Key Points
- Sinclair EVP David Gibber sold 29,376 shares on Dec. 11 at an average price of $16.67 for about $489,698, reducing his stake by 15.09% to 165,272 shares (≈$2.76M).
- The company declared a quarterly dividend of $0.25 per share (annualized $1.00) for a 6.1% yield, with an ex-dividend date of Dec. 1 and payment on Dec. 15, despite a negative payout ratio of -161.29%.
- Sinclair posted quarterly revenue of $773M and EPS of -$0.02, which beat estimates, its market cap is about $1.15B (52-week range $11.89–$17.88), and analysts have an average "Hold" rating with a $19 consensus target.
Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) EVP David Gibber sold 29,376 shares of the company's stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $16.67, for a total value of $489,697.92. Following the transaction, the executive vice president owned 165,272 shares in the company, valued at $2,755,084.24. This trade represents a 15.09% 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 Trading Down 3.2%
SBGI opened at $16.45 on Friday. Sinclair, Inc. has a 52 week low of $11.89 and a 52 week high of $17.88. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 14.77. The business has a fifty day simple moving average of $14.71 and a 200-day simple moving average of $14.34. The firm has a market cap of $1.15 billion, a P/E ratio of -26.53 and a beta of 0.99.
Sinclair (NASDAQ:SBGI - Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $0.63. Sinclair had a negative return on equity of 10.19% and a negative net margin of 1.35%.The firm had revenue of $773.00 million for the quarter, compared to the consensus estimate of $766.78 million. During the same quarter in the previous year, the business earned $1.43 EPS. The company's quarterly revenue was down 15.7% compared to the same quarter last year. On average, equities analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current year.
Sinclair Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Monday, December 1st. Sinclair's dividend payout ratio is currently -161.29%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on SBGI. Guggenheim lifted their price objective on shares of Sinclair from $19.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, November 13th. Wall Street Zen raised shares of Sinclair from a "sell" rating to a "hold" rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Sinclair in a research report on Monday. Finally, Zacks Research upgraded Sinclair from a "strong sell" rating to a "hold" rating in a report on Thursday, November 13th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $19.00.
Get Our Latest Report on Sinclair
Institutional Investors Weigh In On Sinclair
A number of large investors have recently modified their holdings of SBGI. Gamco Investors INC. ET AL raised its stake in 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position in Sinclair by 65.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company's stock worth $11,422,000 after buying an additional 282,400 shares during the period. Verition Fund Management LLC lifted its stake in Sinclair by 890.3% in the third quarter. Verition Fund Management LLC now owns 306,637 shares of the company's stock valued at $4,630,000 after buying an additional 275,674 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of Sinclair by 46.4% in the third quarter. Pinnacle Associates Ltd. now owns 668,621 shares of the company's stock valued at $10,096,000 after acquiring an additional 212,040 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Sinclair during the second quarter worth approximately $2,292,000. 41.71% of the stock is owned by hedge funds and other institutional investors.
Sinclair Company Profile
(
Get Free Report)
Sinclair, Inc, a media company, provides content on local television stations and digital platforms in the United States. It operates through two segments, Local Media and Tennis. The Local Media segment operates broadcast television stations, original networks, and content; provides free-over-the-air programming and live local sporting events on its stations; distributes its content to multi-channel video programming distributors in exchange for contractual fees; and produces local and original news programs.
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