Robert Weisbord Sells 10,000 Shares of Sinclair (NASDAQ:SBGI) Stock

Sinclair, Inc. (NASDAQ:SBGI) COO Robert Weisbord sold 10,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $15.70, for a total transaction of $157,000.00. Following the transaction, the chief operating officer directly owned 284,525 shares in the company, valued at approximately $4,467,042.50. The trade was a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Robert Weisbord also recently made the following trade(s):

• On Wednesday, March 11th, Robert Weisbord sold 3,672 shares of Sinclair stock. The stock was sold at an average price of $13.97, for a total transaction of $51,297.84.

Sinclair Price Performance

Shares of SBGI stock opened at $13.21 on Thursday. The company has a debt-to-equity ratio of 11.78, a current ratio of 2.42 and a quick ratio of 2.42. The firm’s 50-day moving average is $14.74 and its two-hundred day moving average is $14.73. Sinclair, Inc. has a 12 month low of $11.89 and a 12 month high of $17.88. The company has a market capitalization of $920.47 million, a PE ratio of -7.86 and a beta of 0.94.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.07. The business had revenue of $836.00 million during the quarter, compared to analysts’ expectations of $840.25 million. Sinclair had a negative net margin of 3.53% and a negative return on equity of 64.27%. The business’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.61 EPS. Analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.6%. The ex-dividend date is Tuesday, March 10th. Sinclair’s dividend payout ratio is presently -59.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SBGI shares. Weiss Ratings downgraded Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Wells Fargo & Company increased their price target on Sinclair from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Benchmark raised their price objective on Sinclair from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Wall Street Zen upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.00.

Institutional Trading of Sinclair

Several institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised its position in Sinclair by 142.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock valued at $25,000 after purchasing an additional 1,065 shares during the period. Hilton Head Capital Partners LLC acquired a new position in Sinclair during the fourth quarter worth $32,000. Tower Research Capital LLC TRC boosted its position in shares of Sinclair by 175.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock worth $41,000 after buying an additional 1,882 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of Sinclair during the third quarter worth $48,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Sinclair in the second quarter valued at $54,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.