Sonic Automotive, Inc. (NYSE:SAH) President Jeff Dyke Sells 28,196 Shares

Sonic Automotive, Inc. (NYSE:SAHGet Rating) President Jeff Dyke sold 28,196 shares of Sonic Automotive stock in a transaction on Monday, August 1st. The shares were sold at an average price of $42.67, for a total transaction of $1,203,123.32. Following the completion of the sale, the president now owns 190,168 shares in the company, valued at $8,114,468.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Sonic Automotive Trading Up 2.8 %

NYSE SAH opened at $43.02 on Tuesday. The company has a quick ratio of 0.44, a current ratio of 1.10 and a debt-to-equity ratio of 1.39. The firm has a market cap of $1.70 billion, a PE ratio of 4.85 and a beta of 2.05. The company has a 50 day moving average price of $39.99 and a 200 day moving average price of $44.65. Sonic Automotive, Inc. has a 52 week low of $34.17 and a 52 week high of $58.00.

Sonic Automotive (NYSE:SAHGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported $2.45 EPS for the quarter, missing the consensus estimate of $2.55 by ($0.10). The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.90 billion. Sonic Automotive had a return on equity of 36.01% and a net margin of 2.76%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.63 EPS. As a group, sell-side analysts forecast that Sonic Automotive, Inc. will post 9.98 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Capital Investment Advisory Services LLC increased its stake in Sonic Automotive by 4.7% during the 4th 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 in the last quarter. NorthCrest Asset Manangement LLC increased its stake in Sonic Automotive by 1.4% during the 1st 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 in the last quarter. Great West Life Assurance Co. Can increased its stake in Sonic Automotive by 1.7% during the 1st 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 in the last quarter. State of Alaska Department of Revenue increased its stake in Sonic Automotive by 2.5% during the 2nd 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Sonic Automotive by 1.1% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

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

Sonic Automotive Company Profile

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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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