Insider Buying: Sinclair, Inc. (NASDAQ:SBGI) Chairman Buys 38,410 Shares of Stock

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) Chairman David D. Smith acquired 38,410 shares of the stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $14.01 per share, for a total transaction of $538,124.10. Following the purchase, the chairman now directly owns 645,564 shares of the company's stock, valued at $9,044,351.64. The trade was a 6.33 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Sinclair Trading Down 1.5 %

Shares of SBGI stock traded down $0.22 on Friday, hitting $14.40. The stock had a trading volume of 404,046 shares, compared to its average volume of 241,421. 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 firm has a market capitalization of $956.46 million, a P/E ratio of -4.36 and a beta of 1.50. Sinclair, Inc. has a 1 year low of $11.13 and a 1 year high of $18.45. The company's 50 day moving average price is $15.04 and its 200-day moving average price is $15.62.

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 the consensus estimate of $1.99 by $0.62. The firm 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%. Analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Remove Ads

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 6.94%. Sinclair's dividend payout ratio is presently 21.46%.

Institutional Investors Weigh In On Sinclair

Several large investors have recently bought and sold shares of SBGI. Harbor Capital Advisors Inc. purchased a new stake in Sinclair during the 3rd quarter worth about $39,000. Empowered Funds LLC increased its holdings in Sinclair by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 232,090 shares of the company's stock worth $3,551,000 after purchasing an additional 11,792 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in Sinclair during the 3rd quarter worth about $1,605,000. Quantbot Technologies LP increased its holdings in Sinclair by 103.2% during the 3rd quarter. Quantbot Technologies LP now owns 26,365 shares of the company's stock worth $403,000 after purchasing an additional 13,390 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in Sinclair during the 3rd quarter worth about $822,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

Analysts Set New Price Targets

SBGI has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price target on Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. StockNews.com lowered Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on Sinclair from $14.00 to $16.00 and gave the company an "underweight" rating in a research note on Tuesday, November 12th. Guggenheim upped their price target on Sinclair from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. Finally, Benchmark reaffirmed a "buy" rating and issued a $30.00 price target on shares of Sinclair in a research note on Tuesday, January 28th. 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $19.70.

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.