Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith Buys 61,591 Shares

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith bought 61,591 shares of Sinclair stock in a transaction dated Tuesday, March 18th. The stock was purchased at an average cost of $15.79 per share, with a total value of $972,521.89. Following the completion of the acquisition, the chairman now directly owns 962,951 shares in the company, valued at approximately $15,204,996.29. The trade was a 6.83 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Sinclair Stock Performance

NASDAQ:SBGI opened at $16.76 on Friday. 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 $1.11 billion, a price-to-earnings ratio of -5.08 and a beta of 1.50. The firm’s fifty day moving average price is $14.80 and its 200 day moving average price is $15.71. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.46.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. On average, sell-side analysts expect that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.97%. Sinclair’s dividend payout ratio (DPR) is presently 21.46%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in shares of Sinclair by 26.9% during the 4th 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. acquired a new stake in shares of Sinclair in the fourth quarter valued at about $47,000. Point72 DIFC Ltd purchased a new stake in Sinclair during the third quarter worth about $91,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sinclair during the third quarter worth about $121,000. Finally, New York State Common Retirement Fund increased its holdings in 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 buying an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analyst Ratings Changes

SBGI has been the subject of a number of research reports. Guggenheim reduced their price objective on Sinclair from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, March 10th. StockNews.com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Wells Fargo & Company lowered 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 report on Thursday, February 27th. 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 assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.30.

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.