Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) Chairman David D. Smith acquired 63,073 shares of the stock in a transaction dated Wednesday, April 9th. The stock was purchased at an average cost of $12.91 per share, with a total value of $814,272.43. Following the purchase, the chairman now directly owns 1,526,029 shares of the company's stock, valued at $19,701,034.39. This trade represents a 4.31 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Sinclair Price Performance
Shares of NASDAQ SBGI opened at $13.19 on Friday. The company has a market capitalization of $876.73 million, a PE ratio of -4.00 and a beta of 1.29. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair, Inc. has a twelve month low of $11.13 and a twelve month high of $18.46. The firm has a fifty day simple moving average of $14.85 and a 200 day simple moving average of $15.87.
Sinclair (NASDAQ:SBGI - Get Free Report) last issued 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 during 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%. On average, sell-side analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current year.
Sinclair Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.58%. The ex-dividend date was Monday, March 10th. Sinclair's dividend payout ratio (DPR) is presently 21.46%.
Wall Street Analysts Forecast Growth
SBGI has been the topic of a number of research reports. StockNews.com lowered shares of Sinclair from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Benchmark restated a "buy" rating and issued a $30.00 price objective on shares of Sinclair in a report on Tuesday, January 28th. Wells Fargo & Company lowered their target price 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. Finally, Guggenheim reduced their price target on Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $19.30.
Check Out Our Latest Stock Analysis on Sinclair
Hedge Funds Weigh In On Sinclair
Institutional investors and hedge funds have recently modified their holdings of the business. HighTower Advisors LLC increased its stake in shares of Sinclair by 15.4% in the 3rd quarter. HighTower Advisors LLC now owns 28,463 shares of the company's stock valued at $433,000 after acquiring an additional 3,801 shares in the last quarter. Barclays PLC grew its holdings in Sinclair by 378.1% in the third quarter. Barclays PLC now owns 54,229 shares of the company's stock worth $831,000 after purchasing an additional 42,887 shares during the period. Geode Capital Management LLC increased its stake in Sinclair by 1.9% in the third quarter. Geode Capital Management LLC now owns 826,949 shares of the company's stock valued at $12,655,000 after purchasing an additional 15,263 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Sinclair by 26.9% during the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock valued at $47,000 after purchasing an additional 613 shares during the period. Finally, San Luis Wealth Advisors LLC acquired a new position in shares of Sinclair during the fourth quarter valued at about $791,000. 41.71% of the stock is currently owned by institutional investors.
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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