Sinclair (NASDAQ:SBGI) Director Sells 150,000 Shares of Company Stock

Sinclair, Inc. (NASDAQ:SBGI) Director Robert Smith sold 150,000 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $13.64, for a total value of $2,046,000.00. Following the transaction, the director directly owned 50,000 shares in the company, valued at approximately $682,000. This represents a 75.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sinclair Stock Performance

Shares of SBGI stock traded up $0.88 during mid-day trading on Tuesday, hitting $15.11. 1,492,497 shares of the company’s stock were exchanged, compared to its average volume of 708,818. Sinclair, Inc. has a fifty-two week low of $11.83 and a fifty-two week high of $17.88. The stock has a 50-day simple moving average of $13.17 and a two-hundred day simple moving average of $14.03. The company has a debt-to-equity ratio of 12.05, a current ratio of 1.97 and a quick ratio of 1.97.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, November 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.27 by $0.33. Sinclair had a negative return on equity of 4.00% and a net margin of 2.84%. The firm had revenue of $893.00 million during the quarter, compared to analyst estimates of $874.21 million. During the same period in the prior year, the firm posted ($0.02) earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, analysts predict that Sinclair, Inc. will post 1.35 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.25 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $1.00 annualized dividend and a yield of 6.6%. Sinclair’s payout ratio is 72.99%.

Institutional Investors Weigh In On Sinclair

A number of institutional investors have recently added to or reduced their stakes in SBGI. Farther Finance Advisors LLC raised its holdings in shares of Sinclair by 2,823.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,280 shares of the company’s stock worth $29,000 after purchasing an additional 2,202 shares during the period. Jacobi Capital Management LLC acquired a new position in shares of Sinclair in the 3rd quarter valued at about $37,000. Public Employees Retirement System of Ohio acquired a new position in shares of Sinclair in the 2nd quarter valued at about $100,000. Waverly Advisors LLC purchased a new stake in shares of Sinclair during the 1st quarter worth about $157,000. Finally, Empowered Funds LLC purchased a new stake in shares of Sinclair during the 1st quarter worth about $191,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SBGI. Zacks Research upgraded shares of Sinclair from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 8th. JPMorgan Chase & Co. raised their target price on shares of Sinclair from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Friday, August 21st. Wall Street Zen upgraded shares of Sinclair from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings upgraded shares of Sinclair from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.40.

About Sinclair

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.