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

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

Sinclair Trading Up 0.8 %

SBGI traded up $0.13 during midday trading on Thursday, hitting $16.54. The company’s stock had a trading volume of 171,370 shares, compared to its average volume of 338,019. The firm has a market cap of $1.10 billion, a P/E ratio of -5.01 and a beta of 1.50. Sinclair, Inc. has a 52-week low of $11.13 and a 52-week 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 50-day moving average price of $14.79 and a two-hundred day moving average price of $15.70.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. On average, research analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.05%. The ex-dividend date of this dividend is Monday, March 10th. Sinclair’s dividend payout ratio is currently 21.46%.

Institutional Investors Weigh In On Sinclair

Several institutional investors and hedge funds have recently made changes to their positions in SBGI. Carronade Capital Management LP raised its position in shares of Sinclair by 418.1% during the 4th quarter. Carronade Capital Management LP now owns 440,419 shares of the company’s stock valued at $7,108,000 after acquiring an additional 355,419 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Sinclair in the third quarter worth $2,110,000. Segall Bryant & Hamill LLC acquired a new stake in Sinclair in the third quarter worth $1,605,000. Trexquant Investment LP acquired a new stake in Sinclair in the fourth quarter worth $1,688,000. Finally, Empyrean Capital Partners LP increased its position in Sinclair by 8.0% in the fourth quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company’s stock worth $18,472,000 after buying an additional 84,493 shares during the period. 41.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Guggenheim decreased their price objective on Sinclair from $19.00 to $17.00 and set a “buy” rating for the company in a report on Monday, March 10th. Wells Fargo & Company decreased their price target on Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. StockNews.com downgraded Sinclair from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Benchmark restated a “buy” rating and issued a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.