Sinclair, Inc. (NASDAQ:SBGI) Chairman Buys $294,487.90 in Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith acquired 17,902 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average price of $16.45 per share, with a total value of $294,487.90. Following the acquisition, the chairman now owns 1,082,771 shares in the company, valued at $17,811,582.95. The trade was a 1.68 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Sinclair Trading Up 0.5 %

NASDAQ SBGI opened at $16.77 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The business has a fifty day simple moving average of $14.89 and a 200 day simple moving average of $15.82. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $18.46. The firm has a market capitalization of $1.11 billion, a P/E ratio of -5.08 and a beta of 1.50.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. On average, analysts predict that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a yield of 5.96%. Sinclair’s dividend payout ratio (DPR) is currently 21.46%.

Analysts Set New Price Targets

SBGI has been the subject of a number of research analyst reports. Benchmark reiterated a “buy” rating and issued a $30.00 target price on shares of Sinclair in a report on Tuesday, January 28th. StockNews.com lowered Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Guggenheim decreased their price target on shares of Sinclair from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Finally, Wells Fargo & Company dropped their price objective on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Sinclair presently has a consensus rating of “Hold” and a consensus target price of $19.30.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SBGI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Sinclair by 19.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 86,580 shares of the company’s stock worth $1,397,000 after buying an additional 14,344 shares during the last quarter. Point72 Asset Management L.P. raised its position in Sinclair by 52.9% in the fourth quarter. Point72 Asset Management L.P. now owns 210,939 shares of the company’s stock worth $3,405,000 after acquiring an additional 73,006 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Sinclair by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company’s stock valued at $295,000 after acquiring an additional 760 shares during the last quarter. Empyrean Capital Partners LP grew its position in shares of Sinclair by 8.0% during the 4th quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company’s stock valued at $18,472,000 after acquiring an additional 84,493 shares during the period. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of Sinclair during the 4th quarter worth approximately $395,000. Institutional investors own 41.71% of the company’s stock.

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.