Sinclair (NASDAQ:SBGI) Director Daniel Keith Sells 1,398 Shares

Sinclair, Inc. (NASDAQ:SBGI) Director Daniel Keith sold 1,398 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $13.10, for a total value of $18,313.80. Following the completion of the sale, the director directly owned 47,640 shares of the company’s stock, valued at $624,084. The trade was a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Sinclair Stock Down 0.4%

Shares of NASDAQ SBGI opened at $13.01 on Friday. The business has a 50-day moving average price of $14.31 and a 200 day moving average price of $14.67. The stock has a market cap of $931.78 million, a PE ratio of -7.74 and a beta of 1.03. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 11.78. Sinclair, Inc. has a 52-week low of $11.89 and a 52-week high of $17.88.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.07. Sinclair had a negative return on equity of 64.27% and a negative net margin of 3.53%.The company had revenue of $836.00 million for the quarter, compared to analyst estimates of $840.25 million. During the same quarter in the previous year, the company posted $2.61 earnings per share. The firm’s revenue was down 16.7% compared to the same quarter last year. Equities research analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend was Tuesday, March 10th. Sinclair’s payout ratio is presently -59.52%.

Sinclair News Roundup

Here are the key news stories impacting Sinclair this week:

• Positive Sentiment: Company paid its quarterly dividend ($0.25; annualized $1.00, ~7.7% yield), which supports income-focused investor demand. Read More.
• Neutral Sentiment: Broker consensus remains mixed-to-cautious: the street average rating is roughly a “Hold” with a wide range of targets and opinions, leaving stock direction dependent on near-term results and catalysts. Read More.
• Negative Sentiment: Director Daniel C. Keith sold a total of 42,000 shares across filings dated March 31–April 2 at an average price of $13.10 (roughly $550k in proceeds), materially reducing his stake — a signal that can weigh on sentiment. Read More.
• Negative Sentiment: JPMorgan lowered its price target to $14.00 and moved to an “underweight” stance, removing upside expectations from a major sell-side voice and likely contributing to near-term selling pressure. Read More.

Analysts Set New Price Targets

Several research analysts have issued reports on SBGI shares. Weiss Ratings downgraded shares of Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. JPMorgan Chase & Co. reduced their target price on shares of Sinclair from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Wednesday. Wells Fargo & Company raised their price target on Sinclair from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Benchmark boosted their price target on Sinclair from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Wall Street Zen raised Sinclair from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.25.

Hedge Funds Weigh In On Sinclair

Several institutional investors have recently bought and sold shares of SBGI. Geneos Wealth Management Inc. raised its position in Sinclair by 142.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock worth $25,000 after buying an additional 1,065 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Sinclair in the fourth quarter valued at about $32,000. Tower Research Capital LLC TRC increased its stake in shares of Sinclair by 175.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock worth $41,000 after acquiring an additional 1,882 shares during the period. Aquatic Capital Management LLC purchased a new position in Sinclair during the third quarter worth about $48,000. Finally, Raymond James Financial Inc. purchased a new position in Sinclair during the second quarter worth about $54,000. 41.71% of the stock is owned by institutional investors and hedge funds.

About Sinclair

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.