David D. Smith Buys 67,131 Shares of Sinclair, Inc. (NASDAQ:SBGI) Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith purchased 67,131 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $13.96 per share, with a total value of $937,148.76. Following the acquisition, the chairman now owns 818,869 shares in the company, valued at $11,431,411.24. This trade represents a 8.93 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Sinclair Price Performance

Shares of NASDAQ SBGI traded down $0.01 during mid-day trading on Wednesday, hitting $14.32. 515,877 shares of the stock traded hands, compared to its average volume of 257,873. The company has a market cap of $951.84 million, a PE ratio of -4.34 and a beta of 1.50. Sinclair, Inc. has a twelve month low of $11.13 and a twelve month high of $18.45. 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 has a 50 day simple moving average of $14.97 and a two-hundred day simple moving average of $15.67.

Sinclair (NASDAQ:SBGI) last posted its 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 firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. As a group, equities research analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.98%. The ex-dividend date of this dividend is Monday, March 10th. Sinclair’s dividend payout ratio (DPR) is currently 21.46%.

Hedge Funds Weigh In On Sinclair

Large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its stake 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 buying an additional 760 shares during the period. New York State Common Retirement Fund raised its stake in Sinclair by 29.4% during the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock worth $121,000 after buying an additional 1,700 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings 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 buying an additional 2,035 shares during the period. Finally, Wells Fargo & Company MN boosted 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 valued at $541,000 after acquiring an additional 2,620 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SBGI shares. Guggenheim cut their target price on Sinclair from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Monday. StockNews.com downgraded Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. raised their price objective on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Benchmark reissued a “buy” rating and set a $30.00 target price on shares of Sinclair in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company reduced their price target on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently 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.