Key Points
- Robert Weisbord sold 10,000 shares of Sinclair on March 2 at an average price of $15.70 (about $157,000), cutting his stake by 3.4% to 284,525 shares valued near $4.47 million.
- Sinclair declared a quarterly dividend of $0.25 per share (annualized $1.00) with an ex-dividend/record date of March 10, implying a yield of roughly 7.1%.
- Recent results showed mixed performance — Sinclair reported $0.04 EPS versus a -$0.03 estimate, but revenue fell 16.7% year-over-year and the company showed negative net margin and return on equity.
Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) COO Robert Weisbord sold 3,672 shares of Sinclair stock in a transaction dated Wednesday, March 11th. The shares were 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 of the company's stock, valued at approximately $3,923,516.41. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $15.70, for a total transaction of $157,000.00.
Sinclair Price Performance
Shares of NASDAQ SBGI opened at $14.07 on Wednesday. The company has a 50 day simple moving average of $14.77 and a two-hundred day simple moving average of $14.75. Sinclair, Inc. has a fifty-two week low of $11.89 and a fifty-two week high of $17.88. The company has a market capitalization of $980.40 million, a price-to-earnings 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.
Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.04 EPS for the quarter, topping 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 business's revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.61 EPS. Analysts expect that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.
Sinclair Dividend Announcement
The business also recently announced 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 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Tuesday, March 10th. Sinclair's payout ratio is -59.52%.
Hedge Funds Weigh In On Sinclair
Hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp bought a new stake in shares of Sinclair in the fourth quarter worth $174,000. Madison Avenue Partners LP purchased a new position in Sinclair in the fourth quarter worth about $13,918,000. Aristeia Capital L.L.C. boosted its position in Sinclair by 22.3% in the fourth quarter. Aristeia Capital L.L.C. now owns 32,864 shares of the company's stock worth $503,000 after purchasing an additional 5,988 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Sinclair by 205.4% during the 4th quarter. AQR Capital Management LLC now owns 130,835 shares of the company's stock valued at $2,002,000 after purchasing an additional 87,988 shares during the period. Finally, Trexquant Investment LP bought a new stake in shares of Sinclair during the 4th quarter valued at about $170,000. 41.71% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on SBGI shares. Wall Street Zen upgraded shares of Sinclair from a "sell" rating to a "hold" rating in a research note on Sunday, February 22nd. Weiss Ratings downgraded shares of Sinclair from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, March 2nd. Benchmark increased 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. Finally, Wells Fargo & Company raised 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. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Sinclair has an average rating of "Hold" and a consensus target price of $20.00.
View Our Latest Stock 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.
Further Reading
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