Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) Chairman David D. Smith bought 30,296 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $14.09 per share, for a total transaction of $426,870.64. Following the completion of the purchase, the chairman now owns 728,986 shares of the company's stock, valued at approximately $10,271,412.74. The trade was a 4.34 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Sinclair Price Performance
Shares of NASDAQ:SBGI opened at $14.62 on Friday. 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 cap of $971.08 million, a PE ratio of -4.43 and a beta of 1.55. The company's fifty day moving average is $15.07 and its 200 day moving average is $15.62. Sinclair, Inc. has a 52 week low of $11.13 and a 52 week high of $18.45.
Sinclair (NASDAQ:SBGI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.62. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $1.01 billion. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. Research analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current year.
Sinclair Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a yield of 6.84%. Sinclair's dividend payout ratio (DPR) is 21.46%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new position in Sinclair during the third quarter valued at $39,000. GAMMA Investing LLC increased its position in shares of Sinclair by 26.9% during 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 during the period. Federated Hermes Inc. purchased a new position in Sinclair during the 4th quarter worth $47,000. Point72 DIFC Ltd bought a new stake in shares of Sinclair in the 3rd quarter valued at about $91,000. Finally, New York State Common Retirement Fund raised its position in shares of Sinclair by 29.4% in the 4th 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 in the last quarter. 41.71% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Benchmark reiterated a "buy" rating and issued a $30.00 target price on shares of Sinclair in a research note on Tuesday, January 28th. Wells Fargo & Company lowered their price target on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. Guggenheim boosted their price target on shares of Sinclair from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. StockNews.com lowered shares of Sinclair from a "buy" rating to a "hold" rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on shares of Sinclair from $14.00 to $16.00 and gave the stock an "underweight" rating in a report on Tuesday, November 12th. 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 stock. According to data from MarketBeat.com, Sinclair presently has an average rating of "Hold" and an average target price of $19.70.
Check Out Our Latest Analysis on Sinclair
About Sinclair
(
Get Free Report)
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.
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