Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith Acquires 67,131 Shares of Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith bought 67,131 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price of $13.96 per share, for a total transaction of $937,148.76. Following the completion of the acquisition, the chairman now directly owns 818,869 shares in the company, valued at approximately $11,431,411.24. The trade was a 8.93 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sinclair Stock Down 0.1 %

NASDAQ SBGI opened at $14.32 on Thursday. The stock’s 50 day simple moving average is $14.94 and its 200 day simple moving average is $15.66. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. Sinclair, Inc. has a one year low of $11.13 and a one year high of $18.45. The firm has a market cap of $951.84 million, a PE ratio of -4.34 and a beta of 1.50.

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

Sinclair Dividend Announcement

The firm 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date is Monday, March 10th. Sinclair’s dividend payout ratio is presently 21.46%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SBGI. Empowered Funds LLC raised its holdings in Sinclair by 5.4% in the third quarter. Empowered Funds LLC now owns 232,090 shares of the company’s stock worth $3,551,000 after purchasing an additional 11,792 shares during the period. Segall Bryant & Hamill LLC bought a new position in Sinclair during the third quarter worth about $1,605,000. Quantbot Technologies LP grew its stake in Sinclair by 103.2% in the third quarter. Quantbot Technologies LP now owns 26,365 shares of the company’s stock valued at $403,000 after acquiring an additional 13,390 shares during the period. Verition Fund Management LLC bought a new stake in shares of Sinclair in the third quarter worth about $822,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sinclair during the third quarter worth about $121,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th. Guggenheim reduced their price objective on Sinclair from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Monday. StockNews.com lowered shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company reduced their target price on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.30.

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.