Sinclair (NASDAQ:SBGI) Director Daniel Keith Sells 17,989 Shares

Sinclair, Inc. (NASDAQ:SBGI) Director Daniel Keith sold 17,989 shares of the company’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $13.10, for a total transaction of $235,655.90. Following the sale, the director directly owned 49,038 shares of the company’s stock, valued at approximately $642,397.80. This represents a 26.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Sinclair Stock Down 0.4%

Sinclair stock opened at $13.01 on Friday. 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, Inc. has a fifty-two week low of $11.89 and a fifty-two week high of $17.88. The firm has a fifty day moving average price of $14.31 and a two-hundred day moving average price of $14.67. The firm has a market cap of $931.78 million, a price-to-earnings ratio of -7.74 and a beta of 1.03.

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

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.7%. Sinclair’s dividend payout ratio is currently -59.52%.

Analyst Ratings Changes

Several brokerages recently issued reports on SBGI. Wall Street Zen upgraded Sinclair from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Benchmark lifted their price objective on Sinclair from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Wells Fargo & Company boosted their price objective on Sinclair from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. JPMorgan Chase & Co. reduced their target price on Sinclair from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, Weiss Ratings downgraded shares of Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.25.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Capital Management Corp VA boosted its position in Sinclair by 6.2% in the third quarter. Capital Management Corp VA now owns 1,655,050 shares of the company’s stock valued at $24,991,000 after buying an additional 97,226 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Sinclair by 5.4% during the second quarter. Gamco Investors INC. ET AL now owns 3,940,802 shares of the company’s stock worth $54,462,000 after buying an additional 200,415 shares in the last quarter. Optimize Financial Inc bought a new position in shares of Sinclair in the third quarter valued at approximately $1,617,000. Squarepoint Ops LLC raised its stake in shares of Sinclair by 109.4% in the second quarter. Squarepoint Ops LLC now owns 131,784 shares of the company’s stock valued at $1,821,000 after acquiring an additional 68,857 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in shares of Sinclair by 46.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 668,621 shares of the company’s stock worth $10,096,000 after acquiring an additional 212,040 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

About Sinclair

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.