Key Points
- Sinclair EVP David Gibber sold 29,246 shares at an average price of $13.74, generating approximately $401,840. Following the transaction, his holdings fell 13.7% to 184,244 shares.
- Sinclair reported a quarterly loss of $1.06 per share, missing the $0.24 consensus estimate, although revenue rose 7.1% year over year to $840 million.
- The company declared a quarterly dividend of $0.25, or $1.00 annually, implying a 7.2% yield; however, its 133.33% payout ratio and predominantly negative analyst ratings signal potential concerns about dividend sustainability and the stock’s outlook.
Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) EVP David Gibber sold 29,246 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $13.74, for a total transaction of $401,840.04. Following the completion of the sale, the executive vice president owned 184,244 shares of the company's stock, valued at approximately $2,531,512.56. This represents a 13.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Sinclair Price Performance
NASDAQ SBGI opened at $13.88 on Thursday. The company has a debt-to-equity ratio of 13.28, a quick ratio of 1.94 and a current ratio of 1.94. The firm's 50 day moving average price is $14.06 and its 200-day moving average price is $14.31. Sinclair, Inc. has a 52-week low of $12.46 and a 52-week high of $17.88. The company has a market cap of $1.00 billion, a PE ratio of 18.51 and a beta of 1.06.
Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.82). The business had revenue of $840.00 million for the quarter, compared to analysts' expectations of $838.99 million. Sinclair had a net margin of 1.60% and a negative return on equity of 16.09%. The business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.91) earnings per share. Sell-side analysts forecast that Sinclair, Inc. will post 1.48 EPS for the current fiscal year.
Sinclair Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.25 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.2%. Sinclair's dividend payout ratio (DPR) is currently 133.33%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Guggenheim decreased their price objective on Sinclair from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Tuesday, May 5th. Zacks Research lowered Sinclair from a "hold" rating to a "strong sell" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft set a $17.00 target price on shares of Sinclair in a report on Wednesday, April 15th. Wall Street Zen lowered shares of Sinclair from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings cut shares of Sinclair from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $19.20.
Read Our Latest Research Report on SBGI
Institutional Trading of Sinclair
Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Sinclair by 5.9% during the 4th quarter. Vanguard Group Inc. now owns 3,934,311 shares of the company's stock worth $60,195,000 after buying an additional 220,623 shares during the last quarter. Converium Capital Inc. increased its position in Sinclair by 15.8% during the 1st quarter. Converium Capital Inc. now owns 1,062,452 shares of the company's stock valued at $13,748,000 after buying an additional 144,674 shares in the last quarter. Madison Avenue Partners LP purchased a new stake in Sinclair in the fourth quarter valued at about $13,918,000. Dimensional Fund Advisors LP raised its stake in Sinclair by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,622,794 shares of the company's stock valued at $21,001,000 after buying an additional 113,788 shares during the last quarter. Finally, UBS Group AG boosted its holdings in Sinclair by 46.7% in the fourth quarter. UBS Group AG now owns 180,880 shares of the company's stock worth $2,767,000 after acquiring an additional 57,616 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company's stock.
About Sinclair
(
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
