Sonic Automotive Inc (NYSE:SAH) President Sells $750,000.00 in Stock

Sonic Automotive Inc (NYSE:SAH) President Jeff Dyke sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $30.00, for a total transaction of $750,000.00. Following the sale, the president now owns 1,290,003 shares of the company’s stock, valued at $38,700,090. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of SAH stock traded down $0.13 during mid-day trading on Wednesday, reaching $32.10. The stock had a trading volume of 529,105 shares, compared to its average volume of 254,968. The firm has a market capitalization of $1.25 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 4.12 and a beta of 1.87. The stock’s 50-day moving average price is $27.24 and its two-hundred day moving average price is $20.79. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 1.35. Sonic Automotive Inc has a 52-week low of $12.78 and a 52-week high of $32.68.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Thursday, July 25th. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.15. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.52 billion. Sonic Automotive had a net margin of 1.05% and a return on equity of 11.27%. Sonic Automotive’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. On average, equities research analysts forecast that Sonic Automotive Inc will post 2.34 earnings per share for the current year.



The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, September 12th. Sonic Automotive’s payout ratio is 22.60%.

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised Sonic Automotive from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $23.00 to $30.00 in a research note on Tuesday. Stephens raised Sonic Automotive from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $19.00 to $30.00 in a research note on Wednesday, June 5th. ValuEngine downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley increased their price objective on Sonic Automotive from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Finally, TheStreet raised Sonic Automotive from a “c” rating to a “b” rating in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $24.50.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its holdings in Sonic Automotive by 0.9% in the 2nd quarter. Northern Trust Corp now owns 1,226,566 shares of the company’s stock worth $28,639,000 after buying an additional 11,440 shares during the period. Invesco Ltd. grew its position in shares of Sonic Automotive by 72.1% in the 2nd quarter. Invesco Ltd. now owns 567,155 shares of the company’s stock worth $13,243,000 after buying an additional 237,690 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Sonic Automotive by 3.9% during the second quarter. Bank of New York Mellon Corp now owns 499,834 shares of the company’s stock valued at $11,671,000 after buying an additional 18,926 shares during the period. Marshall Wace LLP increased its stake in shares of Sonic Automotive by 158.6% during the second quarter. Marshall Wace LLP now owns 253,175 shares of the company’s stock valued at $5,912,000 after buying an additional 155,281 shares during the period. Finally, Morgan Stanley increased its stake in shares of Sonic Automotive by 18.5% during the second quarter. Morgan Stanley now owns 245,896 shares of the company’s stock valued at $5,742,000 after buying an additional 38,362 shares during the period. 61.36% of the stock is owned by institutional investors and hedge funds.

Sonic Automotive Company Profile

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products.

Featured Article: The primary rules of Elliott Wave theory

Receive News & Ratings for Sonic Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonic Automotive and related companies with MarketBeat.com's FREE daily email newsletter.