Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith Purchases 67,131 Shares

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith acquired 67,131 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $13.96 per share, with a total value of $937,148.76. Following the completion of the transaction, the chairman now directly owns 818,869 shares of the company’s stock, valued at $11,431,411.24. This trade represents a 8.93 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Sinclair Trading Up 3.2 %

Shares of SBGI stock opened at $14.85 on Friday. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.46. The company has a 50 day moving average price of $14.84 and a 200 day moving average price of $15.65. The stock has a market capitalization of $987.06 million, a P/E ratio of -4.50 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 (NASDAQ:SBGI) last posted its quarterly earnings data 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 business had revenue of $1 billion for 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%. Equities research analysts predict that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.73%. The ex-dividend date is Monday, March 10th. Sinclair’s payout ratio is presently 21.46%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SBGI. StockNews.com downgraded Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Wells Fargo & Company dropped their price target on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Guggenheim decreased their price objective 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. Finally, Benchmark reiterated a “buy” rating and issued a $30.00 target price on shares of Sinclair in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.30.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SBGI. Empowered Funds LLC increased its holdings in shares of Sinclair by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 232,090 shares of the company’s stock valued at $3,551,000 after acquiring an additional 11,792 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Sinclair during the 3rd quarter worth $1,605,000. Quantbot Technologies LP boosted its stake in Sinclair by 103.2% in the third quarter. Quantbot Technologies LP now owns 26,365 shares of the company’s stock valued at $403,000 after acquiring an additional 13,390 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Sinclair during the third quarter worth about $822,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sinclair during the third quarter worth about $121,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

About Sinclair

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.