SAH - David Bruton Smith Takes Money Off The Table Sells $3.96M In Sonic Automotive Stock | Benzinga
A substantial insider sell was reported on May 9, by David Bruton Smith, Chairman and CEO at Sonic Automotive (NYSE:SAH), based on the recent SEC filing.
What Happened: After conducting a thorough analysis, Smith sold 67,724 shares of Sonic Automotive. This information was disclosed in a Form 4 filing with the U.S. Securities and Exchange Commission on Thursday. The total transaction value is $3,957,426.
In the Friday's morning session, Sonic Automotive's shares are currently trading at $58.5, experiencing a down of 0.0%.
About Sonic Automotive
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.