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

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith purchased 17,902 shares of the stock in a transaction dated Monday, March 24th. The shares were acquired at an average cost of $16.45 per share, for a total transaction of $294,487.90. Following the completion of the acquisition, the chairman now owns 1,082,771 shares of the company’s stock, valued at approximately $17,811,582.95. This represents a 1.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sinclair Price Performance

Shares of NASDAQ:SBGI opened at $16.69 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The stock has a market capitalization of $1.11 billion, a PE ratio of -5.06 and a beta of 1.50. The firm’s 50 day moving average price is $14.87 and its 200-day moving average price is $15.81. Sinclair, Inc. has a twelve month low of $11.13 and a twelve month high of $18.46.

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

Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.00 annualized dividend and a yield of 5.99%. Sinclair’s dividend payout ratio (DPR) is presently 21.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SBGI shares. Guggenheim decreased their target price on Sinclair from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Benchmark reissued a “buy” rating and set a $30.00 price objective on shares of Sinclair in a report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Finally, StockNews.com lowered shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.30.

Institutional Trading of Sinclair

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of Sinclair by 26.9% during the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after acquiring an additional 613 shares during the period. Federated Hermes Inc. bought a new stake in Sinclair during the 4th quarter worth approximately $47,000. Point72 DIFC Ltd bought a new position in shares of Sinclair in the third quarter worth approximately $91,000. New York State Common Retirement Fund boosted its position in shares of Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock worth $121,000 after purchasing an additional 1,700 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Sinclair in the fourth quarter worth $123,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.