Key Points
- Sinclair COO Robert Weisbord sold 10,000 shares for $150,200 at an average price of $15.02, reducing his stake by 3.34% to 289,408 shares.
- Sinclair reported quarterly EPS of $0.60, beating the $0.27 consensus estimate, while revenue of $893 million exceeded forecasts and rose 15.5% year over year.
- The company declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 6.6% yield; analysts’ consensus rating was Hold, with a $19.40 average price target.
Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) COO Robert Weisbord sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $15.02, for a total value of $150,200.00. Following the transaction, the chief operating officer owned 289,408 shares in the company, valued at $4,346,908.16. This represents a 3.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Sinclair Price Performance
SBGI traded up $0.56 during trading on Friday, hitting $15.14. The company's stock had a trading volume of 789,934 shares, compared to its average volume of 829,497. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 11.05 and a beta of 1.24. Sinclair, Inc. has a twelve month low of $11.83 and a twelve month high of $17.88. The business's fifty day simple moving average is $13.23 and its 200 day simple moving average is $14.03. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 12.05.
Sinclair (NASDAQ:SBGI - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.33. The business had revenue of $893.00 million during the quarter, compared to the consensus estimate of $874.21 million. Sinclair had a negative return on equity of 4.00% and a net margin of 2.84%. The business's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) EPS. On average, equities research analysts forecast that Sinclair, Inc. will post 1.35 EPS for the current fiscal year.
Sinclair Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.00 dividend on an annualized basis and a yield of 6.6%. Sinclair's dividend payout ratio (DPR) is currently 72.99%.
Analyst Upgrades and Downgrades
Several brokerages recently commented on SBGI. Zacks Research raised shares of Sinclair from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 8th. JPMorgan Chase & Co. increased their price objective on shares of Sinclair from $14.00 to $15.00 and gave the company an "underweight" rating in a report on Friday, August 21st. Wall Street Zen upgraded shares of Sinclair from a "hold" rating to a "buy" rating in a research report on Saturday, November 7th. Finally, Weiss Ratings upgraded Sinclair from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, November 9th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Sinclair currently has an average rating of "Hold" and a consensus target price of $19.40.
View Our Latest Report on Sinclair
Institutional Investors Weigh In On Sinclair
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in shares of Sinclair by 7.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,622,794 shares of the company's stock worth $21,001,000 after buying an additional 113,788 shares in the last quarter. Capital Management Corp VA lifted its stake in shares of Sinclair by 2.1% in the third quarter. Capital Management Corp VA now owns 1,437,884 shares of the company's stock worth $18,247,000 after buying an additional 28,902 shares in the last quarter. Converium Capital Inc. lifted its stake in shares of Sinclair by 15.8% in the first quarter. Converium Capital Inc. now owns 1,062,452 shares of the company's stock worth $13,748,000 after buying an additional 144,674 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in Sinclair by 4.5% during the third quarter. Pinnacle Associates Ltd. now owns 774,890 shares of the company's stock worth $9,833,000 after acquiring an additional 33,457 shares during the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in Sinclair during the third quarter worth about $2,256,000. Institutional investors and hedge funds own 41.71% of the company's stock.
Sinclair Company Profile
(
Get Free Report)
Sinclair, Inc., formerly known as Sinclair Broadcast Group, is a U.S. media company focused on local television broadcasting. Its stations provide local news, sports and entertainment programming, often alongside content from major television networks. The company also operates national television brands, including Tennis Channel and the multicast networks Comet, Charge! and TBD. Its businesses include producing and distributing programming and selling advertising across its television and digital platforms.
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].
