David D. Smith Acquires 38,410 Shares of Sinclair, Inc. (NASDAQ:SBGI) Stock

Sinclair, Inc. (NASDAQ:SBGI) Chairman David D. Smith purchased 38,410 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $14.01 per share, for a total transaction of $538,124.10. Following the completion of the acquisition, the chairman now owns 645,564 shares of the company’s stock, valued at approximately $9,044,351.64. This represents a 6.33 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Sinclair Stock Up 5.7 %

Sinclair stock opened at $14.33 on Thursday. 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 company’s 50-day moving average is $15.10 and its 200-day moving average is $15.62. The firm has a market capitalization of $951.81 million, a PE ratio of -4.34 and a beta of 1.55. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.45.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share 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 the consensus estimate of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. Sell-side analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date is Monday, March 10th. Sinclair’s dividend payout ratio (DPR) is presently 21.46%.

Hedge Funds Weigh In On Sinclair

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new position in shares of Sinclair in the third quarter valued at about $39,000. GAMMA Investing LLC grew its stake in Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after buying an additional 613 shares during the last quarter. Federated Hermes Inc. bought a new position in Sinclair in the 4th quarter valued at about $47,000. Point72 DIFC Ltd acquired a new stake in Sinclair during the third quarter worth approximately $91,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of 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 acquiring an additional 1,700 shares during the period. 41.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and issued a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th. Guggenheim boosted their price target on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. StockNews.com cut Sinclair from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Wells Fargo & Company dropped their target price on Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. One investment 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $19.70.

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.