David D. Smith Purchases 125,197 Shares of Sinclair, Inc. (NASDAQ:SBGI) Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith acquired 125,197 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average price of $14.98 per share, with a total value of $1,875,451.06. Following the acquisition, the chairman now owns 1,207,968 shares in the company, valued at $18,095,360.64. The trade was a 11.56 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Sinclair Stock Up 5.8 %

Shares of NASDAQ:SBGI opened at $14.14 on Thursday. Sinclair, Inc. has a 1 year low of $11.13 and a 1 year high of $18.46. 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 business’s 50-day moving average is $14.88 and its 200-day moving average is $15.88. The company has a market capitalization of $939.87 million, a price-to-earnings ratio of -4.28 and a beta of 1.29.

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

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a dividend of $0.25 per share. The ex-dividend date 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%.

Hedge Funds Weigh In On Sinclair

A number of institutional investors and hedge funds have recently made changes to their positions in SBGI. GAMMA Investing LLC boosted its holdings in Sinclair by 26.9% in the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares in the last quarter. Federated Hermes Inc. acquired a new position in shares of Sinclair during the fourth quarter worth approximately $47,000. NBC Securities Inc. lifted its holdings in shares of Sinclair by 105,075.0% in the 1st quarter. NBC Securities Inc. now owns 4,207 shares of the company’s stock worth $67,000 after purchasing an additional 4,203 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Sinclair during the 3rd quarter valued at $91,000. Finally, New York State Common Retirement Fund raised its holdings 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 worth $121,000 after buying an additional 1,700 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SBGI shares. StockNews.com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Guggenheim lowered 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 reiterated a “buy” rating and issued a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their price objective on Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One equities research 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’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.30.

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.