Key Points
- Director Benson Legg sold 6,548 shares on Dec. 19 at an average price of $15.81 for a total of $103,523.88, trimming his position by 8.43% to 71,165 shares valued at about $1.13M.
- Dividend announced: Sinclair paid a $0.25 quarterly dividend (annualized $1.00) representing a 6.5% yield, while the dividend payout ratio is a negative -161.29%.
- Recent results: Sinclair reported Q earnings of ($0.02) vs. estimates of ($0.65) with $773M revenue, but revenue fell 15.7% YoY and the company posted a negative net margin and return on equity.
Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) Director Benson Legg sold 6,548 shares of the company's stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $15.81, for a total transaction of $103,523.88. Following the completion of the sale, the director directly owned 71,165 shares of the company's stock, valued at $1,125,118.65. The trade was a 8.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Sinclair Stock Performance
Shares of SBGI stock opened at $15.34 on Wednesday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -24.74 and a beta of 0.99. 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 company's 50 day moving average is $15.02 and its 200 day moving average is $14.45.
Sinclair (NASDAQ:SBGI - Get Free Report) last posted its earnings results on Wednesday, November 5th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $773.00 million during the quarter, compared to analyst estimates of $766.78 million. During the same quarter in the prior year, the business earned $1.43 earnings per share. Sinclair's revenue was down 15.7% on a year-over-year basis. On average, sell-side analysts anticipate that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.
Sinclair Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.00 dividend on an annualized basis and a yield of 6.5%. Sinclair's dividend payout ratio (DPR) is presently -161.29%.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of SBGI. Gamco Investors INC. ET AL grew its holdings 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 last quarter. Charles Schwab Investment Management Inc. lifted its position in Sinclair by 65.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company's stock worth $11,422,000 after acquiring an additional 282,400 shares during the period. Verition Fund Management LLC grew its stake in Sinclair by 890.3% during the 3rd quarter. Verition Fund Management LLC now owns 306,637 shares of the company's stock valued at $4,630,000 after purchasing an additional 275,674 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Sinclair by 46.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 668,621 shares of the company's stock valued at $10,096,000 after purchasing an additional 212,040 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Sinclair in the second quarter valued at about $2,292,000. Institutional investors and hedge funds own 41.71% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Wall Street Zen raised shares of Sinclair from a "sell" rating to a "hold" rating in a research report on Saturday, November 8th. Guggenheim raised their target price on shares of Sinclair from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Sinclair in a research report on Monday. Finally, Zacks Research raised Sinclair from a "strong sell" rating to a "hold" rating in a research 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, Sinclair presently has a consensus rating of "Hold" and a consensus target price of $19.00.
Read Our Latest Analysis on Sinclair
Sinclair Company Profile
(
Get Free Report)
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.
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