Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith Buys 17,902 Shares of Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith bought 17,902 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $16.45 per share, for a total transaction of $294,487.90. Following the completion of the transaction, the chairman now owns 1,082,771 shares of the company’s stock, valued at $17,811,582.95. This represents a 1.68 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Sinclair Stock Down 2.5 %

Shares of NASDAQ SBGI opened at $16.53 on Tuesday. The firm has a market cap of $1.10 billion, a P/E ratio of -5.01 and a beta of 1.50. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. Sinclair, Inc. has a 1 year low of $11.13 and a 1 year high of $18.46. The firm’s 50 day moving average price is $14.84 and its 200 day moving average price is $15.79.

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

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend was Monday, March 10th. Sinclair’s dividend payout ratio (DPR) is 21.46%.

Institutional Investors Weigh In On Sinclair

A number of institutional investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC purchased a new position in Sinclair during the third quarter worth approximately $1,605,000. Quantbot Technologies LP raised its stake in shares of Sinclair by 103.2% in the 3rd quarter. Quantbot Technologies LP now owns 26,365 shares of the company’s stock valued at $403,000 after acquiring an additional 13,390 shares during the period. Verition Fund Management LLC purchased a new stake in Sinclair during the 3rd quarter worth $822,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sinclair during the 3rd quarter worth $121,000. Finally, HighTower Advisors LLC increased its holdings in Sinclair by 15.4% in the 3rd quarter. HighTower Advisors LLC now owns 28,463 shares of the company’s stock valued at $433,000 after purchasing an additional 3,801 shares in the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBGI has been the topic of several recent research reports. StockNews.com lowered shares of Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of Sinclair in a report on Tuesday, January 28th. Guggenheim reduced their target price on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, Wells Fargo & Company cut their price target on Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.