Insider Selling: Sonic Automotive, Inc. (NYSE:SAH) President Sells 16,434 Shares of Stock

Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) President Jeff Dyke sold 16,434 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $70.03, for a total transaction of $1,150,873.02. Following the completion of the transaction, the president now directly owns 638,959 shares in the company, valued at $44,746,298.77. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, May 30th, Jeff Dyke sold 31,152 shares of Sonic Automotive stock. The stock was sold at an average price of $70.05, for a total transaction of $2,182,197.60.
• On Thursday, May 29th, Jeff Dyke sold 1,838 shares of Sonic Automotive stock. The stock was sold at an average price of $70.00, for a total transaction of $128,660.00.

Sonic Automotive Trading Up 1.1%

Shares of NYSE:SAH traded up $0.78 during mid-day trading on Friday, reaching $69.95. 191,345 shares of the company were exchanged, compared to its average volume of 193,678. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 11.32 and a beta of 1.04. The firm's 50-day simple moving average is $62.43 and its 200 day simple moving average is $65.55. Sonic Automotive, Inc. has a 1 year low of $51.27 and a 1 year high of $76.78.

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

Sonic Automotive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive's payout ratio is 19.94%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Needham & Company LLC decreased their target price on shares of Sonic Automotive from $93.00 to $74.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Citigroup assumed coverage on shares of Sonic Automotive in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price objective for the company. Stephens upped their price objective on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price target on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, Wall Street Zen raised shares of Sonic Automotive from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Two 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's stock. According to data from MarketBeat, Sonic Automotive has an average rating of "Buy" and an average price target of $70.71.

Institutional Trading of Sonic Automotive

A number of institutional investors and hedge funds have recently bought and sold shares of SAH. Goldman Sachs Group Inc. increased its stake in Sonic Automotive by 124.9% during the first 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. Westwood Holdings Group Inc. increased its stake in Sonic Automotive by 26.2% during the first quarter. Westwood Holdings Group Inc. now owns 641,237 shares of the company's stock worth $36,525,000 after purchasing an additional 133,044 shares during the period. Nuveen LLC purchased a new stake in Sonic Automotive during the first quarter worth about $7,317,000. HITE Hedge Asset Management LLC increased its position in shares of Sonic Automotive by 111.4% during the first quarter. HITE Hedge Asset Management LLC now owns 123,724 shares of the company's stock worth $7,047,000 after acquiring an additional 65,198 shares during the period. Finally, Phocas Financial Corp. increased its position in shares of Sonic Automotive by 86.6% during the fourth quarter. Phocas Financial Corp. now owns 116,343 shares of the company's stock worth $7,370,000 after acquiring an additional 54,008 shares during the period. 46.92% of the stock is currently 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.