Insider Selling: Jeff Dyke Sells 20,000 Shares of Sonic Automotive Stock (SAH)
Sonic Automotive (NYSE:SAH) EVP Jeff Dyke unloaded 20,000 shares of the stock on the open market in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $27.00, for a total value of $540,000.00. Following the transaction, the executive vice president now directly owns 163,451 shares of the company’s stock, valued at approximately $4,413,177. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Separately, analysts at Barclays raised their price target on shares of Sonic Automotive from $16.00 to $19.00 in a research note on Tuesday, April 15th.
Shares of Sonic Automotive (NYSE:SAH) traded up 0.37% during mid-day trading on Wednesday, hitting $27.00. 548,552 shares of the company’s stock traded hands. Sonic Automotive has a one year low of $19.77 and a one year high of $27.27. The stock has a 50-day moving average of $24.81 and a 200-day moving average of $23.62. The company has a market cap of $1.419 billion and a P/E ratio of 17.97.
Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.41 by $0.03. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts predict that Sonic Automotive will post $2.00 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Wednesday, June 11th.
Sonic Automotive, Inc (NYSE:SAH) is engaged in automotive retailing in the United States.
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