Sinclair (NASDAQ:SBGI) Stock: Insider Robert Weisbord Sells 10,000 Shares

Sinclair, Inc. (NASDAQ:SBGI) COO Robert Weisbord sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $15.02, for a total value of $150,200.00. Following the transaction, the chief operating officer owned 289,408 shares of the company’s stock, valued at approximately $4,346,908.16. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sinclair Price Performance

NASDAQ SBGI traded up $0.56 during trading on Friday, reaching $15.14. The company’s stock had a trading volume of 789,934 shares, compared to its average volume of 829,497. The firm has a fifty day moving average of $13.23 and a 200 day moving average of $14.03. Sinclair, Inc. has a one year low of $11.83 and a one year high of $17.88. The stock has a market capitalization of $1.09 billion, a PE ratio of 11.05 and a beta of 1.24. 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 issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $874.21 million. During the same quarter last year, the company posted ($0.02) EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. Analysts expect that Sinclair, Inc. will post 1.35 EPS for the current fiscal year.

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Tuesday, December 1st. Sinclair’s dividend payout ratio (DPR) is currently 72.99%.

Hedge Funds Weigh In On Sinclair

Large investors have recently modified their holdings of the company. Empowered Funds LLC grew its position in Sinclair by 443.5% during the third quarter. Empowered Funds LLC now owns 135,363 shares of the company’s stock valued at $1,718,000 after acquiring an additional 110,458 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Sinclair in the 3rd quarter worth approximately $2,256,000. Russell Investments Group Ltd. lifted its holdings in shares of Sinclair by 216.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 104,042 shares of the company’s stock worth $1,320,000 after acquiring an additional 71,134 shares during the last quarter. Jacobi Capital Management LLC purchased a new stake in shares of Sinclair in the 3rd quarter valued at $37,000. Finally, Capital Management Corp VA boosted its stake in shares of Sinclair by 2.1% in the 3rd quarter. Capital Management Corp VA now owns 1,437,884 shares of the company’s stock valued at $18,247,000 after purchasing an additional 28,902 shares in the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBGI. JPMorgan Chase & Co. raised their price objective on shares of Sinclair from $14.00 to $15.00 and gave the company 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 research report on Saturday, November 7th. Weiss Ratings upgraded shares of Sinclair from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, November 9th. Finally, Zacks Research raised Sinclair from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 8th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average 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.