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 company’s stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $13.96 per share, for a total transaction of $937,148.76. Following the completion of the purchase, the chairman now owns 818,869 shares of the company’s stock, valued at approximately $11,431,411.24. This trade represents a 8.93 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sinclair Stock Down 0.1 %

Shares of NASDAQ:SBGI traded down $0.01 during midday trading on Wednesday, hitting $14.32. 515,877 shares of the company’s stock were exchanged, 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. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $18.45. The stock has a 50 day moving average price of $14.97 and a 200-day moving average price of $15.67.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, topping 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%. On average, sell-side analysts anticipate that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date is Monday, March 10th. Sinclair’s dividend payout ratio is 21.46%.

Institutional Trading of Sinclair

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Sinclair by 26.9% during 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 in the last quarter. Federated Hermes Inc. purchased a new position in shares of Sinclair in the 4th quarter worth approximately $47,000. Point72 DIFC Ltd bought a new position in shares of Sinclair in the third quarter valued at approximately $91,000. New York State Common Retirement Fund increased its position 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 bought a new stake in Sinclair during the fourth quarter worth $123,000. Institutional investors own 41.71% of the company’s stock.

Wall Street Analyst Weigh In

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