Insider Buying: Sinclair, Inc. (NASDAQ:SBGI) Chairman Buys 17,902 Shares of Stock

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) Chairman David D. Smith bought 17,902 shares of the business's stock in a transaction on Monday, March 24th. The shares were acquired at an average price of $16.45 per share, for a total transaction of $294,487.90. Following the completion of the purchase, the chairman now owns 1,082,771 shares in the company, valued at approximately $17,811,582.95. The trade was a 1.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Sinclair Stock Performance

Shares of NASDAQ:SBGI traded down $0.04 during trading on Friday, hitting $15.64. The company's stock had a trading volume of 523,313 shares, compared to its average volume of 350,195. 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 cap of $1.04 billion, a price-to-earnings ratio of -4.74 and a beta of 1.50. The company has a 50-day moving average of $14.91 and a 200-day moving average of $15.82. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $18.46.

Sinclair (NASDAQ:SBGI - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share 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 for the quarter, compared to the consensus estimate of $1.01 billion. On average, sell-side analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current year.

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Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date was Monday, March 10th. Sinclair's payout ratio is 21.46%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock worth $47,000 after acquiring an additional 613 shares in the last quarter. Federated Hermes Inc. purchased a new stake in Sinclair in the 4th quarter worth $47,000. Point72 DIFC Ltd bought a new stake in Sinclair during the third quarter valued at about $91,000. New York State Common Retirement Fund lifted its position in shares of Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock valued at $121,000 after acquiring an additional 1,700 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Sinclair in the fourth quarter worth about $123,000. Institutional investors own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SBGI. Benchmark reaffirmed a "buy" rating and set a $30.00 price objective on shares of Sinclair in a research report on Tuesday, January 28th. Guggenheim dropped their price target on shares of Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Wells Fargo & Company decreased their price objective on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Finally, StockNews.com cut shares of Sinclair from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. One 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, Sinclair has an average 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.