Sinclair, Inc. (NASDAQ:SBGI) Chairman Purchases $1,875,451.06 in Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith bought 125,197 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average cost of $14.98 per share, for a total transaction of $1,875,451.06. Following the completion of the acquisition, the chairman now owns 1,207,968 shares in the company, valued at $18,095,360.64. This trade represents a 11.56 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sinclair Stock Down 3.6 %

Shares of SBGI opened at $13.29 on Tuesday. Sinclair, Inc. has a 12-month low of $11.13 and a 12-month high of $18.46. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The company has a market capitalization of $883.37 million, a PE ratio of -4.03 and a beta of 1.29. The business’s 50 day moving average is $14.94 and its 200 day moving average is $15.92.

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

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.52%. The ex-dividend date was Monday, March 10th. Sinclair’s dividend payout ratio (DPR) is presently 21.46%.

Wall Street Analyst Weigh In

SBGI has been the subject of a number of analyst reports. Benchmark restated a “buy” rating and issued a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. StockNews.com cut shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Wells Fargo & Company dropped their price target on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sinclair presently has an average rating of “Hold” and an average price target of $19.30.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Sinclair by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company’s stock worth $59,945,000 after buying an additional 64,683 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Sinclair by 1.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 3,704,282 shares of the company’s stock worth $59,787,000 after acquiring an additional 55,350 shares in the last quarter. Empyrean Capital Partners LP boosted its position in shares of Sinclair by 8.0% during the 4th quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company’s stock valued at $18,472,000 after acquiring an additional 84,493 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Sinclair by 1.9% in the third quarter. Geode Capital Management LLC now owns 826,949 shares of the company’s stock valued at $12,655,000 after purchasing an additional 15,263 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its position in Sinclair by 2.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 528,719 shares of the company’s stock worth $8,534,000 after purchasing an additional 11,883 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.