Insider Selling: Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) Insider Sells 66,289 Shares of Stock

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) insider J Duncan Smith sold 66,289 shares of the stock in a transaction on Monday, April 5th. The shares were sold at an average price of $30.00, for a total transaction of $1,988,670.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

J Duncan Smith also recently made the following trade(s):

  • On Thursday, April 1st, J Duncan Smith sold 12,667 shares of Sinclair Broadcast Group stock. The shares were sold at an average price of $30.04, for a total transaction of $380,516.68.

Shares of SBGI stock opened at $29.97 on Thursday. The company has a debt-to-equity ratio of 6.81, a current ratio of 2.61 and a quick ratio of 2.61. The firm has a market cap of $2.22 billion, a PE ratio of -0.79 and a beta of 1.60. The company has a 50-day moving average of $33.45 and a two-hundred day moving average of $28.09. Sinclair Broadcast Group, Inc. has a 1-year low of $13.45 and a 1-year high of $39.60.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings data on Tuesday, February 23rd. The company reported $6.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.55 by $0.72. Sinclair Broadcast Group had a negative net margin of 46.11% and a positive return on equity of 72.44%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.53 billion. Sell-side analysts anticipate that Sinclair Broadcast Group, Inc. will post 13.65 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 24th. Stockholders of record on Wednesday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Tuesday, March 9th. Sinclair Broadcast Group’s payout ratio is 26.94%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Sinclair Broadcast Group in the fourth quarter worth approximately $18,730,000. Hsbc Holdings PLC lifted its stake in Sinclair Broadcast Group by 24.2% in the fourth quarter. Hsbc Holdings PLC now owns 32,976 shares of the company’s stock worth $1,056,000 after acquiring an additional 6,434 shares during the last quarter. Truist Financial Corp purchased a new position in Sinclair Broadcast Group in the fourth quarter worth approximately $785,000. Squarepoint Ops LLC lifted its stake in Sinclair Broadcast Group by 118.0% in the fourth quarter. Squarepoint Ops LLC now owns 51,506 shares of the company’s stock worth $1,640,000 after acquiring an additional 27,882 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Sinclair Broadcast Group by 252.3% in the fourth quarter. Morgan Stanley now owns 2,629,848 shares of the company’s stock worth $83,760,000 after acquiring an additional 1,883,393 shares during the last quarter. 59.00% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 9th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sinclair Broadcast Group in a research report on Tuesday, December 22nd. They issued a “hold” rating and a $30.00 target price for the company. Finally, Wells Fargo & Company upgraded shares of Sinclair Broadcast Group from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $24.00 to $31.00 in a research report on Thursday, December 17th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $25.57.

Sinclair Broadcast Group Company Profile

Sinclair Broadcast Group, Inc operates as a diversified television media company in the United States. The company operates in two segments, Broadcast and Local Sports. It owns or provides various programming, operating, sales, and other non-programming operating services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations.

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Insider Buying and Selling by Quarter for Sinclair Broadcast Group (NASDAQ:SBGI)

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