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

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith bought 17,902 shares of the stock in a transaction on Monday, March 24th. The shares were bought at an average price of $16.45 per share, for a total transaction of $294,487.90. Following the completion of the transaction, the chairman now directly owns 1,082,771 shares of the company’s stock, valued at $17,811,582.95. This trade represents a 1.68 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Sinclair Price Performance

NASDAQ:SBGI traded down $0.43 during trading hours on Monday, reaching $16.53. 552,480 shares of the company traded hands, compared to its average volume of 341,740. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The firm’s 50-day moving average is $14.82 and its 200-day moving average is $15.76. The stock has a market cap of $1.10 billion, a P/E ratio of -5.01 and a beta of 1.50. 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 data on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.01 billion. Equities research analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders 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 dividend yield of 6.05%. The ex-dividend date of this dividend is Monday, March 10th. Sinclair’s dividend payout ratio is presently 21.46%.

Hedge Funds Weigh In On Sinclair

Several institutional investors and hedge funds have recently modified their holdings of SBGI. GAMMA Investing LLC grew its stake in Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Sinclair by 4.3% during 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 during the last quarter. New York State Common Retirement Fund grew its position in shares of Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock valued at $121,000 after purchasing an additional 1,700 shares during the period. Price T Rowe Associates Inc. MD increased 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 valued at $590,000 after purchasing an additional 2,035 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Sinclair by 8.5% during the fourth quarter. Wells Fargo & Company MN now owns 33,548 shares of the company’s stock worth $541,000 after buying an additional 2,620 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.