Sinclair (NASDAQ:SBGI) Director Robert Smith Sells 250,000 Shares of Company Stock

Sinclair, Inc. (NASDAQ:SBGI) Director Robert Smith sold 250,000 shares of the stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $13.98, for a total transaction of $3,495,000.00. Following the completion of the transaction, the director directly owned 250,000 shares of the company’s stock, valued at approximately $3,495,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Sinclair Price Performance

SBGI stock opened at $14.58 on Friday. The firm has a 50 day moving average of $13.21 and a 200-day moving average of $14.03. Sinclair, Inc. has a 12-month low of $11.83 and a 12-month high of $17.88. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 12.05. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 10.64 and a beta of 1.24.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.27 by $0.33. The business had revenue of $893.00 million for the quarter, compared to analyst estimates of $874.21 million. Sinclair had a negative return on equity of 4.00% and a net margin of 2.84%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.02) EPS. As a group, equities analysts expect that Sinclair, Inc. will post 1.35 EPS for the current fiscal year.

Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.00 annualized dividend and a yield of 6.9%. Sinclair’s payout ratio is currently 72.99%.

Wall Street Analysts Forecast Growth

SBGI has been the topic of several research reports. Weiss Ratings raised Sinclair from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday. Wall Street Zen raised Sinclair from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. JPMorgan Chase & Co. lifted their price target on Sinclair from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, August 21st. Finally, Zacks Research upgraded shares of Sinclair from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 8th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.40.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SBGI. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in shares of Sinclair by 3.6% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 29,000 shares of the company’s stock worth $375,000 after purchasing an additional 1,000 shares during the last quarter. Waverly Advisors LLC lifted its stake in Sinclair by 9.7% in the 2nd quarter. Waverly Advisors LLC now owns 13,346 shares of the company’s stock valued at $190,000 after buying an additional 1,181 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Sinclair by 2,823.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,280 shares of the company’s stock valued at $29,000 after buying an additional 2,202 shares during the last quarter. Jacobi Capital Management LLC acquired a new stake in Sinclair during the 3rd quarter valued at $37,000. Finally, Inceptionr LLC grew its holdings in Sinclair by 46.3% during the 1st quarter. Inceptionr LLC now owns 17,025 shares of the company’s stock valued at $220,000 after buying an additional 5,385 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Sinclair Company Profile

Sinclair, Inc., formerly known as Sinclair Broadcast Group, is a U.S. media company focused on local television broadcasting. Its stations provide local news, sports and entertainment programming, often alongside content from major television networks. The company also operates national television brands, including Tennis Channel and the multicast networks Comet, Charge! and TBD. Its businesses include producing and distributing programming and selling advertising across its television and digital platforms.