Sinclair (NASDAQ:SBGI) Director Sells $255,340.00 in Stock

Sinclair, Inc. (NASDAQ:SBGI) Director Daniel Keith sold 17,000 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $15.02, for a total transaction of $255,340.00. Following the transaction, the director directly owned 25,122 shares of the company’s stock, valued at approximately $377,332.44. This trade represents a 40.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sinclair Stock Up 1.4%

Shares of SBGI opened at $14.54 on Friday. The stock’s 50-day moving average price is $14.15 and its 200-day moving average price is $14.51. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 11.10. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 16.16 and a beta of 1.04. Sinclair, Inc. has a 52 week low of $11.89 and a 52 week high of $17.88.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.96. Sinclair had a negative return on equity of 12.62% and a net margin of 2.00%.The company had revenue of $807.00 million during the quarter, compared to the consensus estimate of $792.63 million. During the same period in the previous year, the company posted ($2.30) earnings per share. Sinclair’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts predict that Sinclair, Inc. will post 1.68 EPS for the current year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Tuesday, May 26th. Sinclair’s payout ratio is currently 111.11%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SBGI. 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 research report on Wednesday, April 1st. Wells Fargo & Company reduced their price target on Sinclair from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $17.00 price objective on Sinclair in a report on Wednesday, April 15th. Weiss Ratings raised shares of Sinclair from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen upgraded Sinclair from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.20.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its position in shares of Sinclair by 142.0% in the 2nd 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 purchased a new stake in Sinclair in the 4th quarter valued at approximately $32,000. Tower Research Capital LLC TRC boosted its stake in shares of Sinclair by 175.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock valued at $41,000 after buying an additional 1,882 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Sinclair during the 3rd quarter worth $48,000. Finally, Raymond James Financial Inc. purchased a new stake in Sinclair during the second quarter worth about $54,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.