A Board Director of broadcast TV station owner Sinclair Inc. has notified the Securities and Exchange Commission of the disposition of a significant amount of shares in the company, netting hundreds of thousands of dollars from the sale.
Daniel Keith on Tuesday sold 30,086 shares in Sinclair, which trades as “SBGI,” at an average strike price of $13.5758, reflecting the trading activity for the stock across March 5.
With the move, Keith will pocket upward of $408,441.52 before taxes, while retaining ownership in an additional 30,000 shares.
Sinclair shares since November 1 have been on the upswing, recovering from a late October dip to nearly $10 per share. However, one year ago SBGI was trading in the high-$15 range.
Keith is the the President and Founder of the Cavanaugh Group Inc., a Baltimore-based investment advisory firm founded in October 1995. He has served as a Sinclair director since May 2001.
Prior to establishing the Cavanaugh Group, Keith was the VP/Senior Portfolio Manager and Director of the Investment Management division of a local financial services company.
