SAH - David B. Smith Executes Sell Order: Offloads $988K In Sonic Automotive Stock | Benzinga
On May 15, a recent SEC filing unveiled that David B. Smith, Chairman and CEO at Sonic Automotive (NYSE:SAH) made an insider sell.
What Happened: According to a Form 4 filing with the U.S. Securities and Exchange Commission on Wednesday, Smith sold 16,646 shares of Sonic Automotive. The total transaction value is $988,104.
During Thursday's morning session, Sonic Automotive shares down by 0.0%, currently priced at $59.59.
Get to Know Sonic Automotive Better
Sonic Automotive is one of the largest auto dealership groups in the United States. The company has 108 franchised stores in 18 states, primarily in metropolitan areas in California, Texas, and the Southeast, plus 25 EchoPark used-vehicle stores, 16 collision centers, and 13 powersports locations. The franchise stores derive revenue from new and used vehicles plus parts and collision repair, finance, insurance, and wholesale auctions. Luxury and import dealerships make up about 86% of franchise new-vehicle revenue, while Honda, BMW, Mercedes, and Toyota constitute about 58% of new-vehicle revenue. BMW is the largest brand at about 25%. 2023's revenue was $14.4 billion, with EchoPark's portion totaling $2.4 billion. Sonic bought RFJ Auto in December 2021, which added $3.2 billion in sales.
Financial Milestones: Sonic Automotive's Journey
Revenue Challenges: Sonic Automotive's revenue growth over 3 months faced difficulties. ...