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

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith purchased 38,410 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $14.01 per share, with a total value of $538,124.10. Following the completion of the purchase, the chairman now owns 645,564 shares of the company’s stock, valued at $9,044,351.64. This trade represents a 6.33 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Sinclair Price Performance

NASDAQ SBGI traded down $0.35 on Tuesday, hitting $13.56. 520,107 shares of the company’s stock were exchanged, compared to its average volume of 227,220. The stock has a 50-day moving average of $15.13 and a 200-day moving average of $15.63. 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, Inc. has a 52 week low of $11.13 and a 52 week high of $18.45. The stock has a market cap of $900.67 million, a price-to-earnings ratio of -4.11 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.62. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. Analysts expect 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. Stockholders of record on Monday, March 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 7.37%. Sinclair’s dividend payout ratio (DPR) is presently 21.46%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Guggenheim boosted their price target on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Benchmark reiterated a “buy” rating and issued a $30.00 price target on shares of Sinclair in a research note on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price target on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. StockNews.com upgraded Sinclair from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company cut their target price on 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 investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.70.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SBGI. Harbor Capital Advisors Inc. acquired a new position in shares of Sinclair during the third quarter worth $39,000. GAMMA Investing LLC increased its holdings in Sinclair by 26.9% in the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after purchasing an additional 613 shares during the period. Federated Hermes Inc. acquired a new stake in Sinclair in the fourth quarter valued at $47,000. Point72 DIFC Ltd acquired a new stake in Sinclair in the third quarter valued at $91,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sinclair in the third quarter valued at $121,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

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.