Sonic Automotive director Paul Rusnak buys $1.29m in shares

Sonic Automotive director Paul Rusnak has made a significant investment in the company, purchasing 21,645 shares at $59.50 per share on October 1, 2026, according to a recent SEC filing. This transaction valued at $1,287,877 brings Rusnak's total beneficial ownership to 5,121,645 shares. Despite the stock's decline of 12% over the past year and a P/E ratio of 9.67, the company's management has been actively buying back shares.

Sonic Automotive recently reported stronger-than-expected second-quarter results for 2026, with adjusted earnings of $1.82 per share and revenue of $3.9 billion, surpassing analysts' expectations. However, the stock price declined following the positive earnings report, reflecting investor concerns over margins and affordability.

Needham has raised its price target for Sonic Automotive to $139, maintaining a Buy rating, which reflects increased confidence in the company's franchise dealership business.

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