Insider Buying: Sinclair, Inc. (NASDAQ:SBGI) Chairman Purchases 7,719 Shares of Stock

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) Chairman David D. Smith bought 7,719 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were bought at an average cost of $13.20 per share, for a total transaction of $101,890.80. Following the transaction, the chairman now owns 1,340,884 shares of the company's stock, valued at $17,699,668.80. The trade was a 0.58 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Sinclair Stock Performance

SBGI traded up $0.49 during midday trading on Friday, reaching $13.68. The company had a trading volume of 718,820 shares, compared to its average volume of 355,015. The business has a 50-day moving average price of $14.82 and a two-hundred day moving average price of $15.86. 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 12-month low of $11.13 and a 12-month high of $18.46. The stock has a market cap of $909.30 million, a PE ratio of -4.15 and a beta of 1.29.

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

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Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.31%. The ex-dividend date was Monday, March 10th. Sinclair's dividend payout ratio (DPR) is presently 21.46%.

Hedge Funds Weigh In On Sinclair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBGI. Vanguard Group Inc. lifted its stake in shares of Sinclair by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock valued at $59,945,000 after buying an additional 64,683 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Sinclair by 1.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 3,704,282 shares of the company's stock valued at $59,787,000 after acquiring an additional 55,350 shares during the period. Empyrean Capital Partners LP lifted its position in shares of 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 acquiring an additional 84,493 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sinclair by 1.9% in the third quarter. Geode Capital Management LLC now owns 826,949 shares of the company's stock worth $12,655,000 after acquiring an additional 15,263 shares during the period. Finally, Bridgeway Capital Management LLC raised its stake in shares of Sinclair by 2.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 528,719 shares of the company's stock valued at $8,534,000 after purchasing an additional 11,883 shares during the period. Institutional investors own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

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