Sonic Corp (SONC) Files Form 4 Insider Selling : Frank E Iii Richardson Sells 51,100 Shares

Sonic Corp (SONC): Frank E Iii Richardson , director of Sonic Corp sold 51,100 shares on Apr 15, 2016. The Insider selling transaction was reported by the company on Apr 19, 2016 to the Securities and Exchange Commission. The shares were sold at $35.03 per share for a total value of $1,790,848.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Apr 19, 2016, Frank E Iii Richardson (director) sold 51,100 shares at $35.03 per share price.On Apr 15, 2016, Paige S Bass (Senior Vice President) sold 17,800 shares at $35.22 per share price.Also, On Apr 6, 2016, J Clifford Hudson (Chief Executive Officer) sold 93,741 shares at $35.28 per share price.On Apr 5, 2016, Carolyn C. Cummins (Vice President) sold 2,000 shares at $35.71 per share price.

Shares of Sonic Corporation (SONC) ended Monday, Apr 18, 2016 session in red amid volatile trading. The shares closed down -0.12 points or -0.34% at $35 with 4,42,070 shares getting traded. Post opening the session at $34.92, the shares hit an intraday low of $34.72 and an intraday high of $35.21 and the price vacillated in this range throughout the day. The company has a market cap of $1,699 M and the number of outstanding shares has been calculated to be 4,85,52,214 shares. The 52-week high of Sonic Corporation is $36.34 and the 52-week low is $22.72.

Sonic Corporation Money Flow Index Chart

Company has been under the radar of several Street Analysts.Sonic Corporation is Reiterated by Piper Jaffray to Overweight and the brokerage firm has raised the Price Target to $ 42 from a previous price target of $37 .The Rating was issued on Apr 6, 2016.Sonic Corporation is Reiterated by UBS to Neutral and the brokerage firm has raised the Price Target to $ 33 from a previous price target of $28 .The Rating was issued on Mar 30, 2016.Sonic Corporation is Reiterated by Deutsche Bank to Hold and the brokerage firm has raised the Price Target to $ 35 from a previous price target of $32 .The Rating was issued on Mar 30, 2016.

Currently the company Insiders own 7.03% of Sonic Corporation shares according to the proxy statements.Institutional Investors own 99.83% of Sonic Corporation shares.During last six month period, the net percent change held by insiders has seen a change of -1.99%.

Sonic Corp. operates and franchises a chain of drive-in restaurants in the United States. The Company has around 3512 Sonic Drive-Ins in 44 states of the United States. The Company’s product categories include Burgers Coneys and Hot Dogs Chicken Breakfast Snacks and Sides Drinks Ice Cream and Wacky Pack. The Company’s products include SONIC Cheeseburger SuperSONIC Double Cheeseburger Chili Cheese Coney Chicago Dog Garlic Parmesan Boneless Wings Buffalo Boneless Wings BREAKFAST TOASTER SuperSONIC Breakfast Burrito Natural-Cut Fries Onion Rings Minute Maid Cranberry Juice Slush DR PEPPER SONIC Energy Zero Calorie OREO & Cake Shake Banana Split Master Blast and Waffle Cone Sundae with Chocolate & Reeses Cups among others. The Company offers Wacky Pack for kids. The Company also offers SONIC Wacky application which is available on Google Play and iTunes App Store.

Leave a Reply

Sonic Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on Sonic Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.