Sinclair director Robert E. Smith sells $2.73M Class A shares

On November 6, 2026, Sinclair, Inc. Director and 10% Owner Robert E. Smith sold 150,000 shares of the company's Class A Common Stock. The transaction resulted in a total of $2,727,899, with individual share prices ranging from $13.5919 to $13.6575. Since the sale, the stock has increased to $15.10, trading close to InvestingPro's Fair Value estimation.

As part of the same transaction, Smith converted 85,192 shares of Class B Common Stock into an equivalent number of Class A Common Stock, without any additional compensation. Following these actions, Smith no longer owns any Class A Common Stock directly, having previously held them in various accounts. However, he still possesses other beneficial holdings, including 1,070.60 shares of Class A Common Stock in a 401(k) fund, 79,803.5 shares held directly, 121,750 shares of Class B Common Stock in an irrevocable trust for relatives, and 4,000 shares of Class A Common Stock within family accounts.

Despite this significant sale of Class A Common Stock, Sinclair Broadcast Group recently outperformed Wall Street's expectations for the third quarter of 2026. The company reported adjusted earnings of $0.60 per share, surpassing the previously anticipated $0.29 per share. Additionally, revenue for the quarter amounted to $893 million, exceeding the forecasted $872.9 million.

This impressive financial performance was driven by a surge in political advertising and enhanced operating leverage, indicating effective cost management and higher-margin revenue streams.