Sinclair, Inc. (NASDAQ:SBGI) Chairman Buys $101,890.80 in Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith bought 7,719 shares of Sinclair stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average price of $13.20 per share, with a total value of $101,890.80. Following the completion of the transaction, the chairman now owns 1,340,884 shares of the company’s stock, valued at $17,699,668.80. This represents a 0.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sinclair Trading Up 0.6 %

Shares of SBGI opened at $13.37 on Wednesday. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.46. The firm has a market cap of $888.69 million, a price-to-earnings ratio of -4.05 and a beta of 1.29. The firm has a 50 day moving average price of $14.90 and a 200-day moving average price of $15.90. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91.

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

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.48%. The ex-dividend date was Monday, March 10th. Sinclair’s dividend payout ratio is presently 21.46%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Benchmark reissued a “buy” rating and set a $30.00 price objective on shares of Sinclair in a report on Tuesday, January 28th. Wells Fargo & Company decreased their price target on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. StockNews.com lowered shares of Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Guggenheim reduced their target price on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.30.

Hedge Funds Weigh In On Sinclair

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of Sinclair by 26.9% in 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 last quarter. Federated Hermes Inc. bought a new stake in Sinclair in the 4th quarter worth $47,000. Point72 DIFC Ltd purchased a new position in shares of Sinclair in the third quarter valued at about $91,000. New York State Common Retirement Fund raised its stake in shares of Sinclair by 29.4% during the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock valued at $121,000 after acquiring an additional 1,700 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Sinclair during the fourth quarter worth about $123,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

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.