Sonic Automotive (NYSE:SAH) Major Shareholder Paul Rusnak Buys 12,555 Shares of Company Stock

Sonic Automotive, Inc. (NYSE:SAH) major shareholder Paul Rusnak purchased 12,555 shares of Sonic Automotive stock in a transaction dated Wednesday, October 14th. The stock was acquired at an average price of $59.90 per share, with a total value of $752,044.50. Following the acquisition, the insider owned 5,176,776 shares in the company, valued at approximately $310,088,882.40. This represents a 0.24% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Sonic Automotive Stock Up 0.2%

Shares of SAH traded up $0.12 during mid-day trading on Friday, hitting $63.63. The company’s stock had a trading volume of 317,564 shares, compared to its average volume of 379,608. The company has a current ratio of 1.01, a quick ratio of 0.25 and a debt-to-equity ratio of 1.88. The company’s 50-day moving average is $71.22 and its 200-day moving average is $77.98. Sonic Automotive, Inc. has a 52-week low of $54.11 and a 52-week high of $113.67. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.05 and a beta of 0.92.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.07. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.78 billion. Sonic Automotive had a net margin of 1.37% and a return on equity of 20.75%. Sonic Automotive’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $2.19 earnings per share. On average, equities research analysts forecast that Sonic Automotive, Inc. will post 6.75 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, September 15th. Sonic Automotive’s dividend payout ratio (DPR) is 26.16%.

Analysts Set New Price Targets

SAH has been the subject of a number of analyst reports. Stephens set a $89.00 price objective on Sonic Automotive in a research note on Monday, July 13th. Needham & Company LLC raised their price objective on Sonic Automotive from $90.00 to $139.00 and gave the company a “buy” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. cut their target price on Sonic Automotive from $72.00 to $64.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 6th. UBS Group cut their target price on Sonic Automotive from $107.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. Finally, Zacks Research downgraded shares of Sonic Automotive from a “hold” rating to a “strong sell” rating in a report on Monday, October 12th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $90.12.

Institutional Investors Weigh In On Sonic Automotive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAH. Ameritas Advisory Services LLC purchased a new stake in shares of Sonic Automotive during the second quarter worth about $88,000. State of Wyoming purchased a new position in shares of Sonic Automotive in the 1st quarter valued at approximately $79,000. CoreCap Advisors LLC raised its position in shares of Sonic Automotive by 15.5% in the 3rd quarter. CoreCap Advisors LLC now owns 1,550 shares of the company’s stock valued at $94,000 after purchasing an additional 208 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Sonic Automotive in the 2nd quarter worth approximately $208,000. Finally, Fifth Third Bancorp boosted its stake in Sonic Automotive by 2,981.1% in the 1st quarter. Fifth Third Bancorp now owns 4,067 shares of the company’s stock worth $279,000 after purchasing an additional 3,935 shares in the last quarter. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

Sonic Automotive Company Profile

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.