A Director at Sinclair Broadcast (NASDAQ: SBGI) is Buying Shares

By Carrie Williams

Today, a Director at Sinclair Broadcast (SBGIResearch Report), Lawrence Mccanna, bought shares of SBGI for $55.05K.

This recent transaction increases Lawrence Mccanna’s holding in the company by 24.81% to a total of $361.2K. This is Mccanna’s first Buy trade following 10 Sell transactions.

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Based on Sinclair Broadcast’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $1.62 billion and quarterly net profit of $44 million. In comparison, last year the company earned revenue of $893 million and had a net profit of $206 million. The company has a one-year high of $66.57 and a one-year low of $10.58. SBGI’s market cap is $1.31B and the company has a P/E ratio of 28.25.

The insider sentiment on Sinclair Broadcast has been positive according to 46 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Sinclair Broadcast Group, Inc. is a television broadcasting company, which engages in the provision of content on local television stations and digital and other platforms. It operates through the Local News and Marketing Services, and Sports segments.