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

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

Sinclair Stock Performance

Shares of SBGI stock opened at $14.14 on Thursday. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $18.46. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The firm has a market capitalization of $939.87 million, a PE ratio of -4.28 and a beta of 1.29. The firm has a fifty day simple moving average of $14.88 and a two-hundred day simple moving average of $15.88.

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

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 7.07%. Sinclair’s dividend payout ratio is currently 21.46%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Benchmark restated a “buy” rating and set a $30.00 price target on shares of Sinclair in a research note on Tuesday, January 28th. Guggenheim decreased their price target on shares of Sinclair from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, March 10th. 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 issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.30.

Institutional Trading of Sinclair

Institutional investors and hedge funds have recently made changes to their positions in the company. Kendall Capital Management purchased a new stake in shares of Sinclair in the fourth quarter valued at about $280,000. Verition Fund Management LLC bought a new position in Sinclair during the third quarter valued at about $822,000. Rhumbline Advisers grew its position in Sinclair by 56.3% during the fourth quarter. Rhumbline Advisers now owns 86,072 shares of the company’s stock valued at $1,389,000 after buying an additional 31,015 shares during the period. Barclays PLC grew its position in Sinclair by 378.1% during the third quarter. Barclays PLC now owns 54,229 shares of the company’s stock valued at $831,000 after buying an additional 42,887 shares during the period. Finally, New York State Common Retirement Fund grew its position in Sinclair by 29.4% during the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock valued at $121,000 after buying an additional 1,700 shares during the period. 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.