Sonic Automotive (NYSE:SAH) Major Shareholder Paul Rusnak Purchases 13,701 Shares of Stock

Sonic Automotive, Inc. (NYSE:SAH) major shareholder Paul Rusnak bought 13,701 shares of the business’s stock in a transaction that occurred on Wednesday, October 7th. The stock was bought at an average price of $59.78 per share, with a total value of $819,045.78. Following the completion of the transaction, the insider directly owned 5,164,221 shares of the company’s stock, valued at $308,717,131.38. This represents a 0.27% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Sonic Automotive Price Performance

NYSE SAH traded down $1.16 during trading hours on Friday, reaching $60.35. 228,185 shares of the stock traded hands, compared to its average volume of 288,620. The stock has a 50 day simple moving average of $74.25 and a two-hundred day simple moving average of $78.22. Sonic Automotive, Inc. has a 1 year low of $54.11 and a 1 year high of $113.67. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.01 and a quick ratio of 0.25. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.07. The firm had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Sonic Automotive had a return on equity of 20.75% and a net margin of 1.37%.The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.19 EPS. On average, analysts predict that Sonic Automotive, Inc. will post 6.81 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.64 annualized dividend and a yield of 2.7%. Sonic Automotive’s dividend payout ratio is currently 26.16%.

Analyst Ratings Changes

Several research analysts have commented on SAH shares. Citigroup lifted their price target on shares of Sonic Automotive from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Weiss Ratings lowered shares of Sonic Automotive from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 16th. Barclays decreased their target price on shares of Sonic Automotive from $87.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Seaport Research Partners downgraded shares of Sonic Automotive from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $185.00 to $205.00 in a research note on Friday, July 17th. Finally, Bank of America upped their price target on shares of Sonic Automotive from $91.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $90.12.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new stake in Sonic Automotive during the 2nd quarter valued at $88,000. State of Wyoming purchased a new stake in shares of Sonic Automotive during the first quarter worth about $79,000. CoreCap Advisors LLC grew its stake in shares of Sonic Automotive by 15.5% in the third quarter. CoreCap Advisors LLC now owns 1,550 shares of the company’s stock worth $94,000 after purchasing an additional 208 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in Sonic Automotive during the 2nd quarter valued at about $208,000. Finally, Fifth Third Bancorp raised its position in Sonic Automotive by 2,981.1% during the 1st quarter. Fifth Third Bancorp now owns 4,067 shares of the company’s stock valued at $279,000 after purchasing an additional 3,935 shares during the last quarter. Institutional investors own 46.92% of the company’s stock.

About Sonic Automotive

Sonic Automotive, Inc is an automotive retailer headquartered in Charlotte, North Carolina. The company operates franchised dealerships that sell new and used cars and light trucks from a range of manufacturers, along with related automotive products and services.

Its dealership operations provide vehicle financing and insurance products, parts and maintenance services, collision repair, and other after-sales support. Sonic Automotive also operates EchoPark Automotive, a used-vehicle retail business focused on providing a broad selection of pre-owned vehicles and related services.

Founded in 1997 by automotive entrepreneur O.