Sinclair (NASDAQ:SBGI) Director Daniel Keith Sells 17,000 Shares of Stock

Sinclair, Inc. (NASDAQ:SBGI) Director Daniel Keith sold 17,000 shares of Sinclair stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $15.02, for a total value of $255,340.00. Following the transaction, the director directly owned 25,122 shares in the company, valued at approximately $377,332.44. The trade was a 40.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Sinclair Price Performance

Shares of NASDAQ:SBGI opened at $14.78 on Wednesday. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 11.10. The stock has a market cap of $1.07 billion, a PE ratio of 16.42 and a beta of 1.04. The stock’s fifty day simple moving average is $14.20 and its two-hundred day simple moving average is $14.54. Sinclair, Inc. has a 1-year low of $11.89 and a 1-year high of $17.88.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Thursday, April 30th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of ($0.68) by $0.96. Sinclair had a net margin of 2.00% and a negative return on equity of 12.62%. The company had revenue of $807.00 million during the quarter, compared to the consensus estimate of $792.63 million. During the same quarter in the prior year, the company posted ($2.30) earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts forecast that Sinclair, Inc. will post 1.68 EPS for the current fiscal year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.00 annualized dividend and a dividend yield of 6.8%. Sinclair’s dividend payout ratio (DPR) is currently 111.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Madison Avenue Partners LP purchased a new stake in shares of Sinclair during the fourth quarter worth $13,918,000. Goldman Sachs Group Inc. grew its position in shares of Sinclair by 143.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 906,872 shares of the company’s stock valued at $13,875,000 after purchasing an additional 534,573 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Sinclair by 23.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,946,274 shares of the company’s stock valued at $29,778,000 after purchasing an additional 373,566 shares during the period. Verition Fund Management LLC lifted its holdings in Sinclair by 890.3% during the 3rd quarter. Verition Fund Management LLC now owns 306,637 shares of the company’s stock worth $4,630,000 after purchasing an additional 275,674 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Sinclair by 5.9% during the 4th quarter. Vanguard Group Inc. now owns 3,934,311 shares of the company’s stock worth $60,195,000 after purchasing an additional 220,623 shares in the last quarter. Institutional investors own 41.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on SBGI shares. Wells Fargo & Company decreased their price target on Sinclair from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. JPMorgan Chase & Co. reduced their price objective on Sinclair from $15.00 to $14.00 and set an “underweight” rating for the company in a research note on Wednesday, April 1st. Guggenheim decreased their target price on Sinclair from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Weiss Ratings upgraded Sinclair from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of Sinclair in a report on Wednesday, April 15th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sinclair has a consensus rating of “Hold” and a consensus price target of $19.20.

Sinclair Company Profile

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.