David D. Smith Acquires 17,902 Shares of Sinclair, Inc. (NASDAQ:SBGI) Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith purchased 17,902 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was bought at an average price of $16.45 per share, for a total transaction of $294,487.90. Following the acquisition, the chairman now owns 1,082,771 shares in the company, valued at $17,811,582.95. The trade was a 1.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sinclair Stock Down 2.5 %

Sinclair stock traded down $0.43 during midday trading on Monday, hitting $16.53. The stock had a trading volume of 552,480 shares, compared to its average volume of 341,740. The business has a fifty day moving average price of $14.82 and a 200 day moving average price of $15.76. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $18.46. The stock has a market cap of $1.10 billion, a P/E ratio of -5.01 and a beta of 1.50. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73.

Sinclair (NASDAQ:SBGI) last announced its quarterly 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. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. Research analysts predict 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. Investors of record on Monday, March 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.05%. The ex-dividend date is Monday, March 10th. Sinclair’s dividend payout ratio is currently 21.46%.

Analysts Set New Price Targets

SBGI has been the topic of several 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 report on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Sinclair in a research note on Tuesday, January 28th. Guggenheim reduced their target price on shares of Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Finally, StockNews.com cut shares of Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.30.

Institutional Investors Weigh In On Sinclair

A number of hedge funds and other institutional investors have recently modified their holdings of SBGI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Sinclair by 19.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 86,580 shares of the company’s stock worth $1,397,000 after acquiring an additional 14,344 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Sinclair by 52.9% in the fourth quarter. Point72 Asset Management L.P. now owns 210,939 shares of the company’s stock valued at $3,405,000 after purchasing an additional 73,006 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sinclair by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company’s stock valued at $295,000 after acquiring an additional 760 shares in the last quarter. Empyrean Capital Partners LP increased its position in Sinclair by 8.0% during 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 last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Sinclair in the fourth quarter worth about $395,000. 41.71% of the stock is currently owned by institutional investors.

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.