Friday, December 15, 2017 10:15 PM ET
Insider Sale at Sonic (SONC) Continues Selling Trend
One insider — Frank E Richardson III, Director — today, disposed of 50,000 shares of Sonic having a market value of approximately $1,420,245, as disclosed in a form 4 document filed with the SEC. 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 101,161 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 151,161 shares and have averaged 50,387 shares per transaction over this time period.
During the last 90 days, the number of insider buy/sell trades at Sonic is greater than the 20-company peer group average. Quick Service Restaurants peer group saw 30 buy/sell trades during this period for an average of 1.5 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 209,607 shares sold with company insiders purchasing 4,778 shares on average.
Insider buying and selling activity that is significant has been determined by eliminating 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 in creating and writing this story.
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