The EC of Sinclair Broadcast (NASDAQ: SBGI) is Buying Shares

By Carrie Williams

Today, the EC of Sinclair Broadcast (SBGIResearch Report), David D. Smith, bought shares of SBGI for $36.62K.

Following David D. Smith’s last SBGI Buy transaction on June 13, 2017, the stock climbed by 3.5%. In addition to David D. Smith, 2 other SBGI executives reported Buy trades in the last month.

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Based on Sinclair Broadcast’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $893 million and quarterly net profit of $206 million. In comparison, last year the company earned revenue of $734 million and had a net profit of $444 million. SBGI’s market cap is $3.52B and the company has a P/E ratio of 10.92. Currently, Sinclair Broadcast has an average volume of 274.9K.

Based on 4 analyst ratings, the analyst consensus is Strong Buy with an average price target of $41.00, reflecting a 10.0% upside. Three different firms, including Benchmark Co. and RBC Capital, currently also have a Buy rating on the stock.

In the last 30 days, insiders have sold $6.1M worth of SBGI shares and purchased $36.62K worth of SBGI shares. The insider sentiment on Sinclair Broadcast has been negative according to 39 insider trades in the past three months. This sentiment is lower 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 Broadcast segment. The Broadcast segment provides free over-the-air programming to television viewing audiences in the communities through local television stations.