Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith Purchases 30,296 Shares

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith bought 30,296 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $14.09 per share, for a total transaction of $426,870.64. Following the completion of the acquisition, the chairman now directly owns 728,986 shares of the company’s stock, valued at approximately $10,271,412.74. This trade represents a 4.34 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sinclair Price Performance

Shares of NASDAQ SBGI opened at $14.62 on Friday. Sinclair, Inc. has a twelve month low of $11.13 and a twelve month high of $18.45. The firm has a fifty day simple moving average of $15.07 and a 200 day simple moving average of $15.62. The company has a market capitalization of $971.08 million, a PE ratio of -4.43 and a beta of 1.55. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73.

Sinclair (NASDAQ:SBGI) last announced its earnings results 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 the consensus estimate of $1.01 billion. On average, sell-side analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders 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 6.84%. The ex-dividend date is Monday, March 10th. Sinclair’s payout ratio is presently 21.46%.

Institutional Investors Weigh In On Sinclair

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in shares of Sinclair by 26.9% during the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Sinclair by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company’s stock worth $295,000 after acquiring an additional 760 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Sinclair by 29.4% during the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock worth $121,000 after purchasing an additional 1,700 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Sinclair by 5.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,500 shares of the company’s stock worth $590,000 after purchasing an additional 2,035 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in Sinclair during the third quarter worth about $39,000. 41.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SBGI has been the topic of several recent research reports. StockNews.com cut shares of Sinclair from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Wells Fargo & Company reduced their price target 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. Benchmark reiterated a “buy” rating and set a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. Finally, Guggenheim increased their price target on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Sinclair currently has an average rating of “Hold” and an average price target of $19.70.

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.