Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith Acquires 42,595 Shares

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith purchased 42,595 shares of the stock in a transaction dated Wednesday, March 12th. The shares were bought 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 directly owns 901,360 shares of the company’s stock, valued at approximately $12,691,148.80. This represents a 4.96 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Sinclair Stock Performance

NASDAQ:SBGI opened at $14.85 on Friday. 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, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.46. The company has a 50 day simple moving average of $14.84 and a two-hundred day simple moving average of $15.65. The company has a market capitalization of $987.06 million, a PE ratio of -4.50 and a beta of 1.50.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.62. The business 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%. Research analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

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

Institutional Investors Weigh In On Sinclair

Several large investors have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC acquired a new position in shares of Sinclair during the third quarter valued at about $1,605,000. Verition Fund Management LLC acquired a new stake in Sinclair in the 3rd quarter valued at $822,000. Kendall Capital Management acquired a new stake in Sinclair in the 4th quarter valued at $280,000. Rhumbline Advisers raised its holdings in Sinclair by 56.3% during the fourth quarter. Rhumbline Advisers now owns 86,072 shares of the company’s stock worth $1,389,000 after buying an additional 31,015 shares during the last quarter. Finally, Barclays PLC raised its holdings in Sinclair by 378.1% during the third quarter. Barclays PLC now owns 54,229 shares of the company’s stock worth $831,000 after buying an additional 42,887 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Wall Street Analyst Weigh In

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