David D. Smith Purchases 42,595 Shares of Sinclair, Inc. (NASDAQ:SBGI) Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith acquired 42,595 shares of Sinclair stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $14.08 per share, for a total transaction of $599,737.60. Following the completion of the purchase, the chairman now directly owns 901,360 shares of the company’s stock, valued at $12,691,148.80. The trade was a 4.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Sinclair Price Performance

Shares of SBGI opened at $14.85 on Friday. The firm has a market capitalization of $987.06 million, a price-to-earnings ratio of -4.50 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 one year low of $11.13 and a one year high of $18.46. The stock’s fifty day moving average is $14.84 and its 200-day moving average is $15.66.

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

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors 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 yield of 6.73%. The ex-dividend date of this dividend is Monday, March 10th. Sinclair’s payout ratio is currently 21.46%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SBGI. Carronade Capital Management LP grew its holdings in Sinclair by 418.1% during 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. acquired a new position in shares of Sinclair in the 3rd quarter valued at $2,110,000. Segall Bryant & Hamill LLC acquired a new position in shares of Sinclair in the 3rd quarter valued at $1,605,000. Trexquant Investment LP acquired a new position in shares of Sinclair in the 4th quarter valued at $1,688,000. Finally, Empyrean Capital Partners LP boosted its position in shares of Sinclair by 8.0% in the 4th quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company’s stock valued at $18,472,000 after purchasing an additional 84,493 shares during the period. 41.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SBGI. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of Sinclair in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their target price 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. StockNews.com lowered Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Guggenheim dropped their target price on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.