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

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) Chairman David D. Smith bought 42,595 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $14.08 per share, for a total transaction of $599,737.60. Following the transaction, the chairman now directly owns 901,360 shares of the company's stock, valued at $12,691,148.80. The trade was a 4.96 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sinclair Price Performance

NASDAQ:SBGI traded up $0.44 during trading hours on Tuesday, reaching $15.99. 426,251 shares of the company were exchanged, compared to its average volume of 341,917. The company has a market capitalization of $1.06 billion, a P/E ratio of -4.85 and a beta of 1.50. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.46. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The business has a 50 day moving average of $14.81 and a 200 day moving average of $15.69.

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

Remove Ads

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend is Monday, March 10th. Sinclair's payout ratio is presently 21.46%.

Institutional Investors Weigh In On Sinclair

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Sinclair by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock worth $59,945,000 after purchasing an additional 64,683 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in Sinclair by 1.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,704,282 shares of the company's stock worth $59,787,000 after purchasing an additional 55,350 shares during the last quarter. Empyrean Capital Partners LP lifted its stake in Sinclair by 8.0% during the fourth quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company's stock worth $18,472,000 after purchasing an additional 84,493 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Sinclair by 1.9% in the 3rd 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 during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Sinclair by 2.3% in the 4th 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 during the last quarter. 41.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on SBGI shares. Benchmark reaffirmed a "buy" rating and issued a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. StockNews.com downgraded Sinclair from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Guggenheim decreased their target price on Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. One 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's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target 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.