Insider Selling: Sonic Automotive, Inc. (NYSE:SAH) President Sells 1,838 Shares of Stock

Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) President Jeff Dyke sold 1,838 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $70.00, for a total value of $128,660.00. Following the completion of the transaction, the president now owns 637,121 shares of the company's stock, valued at approximately $44,598,470. This represents a 0.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jeff Dyke also recently made the following trade(s):

• On Monday, June 2nd, Jeff Dyke sold 576 shares of Sonic Automotive stock. The shares were sold at an average price of $70.02, for a total value of $40,331.52.
• On Friday, May 30th, Jeff Dyke sold 31,152 shares of Sonic Automotive stock. The shares were sold at an average price of $70.05, for a total value of $2,182,197.60.
• On Wednesday, May 28th, Jeff Dyke sold 16,434 shares of Sonic Automotive stock. The shares were sold at an average price of $70.03, for a total value of $1,150,873.02.

Sonic Automotive Price Performance

Shares of NYSE SAH traded up $0.23 during trading hours on Tuesday, reaching $70.90. 193,190 shares of the stock traded hands, compared to its average volume of 193,965. The company has a market capitalization of $2.41 billion, a P/E ratio of 11.47 and a beta of 1.04. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75. Sonic Automotive, Inc. has a 52-week low of $51.27 and a 52-week high of $76.78. The company's 50-day simple moving average is $62.60 and its two-hundred day simple moving average is $65.60.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.02. The company had revenue of $3.65 billion for the quarter, compared to analysts' expectations of $3.47 billion. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. Sonic Automotive's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $1.36 EPS. Equities research analysts forecast that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.97%. Sonic Automotive's dividend payout ratio (DPR) is currently 19.94%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Benchmark assumed coverage on Sonic Automotive in a research report on Wednesday, May 28th. They set a "buy" rating and a $76.00 price target for the company. Citigroup assumed coverage on Sonic Automotive in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 price target for the company. Needham & Company LLC dropped their price target on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Finally, Stephens lifted their price target on Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Sonic Automotive currently has an average rating of "Buy" and an average price target of $70.71.

Hedge Funds Weigh In On Sonic Automotive

A number of large investors have recently bought and sold shares of the stock. Jane Street Group LLC increased its stake in Sonic Automotive by 263.4% in the 1st quarter. Jane Street Group LLC now owns 62,908 shares of the company's stock worth $3,583,000 after purchasing an additional 45,596 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Sonic Automotive by 15.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 38,698 shares of the company's stock worth $2,204,000 after purchasing an additional 5,286 shares during the period. Aristeia Capital L.L.C. purchased a new position in Sonic Automotive in the 1st quarter worth approximately $238,000. Caxton Associates LLP purchased a new position in Sonic Automotive in the 1st quarter worth approximately $639,000. Finally, Goldman Sachs Group Inc. increased its stake in Sonic Automotive by 124.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company's stock worth $20,239,000 after purchasing an additional 197,336 shares during the period. 46.92% of the stock is owned by hedge funds and other institutional investors.

About Sonic Automotive

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.