Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith Purchases 38,410 Shares

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith bought 38,410 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $14.01 per share, with a total value of $538,124.10. Following the completion of the transaction, the chairman now owns 645,564 shares in the company, valued at $9,044,351.64. The trade was a 6.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Sinclair Stock Performance

SBGI stock opened at $13.56 on Wednesday. The stock has a 50-day moving average price of $15.13 and a 200-day moving average price of $15.63. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.45. 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 cap of $900.67 million, a PE ratio of -4.11 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share 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 during the quarter, compared to analyst estimates of $1.01 billion. As a group, equities research analysts expect 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. Investors of record on Monday, March 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date is Monday, March 10th. Sinclair’s payout ratio is 21.46%.

Institutional Trading of Sinclair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBGI. Harbor Capital Advisors Inc. bought a new stake in Sinclair in the 3rd quarter valued at about $39,000. Empowered Funds LLC increased its position in Sinclair by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 232,090 shares of the company’s stock valued at $3,551,000 after buying an additional 11,792 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Sinclair in the 3rd quarter valued at about $1,605,000. Quantbot Technologies LP increased its position in Sinclair by 103.2% in the 3rd quarter. Quantbot Technologies LP now owns 26,365 shares of the company’s stock valued at $403,000 after buying an additional 13,390 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in Sinclair in the 3rd quarter valued at about $822,000. 41.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SBGI shares. JPMorgan Chase & Co. raised their target price on Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th. StockNews.com raised Sinclair from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Guggenheim raised their target price on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company lowered their target price 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Sinclair presently has an average rating of “Hold” and a consensus price target of $19.70.

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.