David D. Smith Acquires 7,719 Shares of Sinclair, Inc. (NASDAQ:SBGI) Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith acquired 7,719 shares of the company’s stock in a transaction on Monday, April 7th. The shares were purchased at an average cost of $13.20 per share, with a total value of $101,890.80. Following the completion of the purchase, the chairman now directly owns 1,340,884 shares of the company’s stock, valued at $17,699,668.80. This trade represents a 0.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Sinclair Price Performance

Sinclair stock opened at $13.19 on Friday. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a market cap of $876.73 million, a price-to-earnings ratio of -4.00 and a beta of 1.29. The firm has a 50-day moving average of $14.85 and a two-hundred day moving average of $15.87. Sinclair, Inc. has a 1 year low of $11.13 and a 1 year high of $18.46.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.62. The firm had revenue of $1 billion during 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%. On average, research analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.58%. The ex-dividend date of this dividend was Monday, March 10th. Sinclair’s payout ratio is 21.46%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SBGI. Wells Fargo & Company lowered their target price on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. StockNews.com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Guggenheim cut 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, Benchmark reissued a “buy” rating and set a $30.00 price target on shares of Sinclair in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $19.30.

Institutional Trading of Sinclair

Several institutional investors and hedge funds have recently made changes to their positions in the company. NBC Securities Inc. grew its holdings in Sinclair by 105,075.0% during the 1st quarter. NBC Securities Inc. now owns 4,207 shares of the company’s stock worth $67,000 after acquiring an additional 4,203 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Sinclair by 1,804.4% during the first quarter. GAMMA Investing LLC now owns 55,150 shares of the company’s stock valued at $879,000 after purchasing an additional 52,254 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in Sinclair by 77.8% during the first quarter. Central Pacific Bank Trust Division now owns 8,000 shares of the company’s stock valued at $127,000 after buying an additional 3,500 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Sinclair by 19.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 86,580 shares of the company’s stock worth $1,397,000 after buying an additional 14,344 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Sinclair by 52.9% during the fourth quarter. Point72 Asset Management L.P. now owns 210,939 shares of the company’s stock worth $3,405,000 after buying an additional 73,006 shares during the period. 41.71% of the stock is currently owned by institutional investors.

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.