Monday, December 11, 2017 10:15 PM ET
Insider Selling at Sonic (SONC) Continues with Significant Sale
A SEC filing today revealed a significant insider sale of Sonic shares as — Frank E Richardson III, Director — disposed of 50,000 shares in the company having a market value of approximately $1,381,237. There have been 2 insiders with buy/sell transactions in the past 90 days prior to this filing. All of these trades have been sales resulting in the disposition of 51,161 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 101,161 shares and have averaged 33,720 shares per transaction over this time period.
The level of buy/sell trading at Sonic is is greater than the 20 peer company average over the last 90-day period. The Quick Service Restaurants peer group saw 27 buy/sell trades during this period for an average of 1.4 transactions per company. The number of shares per buy/sell trade for Sonic insiders was also higher. Within the peer group there were 343,387 shares purchased and 145,347 shares sold with company insiders acquiring 7,617 shares on average.
The data used in creating and writing in this story eliminates all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers.
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