Daniel Keith Sells 22,613 Shares of Sinclair (NASDAQ:SBGI) Stock

Sinclair, Inc. (NASDAQ:SBGI) Director Daniel Keith sold 22,613 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $13.10, for a total value of $296,230.30. Following the completion of the transaction, the director owned 25,027 shares of the company’s stock, valued at $327,853.70. The trade was a 47.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Sinclair Price Performance

Shares of NASDAQ SBGI traded down $0.05 during trading on Thursday, hitting $13.01. 410,579 shares of the company were exchanged, compared to its average volume of 522,421. The company has a market cap of $931.78 million, a price-to-earnings ratio of -7.74 and a beta of 1.03. Sinclair, Inc. has a 1 year low of $11.89 and a 1 year high of $17.88. The firm’s fifty day moving average price is $14.31 and its 200 day moving average price is $14.67. The company has a debt-to-equity ratio of 11.78, a current ratio of 2.42 and a quick ratio of 2.42.

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

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $1.00 dividend on an annualized basis and a yield of 7.7%. Sinclair’s dividend payout ratio (DPR) is -59.52%.

Hedge Funds Weigh In On Sinclair

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Madison Avenue Partners LP purchased a new stake in shares of Sinclair in the fourth quarter valued at about $13,918,000. Goldman Sachs Group Inc. increased its stake in shares of Sinclair by 143.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 906,872 shares of the company’s stock worth $13,875,000 after purchasing an additional 534,573 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 worth $29,778,000 after purchasing an additional 373,566 shares during the last quarter. Gamco Investors INC. ET AL raised its position in shares of Sinclair by 7.7% during the 3rd quarter. Gamco Investors INC. ET AL now owns 4,242,962 shares of the company’s stock worth $64,069,000 after purchasing an additional 302,160 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in Sinclair by 890.3% in the 3rd quarter. Verition Fund Management LLC now owns 306,637 shares of the company’s stock valued at $4,630,000 after buying an additional 275,674 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on SBGI shares. Wells Fargo & Company boosted their price target on Sinclair from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 26th. JPMorgan Chase & Co. dropped 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. Wall Street Zen raised Sinclair from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Weiss Ratings downgraded Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Finally, Benchmark upped their target price on Sinclair from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.25.

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.