Sinclair (NASDAQ:SBGI) Director Robert Smith 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 shares were sold at an average price of $13.64, for a total value of $2,046,000.00. Following the sale, the director directly owned 50,000 shares in the company, valued at $682,000. This trade represents a 75.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Sinclair Price Performance

Shares of NASDAQ:SBGI opened at $15.11 on Wednesday. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 12.05. Sinclair, Inc. has a 12-month low of $11.83 and a 12-month high of $17.88. The business’s fifty day simple moving average is $13.17 and its 200-day simple moving average is $14.03.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $874.21 million. During the same period in the prior year, the business posted ($0.02) EPS. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. On average, analysts expect that Sinclair, Inc. will post 1.35 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 6.6%. Sinclair’s payout ratio is currently 72.99%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Sinclair

A number of institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its position in Sinclair by 2,823.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,280 shares of the company’s stock valued at $29,000 after buying an additional 2,202 shares in the last quarter. Jacobi Capital Management LLC purchased a new stake in Sinclair in the third quarter valued at about $37,000. Public Employees Retirement System of Ohio purchased a new stake in Sinclair in the second quarter valued at about $100,000. Waverly Advisors LLC acquired a new stake in Sinclair in the first quarter worth about $157,000. Finally, Empowered Funds LLC acquired a new stake in Sinclair in the first quarter worth about $191,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.