David D. Smith Buys 125,197 Shares of Sinclair, Inc. (NASDAQ:SBGI) Stock

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) Chairman David D. Smith purchased 125,197 shares of the stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average price of $14.98 per share, for a total transaction of $1,875,451.06. Following the acquisition, the chairman now directly owns 1,207,968 shares of the company's stock, valued at $18,095,360.64. This represents a 11.56 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sinclair Stock Up 3.7 %

Shares of Sinclair stock traded up $0.49 during midday trading on Friday, reaching $13.68. 718,820 shares of the company's stock traded hands, compared to its average volume of 355,015. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. Sinclair, Inc. has a 52 week low of $11.13 and a 52 week high of $18.46. The company's 50 day simple moving average is $14.82 and its 200 day simple moving average is $15.86. The company has a market cap of $909.30 million, a price-to-earnings ratio of -4.15 and a beta of 1.29.

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

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Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.31%. The ex-dividend date was Monday, March 10th. Sinclair's dividend payout ratio is 21.46%.

Institutional Trading of Sinclair

Large investors have recently modified their holdings of the company. Kendall Capital Management bought a new stake in Sinclair during the 4th quarter valued at approximately $280,000. Verition Fund Management LLC bought a new stake in shares of Sinclair in the third quarter valued at approximately $822,000. Rhumbline Advisers grew its stake in shares of Sinclair by 56.3% in the fourth quarter. Rhumbline Advisers now owns 86,072 shares of the company's stock worth $1,389,000 after acquiring an additional 31,015 shares during the last quarter. Barclays PLC increased its position in Sinclair by 378.1% during the third quarter. Barclays PLC now owns 54,229 shares of the company's stock worth $831,000 after acquiring an additional 42,887 shares during the period. Finally, New York State Common Retirement Fund raised its stake in Sinclair by 29.4% during the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock valued at $121,000 after purchasing an additional 1,700 shares during the last quarter. 41.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on SBGI shares. Benchmark reaffirmed a "buy" rating and set a $30.00 price objective on shares of Sinclair in a research report on Tuesday, January 28th. StockNews.com cut shares of Sinclair from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Guggenheim cut 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, Wells Fargo & Company reduced their price objective on Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. One research 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. According to MarketBeat, the company presently 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.