Sonic Automotive, Inc. (NYSE:SAH) CFO Heath Byrd Sells 93,714 Shares of Stock

Sonic Automotive, Inc. (NYSE:SAHGet Rating) CFO Heath Byrd sold 93,714 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $41.27, for a total value of $3,867,576.78. Following the completion of the sale, the chief financial officer now directly owns 146,600 shares of the company’s stock, valued at approximately $6,050,182. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sonic Automotive Trading Up 2.8 %

SAH opened at $43.02 on Tuesday. Sonic Automotive, Inc. has a 52 week low of $34.17 and a 52 week high of $58.00. The business has a fifty day simple moving average of $39.99 and a 200-day simple moving average of $44.65. The firm has a market cap of $1.70 billion, a P/E ratio of 4.85 and a beta of 2.05. The company has a quick ratio of 0.44, a current ratio of 1.10 and a debt-to-equity ratio of 1.39.

Sonic Automotive (NYSE:SAHGet Rating) last released its quarterly earnings results on Thursday, July 28th. The company reported $2.45 EPS for the quarter, missing the consensus estimate of $2.55 by ($0.10). Sonic Automotive had a return on equity of 36.01% and a net margin of 2.76%. The firm had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the prior year, the business earned $2.63 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities analysts expect that Sonic Automotive, Inc. will post 9.98 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.32%. Sonic Automotive’s dividend payout ratio is currently 11.27%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SAH shares. JPMorgan Chase & Co. cut their price target on Sonic Automotive from $51.00 to $47.00 in a report on Friday, July 15th. Seaport Res Ptn cut Sonic Automotive from a “buy” rating to a “neutral” rating in a research note on Friday, April 29th. Morgan Stanley cut their target price on Sonic Automotive from $40.00 to $33.00 and set an “underweight” rating for the company in a research note on Thursday, July 14th. Benchmark cut their target price on Sonic Automotive from $85.00 to $71.00 and set a “buy” rating for the company in a research note on Monday. Finally, StockNews.com cut Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Sonic Automotive presently has an average rating of “Hold” and a consensus target price of $50.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Investment Advisory Services LLC boosted its holdings in Sonic Automotive by 4.7% in the fourth quarter. Capital Investment Advisory Services LLC now owns 4,482 shares of the company’s stock valued at $222,000 after purchasing an additional 200 shares during the period. NorthCrest Asset Manangement LLC boosted its holdings in Sonic Automotive by 1.4% in the first quarter. NorthCrest Asset Manangement LLC now owns 18,000 shares of the company’s stock valued at $765,000 after purchasing an additional 250 shares during the period. Great West Life Assurance Co. Can boosted its holdings in Sonic Automotive by 1.7% in the first quarter. Great West Life Assurance Co. Can now owns 19,013 shares of the company’s stock valued at $830,000 after purchasing an additional 326 shares during the period. State of Alaska Department of Revenue boosted its holdings in Sonic Automotive by 2.5% in the second quarter. State of Alaska Department of Revenue now owns 14,786 shares of the company’s stock valued at $541,000 after purchasing an additional 355 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Sonic Automotive by 1.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 33,525 shares of the company’s stock valued at $1,425,000 after purchasing an additional 370 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

About Sonic Automotive

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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 for its guests.

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