Insider Selling: Sinclair (NASDAQ:SBGI) COO Sells 3,672 Shares of Stock
by Scott Moore · The Cerbat GemSinclair, Inc. (NASDAQ:SBGI – Get Free Report) COO Robert Weisbord sold 3,672 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $13.97, for a total value of $51,297.84. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
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 value of $157,000.00.
Sinclair Trading Up 0.1%
Shares of NASDAQ SBGI traded up $0.01 during midday trading on Tuesday, hitting $14.07. The stock had a trading volume of 249,071 shares, compared to its average volume of 518,076. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 11.78. Sinclair, Inc. has a 1-year low of $11.89 and a 1-year 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 fifty day moving average price of $14.77 and a 200 day moving average price of $14.75.
Sinclair (NASDAQ:SBGI – Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.07. The firm had revenue of $836.00 million for the quarter, compared to analyst estimates of $840.25 million. Sinclair had a negative net margin of 3.53% and a negative return on equity of 64.27%. Sinclair’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.61 earnings per share. On average, analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current year.
Sinclair Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Tuesday, March 10th. Sinclair’s dividend payout ratio (DPR) is currently -59.52%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its holdings in Sinclair by 142.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock valued at $25,000 after purchasing an additional 1,065 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new position in Sinclair in the 4th quarter worth $32,000. Tower Research Capital LLC TRC boosted its position in Sinclair by 175.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock valued at $41,000 after buying an additional 1,882 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Sinclair during the third quarter valued at about $48,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Sinclair during the second quarter valued at about $54,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Benchmark upped their price target on shares of Sinclair from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings cut Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Wells Fargo & Company upped their target price on Sinclair from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 26th. Finally, Wall Street Zen upgraded Sinclair from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.00.
Get Our Latest Stock Report on SBGI
About Sinclair
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.