Sonic Automotive, Inc. (NYSE:SAH) CFO Heath Byrd Sells 34,186 Shares of Stock

Sonic Automotive, Inc. (NYSE:SAH) CFO Heath Byrd sold 34,186 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $54.01, for a total transaction of $1,846,385.86. Following the sale, the chief financial officer now directly owns 168,622 shares of the company’s stock, valued at $9,107,274.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Heath Byrd also recently made the following trade(s):

• On Wednesday, September 6th, Heath Byrd sold 3,800 shares of Sonic Automotive stock. The shares were sold at an average price of $54.00, for a total transaction of $205,200.00.
• On Thursday, August 31st, Heath Byrd sold 100 shares of Sonic Automotive stock. The shares were sold at an average price of $54.06, for a total transaction of $5,406.00.
• On Wednesday, July 19th, Heath Byrd sold 5,473 shares of Sonic Automotive stock. The shares were sold at an average price of $54.05, for a total transaction of $295,815.65.

Sonic Automotive Stock Performance

Shares of SAH opened at $54.09 on Friday. The company’s fifty day moving average is $51.20 and its 200-day moving average is $49.35. Sonic Automotive, Inc. has a 12 month low of $39.02 and a 12 month high of $62.26. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -51.51 and a beta of 1.81. The company has a quick ratio of 0.42, a current ratio of 1.15 and a debt-to-equity ratio of 2.17.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Thursday, July 27th. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.20. Sonic Automotive had a negative net margin of 0.23% and a positive return on equity of 32.18%. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period last year, the business posted $2.45 EPS. Sonic Automotive’s revenue was up 4.2% compared to the same quarter last year. Equities analysts expect that Sonic Automotive, Inc. will post 6.7 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.16 dividend on an annualized basis and a yield of 2.14%. Sonic Automotive’s payout ratio is presently -110.48%.

Analyst Ratings Changes

SAH has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Sonic Automotive from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, July 31st. StockNews.com started coverage on shares of Sonic Automotive in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Stephens increased their target price on shares of Sonic Automotive from $55.00 to $60.00 in a research report on Wednesday, July 19th. Benchmark cut their target price on shares of Sonic Automotive from $71.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 1st. Finally, TheStreet downgraded shares of Sonic Automotive from a “b” rating to a “c+” rating in a research report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SAH. Point72 Hong Kong Ltd acquired a new position in Sonic Automotive in the 1st quarter valued at $26,000. Envestnet Asset Management Inc. acquired a new stake in Sonic Automotive in the 1st quarter worth $28,000. Ameritas Advisory Services LLC acquired a new stake in Sonic Automotive in the 1st quarter worth $55,000. Avion Wealth acquired a new stake in Sonic Automotive in the 2nd quarter worth $73,000. Finally, Allspring Global Investments Holdings LLC grew its position in Sonic Automotive by 79.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,461 shares of the company’s stock worth $79,000 after purchasing an additional 648 shares during the last quarter. 48.58% 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 three segments, Franchised Dealerships, EchoPark, and Powersports. 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.