Sinclair (NASDAQ:SBGI) COO Robert Weisbord Sells 3,672 Shares

Sinclair, Inc. (NASDAQ:SBGI) COO Robert Weisbord sold 3,672 shares of Sinclair stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $13.97, for a total transaction of $51,297.84. Following the transaction, the chief operating officer directly owned 280,853 shares in the company, valued at $3,923,516.41. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, March 2nd, Robert Weisbord sold 10,000 shares of Sinclair stock. The shares were sold at an average price of $15.70, for a total transaction of $157,000.00.

Sinclair Price Performance

SBGI stock opened at $14.07 on Wednesday. The company has a debt-to-equity ratio of 11.78, a quick ratio of 2.42 and a current ratio of 2.42. The firm has a market cap of $980.40 million, a P/E ratio of -8.37 and a beta of 0.94. The firm’s fifty day moving average is $14.77 and its 200 day moving average is $14.75. 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 data on Wednesday, February 25th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. The firm had revenue of $836.00 million for the quarter, compared to analysts’ expectations of $840.25 million. Sinclair had a negative return on equity of 64.27% and a negative net margin of 3.53%.The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period last year, the firm earned $2.61 earnings per share. Research analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.1%. The ex-dividend date is Tuesday, March 10th. Sinclair’s dividend payout ratio (DPR) is presently -59.52%.

Institutional Trading of Sinclair

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Gamco Investors INC. ET AL grew its holdings in shares of Sinclair by 7.7% during the 3rd quarter. Gamco Investors INC. ET AL now owns 4,242,962 shares of the company’s stock worth $64,069,000 after acquiring an additional 302,160 shares during the period. Vanguard Group Inc. grew its stake in Sinclair by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 3,934,311 shares of the company’s stock worth $60,195,000 after purchasing an additional 220,623 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Sinclair by 23.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,946,274 shares of the company’s stock worth $29,778,000 after purchasing an additional 373,566 shares in the last quarter. Capital Management Corp VA lifted its position in Sinclair by 6.2% during the third quarter. Capital Management Corp VA now owns 1,655,050 shares of the company’s stock valued at $24,991,000 after buying an additional 97,226 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Sinclair by 5.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,509,006 shares of the company’s stock valued at $23,089,000 after buying an additional 73,241 shares in the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Weiss Ratings lowered Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Benchmark upped 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. Wells Fargo & Company increased their price target on shares of Sinclair from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. Finally, Wall Street Zen raised shares of Sinclair from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.00.

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.