David D. Smith Purchases 42,595 Shares of Sinclair, Inc. (NASDAQ:SBGI) Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith purchased 42,595 shares of Sinclair stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $14.08 per share, with a total value of $599,737.60. Following the completion of the acquisition, the chairman now owns 901,360 shares in the company, valued at $12,691,148.80. The trade was a 4.96 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Sinclair Price Performance

Shares of NASDAQ:SBGI opened at $14.85 on Friday. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.46. The firm has a market capitalization of $987.06 million, a PE ratio of -4.50 and a beta of 1.50. The business’s 50 day moving average is $14.84 and its 200-day moving average is $15.66. 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 EPS for the quarter, beating the consensus estimate of $1.99 by $0.62. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. Sell-side analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.73%. The ex-dividend date is Monday, March 10th. Sinclair’s dividend payout ratio is 21.46%.

Analysts Set New Price Targets

SBGI has been the topic of a number of recent analyst reports. StockNews.com downgraded Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Benchmark reissued a “buy” rating and issued a $30.00 price objective on shares of Sinclair in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price target 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. Finally, Guggenheim dropped their price target on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sinclair currently has a consensus rating of “Hold” and an average price target of $19.30.

Institutional Trading of Sinclair

Several institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after buying an additional 613 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Sinclair by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company’s stock worth $295,000 after purchasing an additional 760 shares in the last quarter. New York State Common Retirement Fund boosted its stake 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 purchasing an additional 1,700 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Sinclair by 5.9% in 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 in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Sinclair by 8.5% in the fourth quarter. Wells Fargo & Company MN now owns 33,548 shares of the company’s stock worth $541,000 after purchasing an additional 2,620 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.