Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith Purchases 17,902 Shares

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith acquired 17,902 shares of the stock in a transaction on Monday, March 24th. The stock was purchased at an average cost of $16.45 per share, with a total value of $294,487.90. Following the transaction, the chairman now directly owns 1,082,771 shares of the company’s stock, valued at $17,811,582.95. This represents a 1.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Sinclair Price Performance

Shares of SBGI stock opened at $16.53 on Tuesday. The firm has a market cap of $1.10 billion, a P/E ratio of -5.01 and a beta of 1.50. The firm has a fifty day moving average of $14.84 and a two-hundred day moving average of $15.79. 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 1-year low of $11.13 and a 1-year high of $18.46.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. As a group, research analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were 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 was Monday, March 10th. Sinclair’s dividend payout ratio is currently 21.46%.

Hedge Funds Weigh In On Sinclair

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings 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 purchasing an additional 613 shares during the period. Federated Hermes Inc. bought a new stake in shares of Sinclair during the 4th quarter valued at about $47,000. Point72 DIFC Ltd acquired a new stake in Sinclair during the third quarter worth about $91,000. New York State Common Retirement Fund lifted its holdings in Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock worth $121,000 after acquiring an additional 1,700 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Sinclair in the fourth quarter valued at approximately $123,000. 41.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SBGI has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Guggenheim dropped their target price on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. StockNews.com cut Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Benchmark restated a “buy” rating and set a $30.00 price objective on shares of Sinclair in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.