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

Sinclair, Inc. (NASDAQ:SBGI) COO Robert Weisbord sold 10,000 shares of Sinclair stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $15.70, for a total transaction of $157,000.00. Following the completion of the transaction, the chief operating officer owned 284,525 shares in the company, valued at approximately $4,467,042.50. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

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

Sinclair Stock Up 0.1%

Shares of Sinclair stock opened at $14.07 on Wednesday. Sinclair, Inc. has a one year low of $11.89 and a one year high of $17.88. The company has a market cap of $980.40 million, a P/E ratio of -8.37 and a beta of 0.94. 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 fifty day moving average of $14.77 and a two-hundred day moving average of $14.75.

Sinclair (NASDAQ:SBGI) last issued its 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 net margin of 3.53% and a negative return on equity of 64.27%. The business had revenue of $836.00 million for the quarter, compared to the consensus estimate of $840.25 million. During the same quarter in the previous year, the firm earned $2.61 earnings per share. The business’s quarterly revenue was down 16.7% compared to the same quarter last year. On average, analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Tuesday, March 10th. Sinclair’s payout ratio is currently -59.52%.

Institutional Investors Weigh In On Sinclair

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

Analysts Set New Price Targets

SBGI has been the subject of a number of analyst reports. Weiss Ratings downgraded Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Wells Fargo & Company upped their price objective on Sinclair from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Wall Street Zen upgraded Sinclair from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Finally, Benchmark raised their target price on Sinclair from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sinclair presently 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.