Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith Buys 4,616 Shares

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith bought 4,616 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was bought at an average cost of $16.44 per share, for a total transaction of $75,887.04. Following the completion of the acquisition, the chairman now directly owns 972,205 shares of the company’s stock, valued at approximately $15,983,050.20. This represents a 0.48 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Sinclair Stock Performance

Sinclair stock traded up $0.20 during midday trading on Friday, reaching $16.96. 1,388,810 shares of the company traded hands, compared to its average volume of 341,604. 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 $18.46. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -5.14 and a beta of 1.50. The business has a 50 day moving average of $14.80 and a two-hundred day moving average of $15.71.

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. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. As a group, research analysts predict 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 annualized dividend and a dividend yield of 5.90%. The ex-dividend date is Monday, March 10th. Sinclair’s dividend payout ratio (DPR) is presently 21.46%.

Institutional Trading of Sinclair

Several large investors have recently added to or reduced their stakes in the business. Carronade Capital Management LP raised its position in Sinclair by 418.1% in the fourth quarter. Carronade Capital Management LP now owns 440,419 shares of the company’s stock worth $7,108,000 after acquiring an additional 355,419 shares during the period. Point72 Asset Management L.P. bought a new position in Sinclair in the 3rd quarter worth $2,110,000. Segall Bryant & Hamill LLC purchased a new position in Sinclair during the third quarter valued at $1,605,000. Trexquant Investment LP bought a new stake in Sinclair during the fourth quarter valued at about $1,688,000. Finally, Empyrean Capital Partners LP increased its position in Sinclair by 8.0% in the fourth quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company’s stock worth $18,472,000 after buying an additional 84,493 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SBGI shares. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. Wells Fargo & Company reduced 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. Guggenheim dropped their target price on shares of Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, StockNews.com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Sinclair currently has an average rating of “Hold” and a consensus target price 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.