Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith Purchases 4,616 Shares of Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith bought 4,616 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was acquired at an average cost of $16.44 per share, for a total transaction of $75,887.04. Following the completion of the acquisition, the chairman now directly owns 972,205 shares in the company, valued at approximately $15,983,050.20. This trade represents a 0.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sinclair Stock Up 1.2 %

NASDAQ:SBGI opened at $16.96 on Friday. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.46. 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 firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -5.14 and a beta of 1.50. The business’s fifty day moving average price is $14.82 and its 200 day moving average price is $15.73.

Sinclair (NASDAQ:SBGI) last issued 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. 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 during the quarter, compared to analysts’ expectations of $1.01 billion. On average, sell-side analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.90%. The ex-dividend date of this dividend is Monday, March 10th. Sinclair’s dividend payout ratio is currently 21.46%.

Institutional Trading of Sinclair

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Sinclair by 26.9% in the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after purchasing an additional 613 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Sinclair by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company’s stock valued at $295,000 after purchasing an additional 760 shares during the last quarter. New York State Common Retirement Fund grew its holdings 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 valued at $121,000 after buying an additional 1,700 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Sinclair by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,500 shares of the company’s stock valued at $590,000 after acquiring an additional 2,035 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Sinclair by 8.5% during the 4th quarter. Wells Fargo & Company MN now owns 33,548 shares of the company’s stock valued at $541,000 after acquiring an additional 2,620 shares during the period. 41.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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