Sonic Corp. (NASDAQ:SONC) Director Federico F. Pena sold 1,161 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $25.20, for a total transaction of $29,257.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Sonic Corp. (SONC) remained flat at $25.31 during trading on Tuesday. The stock had a trading volume of 766,123 shares. Sonic Corp. has a one year low of $21.12 and a one year high of $30.05. The company has a 50-day moving average price of $24.45 and a 200 day moving average price of $25.86. The firm has a market cap of $1.05 billion, a PE ratio of 17.46 and a beta of 1.76.

Sonic Corp. (NASDAQ:SONC) last released its quarterly earnings data on Monday, October 16th. The restaurant operator reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. Sonic Corp. had a net margin of 13.34% and a negative return on equity of 33.92%. The business had revenue of $123.60 million for the quarter, compared to analyst estimates of $126.01 million. During the same period in the previous year, the firm earned $0.45 EPS. The business’s revenue for the quarter was down 23.8% compared to the same quarter last year. Analysts expect that Sonic Corp. will post $1.35 earnings per share for the current year.

Sonic Corp. announced that its board has approved a stock repurchase program on Wednesday, August 9th that allows the company to repurchase $160.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to repurchase up to 16.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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Institutional investors have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC boosted its position in shares of Sonic Corp. by 77.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,797 shares of the restaurant operator’s stock worth $127,000 after buying an additional 2,097 shares in the last quarter. Flinton Capital Management LLC boosted its position in shares of Sonic Corp. by 74.5% in the 2nd quarter. Flinton Capital Management LLC now owns 6,290 shares of the restaurant operator’s stock worth $167,000 after buying an additional 2,686 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Sonic Corp. in the 1st quarter worth about $209,000. State of Alaska Department of Revenue boosted its position in shares of Sonic Corp. by 72.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,378 shares of the restaurant operator’s stock worth $221,000 after buying an additional 3,528 shares in the last quarter. Finally, Aperio Group LLC boosted its position in shares of Sonic Corp. by 1.4% in the 2nd quarter. Aperio Group LLC now owns 8,348 shares of the restaurant operator’s stock worth $221,000 after buying an additional 119 shares in the last quarter.

Several equities analysts have issued reports on SONC shares. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $29.00 price objective on shares of Sonic Corp. in a report on Friday, October 6th. BidaskClub downgraded shares of Sonic Corp. from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Zacks Investment Research downgraded shares of Sonic Corp. from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Bank of America Corporation reaffirmed a “buy” rating and set a $30.00 price objective on shares of Sonic Corp. in a report on Monday, August 14th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $26.00 price objective on shares of Sonic Corp. in a report on Thursday, July 27th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $27.68.

About Sonic Corp.

Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board.

Insider Buying and Selling by Quarter for Sonic Corp. (NASDAQ:SONC)

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