Sinclair (NASDAQ:SBGI) Director Robert Smith Sells 250,000 Shares of Stock

Sinclair, Inc. (NASDAQ:SBGI) Director Robert Smith sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $13.98, for a total transaction of $3,495,000.00. Following the sale, the director owned 250,000 shares in the company, valued at $3,495,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Sinclair Stock Down 2.8%

NASDAQ:SBGI traded down $0.42 during mid-day trading on Thursday, hitting $14.58. The stock had a trading volume of 1,214,086 shares, compared to its average volume of 792,974. The stock has a 50-day simple moving average of $13.21 and a two-hundred day simple moving average of $14.03. Sinclair, Inc. has a twelve month low of $11.83 and a twelve month high of $17.88. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 12.05.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.33. Sinclair had a net margin of 2.84% and a negative return on equity of 4.00%. The company had revenue of $893.00 million for the quarter, compared to the consensus estimate of $874.21 million. During the same period in the prior year, the firm posted ($0.02) EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, analysts expect that Sinclair, Inc. will post 1.35 EPS for the current fiscal year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.9%. Sinclair’s payout ratio is presently 72.99%.

Institutional Trading of Sinclair

Several institutional investors have recently modified their holdings of SBGI. Advisors Asset Management Inc. purchased a new position in shares of Sinclair in the 3rd quarter valued at $2,256,000. Russell Investments Group Ltd. raised its stake in Sinclair by 216.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 104,042 shares of the company’s stock worth $1,320,000 after acquiring an additional 71,134 shares in the last quarter. Jacobi Capital Management LLC acquired a new stake in Sinclair during the 3rd quarter worth $37,000. Capital Management Corp VA lifted its position in Sinclair by 2.1% in the third quarter. Capital Management Corp VA now owns 1,437,884 shares of the company’s stock valued at $18,247,000 after acquiring an additional 28,902 shares during the last quarter. Finally, Blueprint Investment Partners LLC purchased a new stake in Sinclair in the third quarter valued at $257,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on SBGI shares. Wall Street Zen raised Sinclair from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. JPMorgan Chase & Co. lifted their price target on Sinclair from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, August 21st. Zacks Research raised Sinclair from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 8th. Finally, Weiss Ratings upgraded Sinclair from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sinclair currently has a consensus rating of “Hold” and an average price target of $19.40.

About Sinclair

Sinclair, Inc., formerly known as Sinclair Broadcast Group, is a U.S. media company focused on local television broadcasting. Its stations provide local news, sports and entertainment programming, often alongside content from major television networks. The company also operates national television brands, including Tennis Channel and the multicast networks Comet, Charge! and TBD. Its businesses include producing and distributing programming and selling advertising across its television and digital platforms.