Sinclair (NASDAQ:SBGI) COO Sells $157,000.00 in Stock

Key Points

• COO Robert Weisbord sold 10,000 shares on March 2 at $15.70 for $157,000 (and an additional 3,672 shares on March 11 at $13.97), trimming his stake by 3.4% to 284,525 shares (≈$4.47M).
• Sinclair declared a quarterly dividend of $0.25 per share (annualized $1.00) representing a 7.1% yield, with an ex-dividend date of March 10 and payment on March 24.
• In the most recent quarter Sinclair reported EPS of $0.04, beating estimates, but revenue fell 16.7% year-over-year and the company showed a negative net margin (-3.53%) and negative ROE (-64.27%).

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) COO Robert Weisbord sold 10,000 shares of the business's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $15.70, for a total transaction of $157,000.00. Following the completion of the sale, the chief operating officer directly owned 284,525 shares of the company's stock, valued at approximately $4,467,042.50. The trade was a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Robert Weisbord also recently made the following trade(s):

• On Wednesday, March 11th, Robert Weisbord sold 3,672 shares of Sinclair stock. The stock was sold at an average price of $13.97, for a total transaction of $51,297.84.

Sinclair Price Performance

SBGI traded up $0.01 during midday trading on Tuesday, hitting $14.07. 249,071 shares of the company traded hands, compared to its average volume of 518,076. The business 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 52-week low of $11.89 and a 52-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 current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 11.78.

Sinclair (NASDAQ:SBGI - Get Free Report) last released its 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. Sinclair had a negative net margin of 3.53% and a negative return on equity of 64.27%. The business had revenue of $836.00 million during the quarter, compared to analysts' expectations of $840.25 million. During the same quarter in the previous year, the company earned $2.61 earnings per share. The company's quarterly revenue was down 16.7% on a year-over-year basis. On average, equities analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.1%. The ex-dividend date is Tuesday, March 10th. Sinclair's payout ratio is -59.52%.

Institutional Investors Weigh In On Sinclair

A number of large investors have recently made changes to their positions in SBGI. Geneos Wealth Management Inc. lifted its position in Sinclair by 142.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company's stock worth $25,000 after buying an additional 1,065 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in Sinclair in the 4th quarter valued at $32,000. Tower Research Capital LLC TRC increased its stake in shares of Sinclair by 175.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company's stock worth $41,000 after acquiring an additional 1,882 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Sinclair in the 3rd quarter worth $48,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Sinclair during the 2nd quarter worth $54,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SBGI. Weiss Ratings downgraded Sinclair from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, March 2nd. Wells Fargo & Company increased their price objective on Sinclair from $16.00 to $17.00 and gave the company an "equal weight" rating in a research note on Thursday, February 26th. Wall Street Zen upgraded Sinclair from a "sell" rating to a "hold" rating in a report on Sunday, February 22nd. Finally, Benchmark lifted their target price on shares of Sinclair from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $20.00.

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.

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