Insider Buying: Sonic Automotive Inc (NYSE:SAH) Director Buys $95,225.00 in Stock

Sonic Automotive Inc (NYSE:SAH) Director Marcus G. Smith acquired 6,500 shares of the stock in a transaction on Tuesday, March 17th. The shares were acquired at an average cost of $14.65 per share, for a total transaction of $95,225.00. Following the completion of the transaction, the director now directly owns 30,382 shares in the company, valued at approximately $445,096.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of NYSE:SAH opened at $13.52 on Thursday. The company has a market cap of $424.76 million, a price-to-earnings ratio of 4.11 and a beta of 1.85. The firm’s 50-day simple moving average is $24.61 and its 200-day simple moving average is $29.52. The company has a quick ratio of 0.24, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. Sonic Automotive Inc has a fifty-two week low of $9.00 and a fifty-two week high of $35.41.

Sonic Automotive (NYSE:SAH) last issued its earnings results on Wednesday, February 19th. The company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.09. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Sonic Automotive had a net margin of 1.38% and a return on equity of 12.96%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 earnings per share. On average, research analysts forecast that Sonic Automotive Inc will post 2.08 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, March 12th. Sonic Automotive’s payout ratio is 15.09%.

Several research analysts have issued reports on the stock. ValuEngine raised shares of Sonic Automotive from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. lowered their price objective on shares of Sonic Automotive from $35.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 11th. Finally, Benchmark lowered their price objective on shares of Sonic Automotive from $35.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Sonic Automotive currently has an average rating of “Hold” and a consensus target price of $29.17.

Large investors have recently modified their holdings of the company. Great West Life Assurance Co. Can purchased a new stake in shares of Sonic Automotive in the fourth quarter valued at about $925,000. State Street Corp boosted its holdings in shares of Sonic Automotive by 4.9% in the third quarter. State Street Corp now owns 963,948 shares of the company’s stock valued at $30,372,000 after acquiring an additional 45,195 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Sonic Automotive in the fourth quarter valued at about $369,000. Barclays PLC boosted its holdings in shares of Sonic Automotive by 17.5% in the third quarter. Barclays PLC now owns 43,837 shares of the company’s stock valued at $1,377,000 after acquiring an additional 6,517 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Sonic Automotive in the third quarter valued at about $169,000. 60.78% of the stock is currently 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.

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Insider Buying and Selling by Quarter for Sonic Automotive (NYSE:SAH)

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