Sinclair (NASDAQ:SBGI) COO Sells $157,000.00 in Stock

Sinclair, Inc. (NASDAQ:SBGI) COO Robert Weisbord sold 10,000 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $15.70, for a total value of $157,000.00. Following the sale, the chief operating officer owned 284,525 shares in the company, valued at approximately $4,467,042.50. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Robert Weisbord also recently made the following trade(s):

• On Wednesday, March 11th, Robert Weisbord sold 3,672 shares of Sinclair stock. The stock was sold at an average price of $13.97, for a total value of $51,297.84.

Sinclair Stock Up 0.3%

Shares of NASDAQ SBGI opened at $13.25 on Friday. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 11.78. The company has a market cap of $923.31 million, a P/E ratio of -7.89 and a beta of 0.94. Sinclair, Inc. has a 52 week low of $11.89 and a 52 week high of $17.88. The business has a 50-day simple moving average of $14.71 and a two-hundred day simple moving average of $14.72.

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

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Tuesday, March 10th. Sinclair’s dividend payout ratio is -59.52%.

Institutional Investors Weigh In On Sinclair

Several hedge funds have recently bought and sold shares of the stock. Gamco Investors INC. ET AL increased 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 during the last quarter. Vanguard Group Inc. raised its position in shares of Sinclair by 5.9% during the 4th quarter. Vanguard Group Inc. now owns 3,934,311 shares of the company’s stock valued at $60,195,000 after buying an additional 220,623 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 acquiring an additional 373,566 shares during the last quarter. Capital Management Corp VA lifted its holdings in shares of Sinclair by 6.2% during the 3rd quarter. Capital Management Corp VA now owns 1,655,050 shares of the company’s stock worth $24,991,000 after acquiring an additional 97,226 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Sinclair by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,509,006 shares of the company’s stock worth $23,089,000 after acquiring an additional 73,241 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on SBGI. Benchmark raised their price target on shares of Sinclair from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Weiss Ratings cut shares of Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Wall Street Zen upgraded Sinclair from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Finally, Wells Fargo & Company lifted their price objective on Sinclair from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.00.

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.