Sinclair, Inc. (NASDAQ:SBGI) Chairman Buys $972,521.89 in Stock

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) Chairman David D. Smith purchased 61,591 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were purchased at an average cost of $15.79 per share, with a total value of $972,521.89. Following the purchase, the chairman now owns 962,951 shares of the company's stock, valued at approximately $15,204,996.29. The trade was a 6.83 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Sinclair Trading Down 2.7 %

Shares of NASDAQ SBGI traded down $0.45 during trading hours on Monday, hitting $16.51. The company's stock had a trading volume of 198,870 shares, compared to its average volume of 340,401. The business has a 50-day simple moving average of $14.82 and a 200-day simple moving average of $15.76. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -5.00 and a beta of 1.50. 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.

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, beating 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 analysts' expectations of $1.01 billion. On average, analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

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Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders 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 yield of 6.06%. Sinclair's dividend payout ratio (DPR) is presently 21.46%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Sinclair by 26.9% in the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock worth $47,000 after purchasing an additional 613 shares in the last quarter. Federated Hermes Inc. bought a new position in Sinclair during the 4th quarter valued at approximately $47,000. Point72 DIFC Ltd purchased a new stake in shares of Sinclair in the third quarter worth $91,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sinclair in the 3rd quarter worth about $121,000. Finally, New York State Common Retirement Fund boosted its stake in Sinclair by 29.4% in the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock worth $121,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SBGI shares. StockNews.com cut shares of Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Wells Fargo & Company reduced their price objective 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. Guggenheim lowered their target price on Sinclair from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Finally, Benchmark restated a "buy" rating and set a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus 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.