Insider Buying: O Bruton Smith Purchases 10,000 Shares of Sonic Automotive Stock (SAH)
Sonic Automotive (NYSE:SAH) CEO O Bruton Smith purchased 10,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average price of $24.20 per share, for a total transaction of $242,000.00. Following the purchase, the chief executive officer now directly owns 300,741 shares in the company, valued at approximately $7,277,932. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Sonic Automotive (NYSE:SAH) traded up 3.13% during mid-day trading on Friday, hitting $24.39. The stock had a trading volume of 223,107 shares. Sonic Automotive has a 52-week low of $21.05 and a 52-week high of $27.87. The stock’s 50-day moving average is $25.77 and its 200-day moving average is $24.36. The company has a market cap of $1.284 billion and a P/E ratio of 12.84.
Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.51 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.53 by $0.02. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the company posted $0.50 earnings per share. Sonic Automotive’s revenue was up 6.8% compared to the same quarter last year. Analysts expect that Sonic Automotive will post $1.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Thursday, September 11th.
SAH has been the subject of a number of recent research reports. Analysts at Bank of America downgraded shares of Sonic Automotive from a “buy” rating to an “underperform” rating in a research note on Tuesday, July 22nd. They now have a $27.00 price target on the stock, down previously from $39.00. Analysts at Goldman Sachs downgraded shares of Sonic Automotive from a “neutral” rating to a “sell” rating in a research note on Friday, June 20th. They now have a $22.00 price target on the stock, down previously from $23.00.
Sonic Automotive, Inc (NYSE:SAH) is engaged in automotive retailing in the United States.
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