David Gibber Sells 29,376 Shares of Sinclair (NASDAQ:SBGI) Stock

Sinclair, Inc. (NASDAQ:SBGI) EVP David Gibber sold 29,376 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $16.67, for a total value of $489,697.92. Following the transaction, the executive vice president owned 165,272 shares of the company’s stock, valued at $2,755,084.24. The trade was a 15.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Sinclair Stock Performance

NASDAQ SBGI traded down $0.55 during trading on Friday, hitting $16.45. 396,671 shares of the company’s stock traded hands, compared to its average volume of 435,162. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -26.53 and a beta of 0.99. Sinclair, Inc. has a 12-month low of $11.89 and a 12-month high of $17.88. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.01 and a current ratio of 2.01. The business has a 50 day moving average of $14.71 and a 200-day moving average of $14.34.

Sinclair (NASDAQ:SBGI) last posted its earnings results on Wednesday, November 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.63. The firm had revenue of $773.00 million during the quarter, compared to the consensus estimate of $766.78 million. Sinclair had a negative net margin of 1.35% and a negative return on equity of 10.19%. The company’s revenue was down 15.7% on a year-over-year basis. During the same quarter last year, the company earned $1.43 earnings per share. As a group, equities research analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Monday, December 1st. Sinclair’s dividend payout ratio (DPR) is presently -161.29%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SBGI. Guggenheim boosted their price objective on Sinclair from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Sinclair in a report on Monday. Wall Street Zen upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Zacks Research raised shares of Sinclair from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.00.

Hedge Funds Weigh In On Sinclair

Several institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Sinclair by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,082 shares of the company’s stock valued at $304,000 after buying an additional 780 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Sinclair by 26.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company’s stock worth $55,000 after acquiring an additional 820 shares during the period. Hsbc Holdings PLC lifted its holdings in Sinclair by 8.4% during the first quarter. Hsbc Holdings PLC now owns 11,446 shares of the company’s stock valued at $182,000 after purchasing an additional 884 shares in the last quarter. Kendall Capital Management boosted its position in shares of Sinclair by 3.8% in the third quarter. Kendall Capital Management now owns 26,495 shares of the company’s stock worth $400,000 after purchasing an additional 965 shares during the period. Finally, Cetera Investment Advisers increased its stake in shares of Sinclair by 7.8% in the first quarter. Cetera Investment Advisers now owns 14,525 shares of the company’s stock worth $231,000 after purchasing an additional 1,050 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

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.