David D. Smith Acquires 4,616 Shares of Sinclair, Inc. (NASDAQ:SBGI) Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith acquired 4,616 shares of Sinclair stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average cost of $16.44 per share, with a total value of $75,887.04. Following the purchase, the chairman now directly owns 972,205 shares of the company’s stock, valued at $15,983,050.20. This represents a 0.48 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Sinclair Price Performance

Shares of SBGI opened at $16.96 on Friday. The firm has a market capitalization of $1.13 billion, a PE ratio of -5.14 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 1-year low of $11.13 and a 1-year high of $18.46. The company’s fifty day moving average price is $14.82 and its 200-day moving average price is $15.75.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.62. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. On average, equities research analysts predict that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders 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 dividend yield of 5.90%. The ex-dividend date of this dividend is Monday, March 10th. Sinclair’s dividend payout ratio (DPR) is presently 21.46%.

Institutional Investors Weigh In On Sinclair

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings 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 buying an additional 613 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Sinclair by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company’s stock valued at $295,000 after purchasing an additional 760 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in 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 last quarter. Price T Rowe Associates Inc. MD boosted 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 purchasing an additional 2,035 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Sinclair by 8.5% in the fourth quarter. Wells Fargo & Company MN now owns 33,548 shares of the company’s stock valued at $541,000 after purchasing an additional 2,620 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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