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

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

Sinclair Trading Down 0.4%

Sinclair stock opened at $13.01 on Friday. Sinclair, Inc. has a one year low of $11.89 and a one year high of $17.88. The company’s fifty day moving average price is $14.31 and its two-hundred 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. The company has a market capitalization of $931.78 million, a price-to-earnings ratio of -7.74 and a beta of 1.03.

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

Sinclair Dividend Announcement

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

Institutional Investors Weigh In On Sinclair

Several institutional investors and hedge funds have recently bought and sold shares of the business. Gamco Investors INC. ET AL raised its holdings in shares of Sinclair by 7.7% in the 3rd quarter. Gamco Investors INC. ET AL now owns 4,242,962 shares of the company’s stock worth $64,069,000 after buying an additional 302,160 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Sinclair by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 3,934,311 shares of the company’s stock worth $60,195,000 after acquiring an additional 220,623 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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. Capital Management Corp VA raised its stake in shares of Sinclair by 6.2% during the third quarter. Capital Management Corp VA now owns 1,655,050 shares of the company’s stock worth $24,991,000 after buying an additional 97,226 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Sinclair by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,509,006 shares of the company’s stock valued at $23,089,000 after purchasing an additional 73,241 shares during the period. Institutional investors own 41.71% of the company’s stock.

Analysts Set New Price Targets

SBGI has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Sinclair from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 26th. Wall Street Zen raised Sinclair from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Weiss Ratings downgraded shares of Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Benchmark upped their target price on shares of Sinclair from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Sinclair from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Sinclair presently has a consensus rating of “Hold” and an average price target of $20.25.

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.