair by 8.5% during the 4th quarter. Wells Fargo & Company MN now owns 33,548 shares of the company's stock valued at $541,000 after buying an additional 2,620 shares during the last quarter. 41.71% of the stock is owned by institutional investors.

About Sinclair

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.