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

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith purchased 61,591 shares of Sinclair stock in a transaction that occurred on Tuesday, March 18th. The stock was purchased at an average cost of $15.79 per share, for a total transaction of $972,521.89. Following the completion of the purchase, the chairman now owns 962,951 shares of the company’s stock, valued at $15,204,996.29. This trade represents a 6.83 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Sinclair Stock Performance

NASDAQ SBGI opened at $16.96 on Friday. The company has a market cap of $1.13 billion, a P/E ratio of -5.14 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. The business’s 50 day moving average price is $14.82 and its 200-day moving average price is $15.75. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.46.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.62. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Sell-side analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The company also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 5.90%. The ex-dividend date is Monday, March 10th. Sinclair’s dividend payout ratio is 21.46%.

Analysts Set New Price Targets

SBGI has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price 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. StockNews.com cut Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Guggenheim lowered their price objective on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of Sinclair in a research 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.30.

Institutional Investors Weigh In On Sinclair

Hedge funds have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC purchased a new stake in shares of Sinclair during the 3rd quarter worth $1,605,000. Kendall Capital Management purchased a new stake in shares of Sinclair during the 4th quarter worth $280,000. Verition Fund Management LLC purchased a new stake in shares of Sinclair during the 3rd quarter worth $822,000. Rhumbline Advisers lifted its stake in shares of Sinclair by 56.3% during the 4th quarter. Rhumbline Advisers now owns 86,072 shares of the company’s stock worth $1,389,000 after purchasing an additional 31,015 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Sinclair by 378.1% during the 3rd quarter. Barclays PLC now owns 54,229 shares of the company’s stock worth $831,000 after purchasing an additional 42,887 shares during the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

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.