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Sonic Corporation (SONC) Message Board

  • revs4u revs4u Apr 17, 2003 8:39 AM Flag

    Nervous

    I have been contemplating an investment in Sonic, but the President has sold about 45,000 shares in the last 2 weeks. This makes me nervous. Any comments?

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    • MAY 23, 2003 -- GREENWOOD VILLAGE, CO -- Red Robin Gourmet Burgers has hired away Sonic executive Dwayne Chambers to be its vice president of marketing.

      Chambers served in the same capacity for Sonic. It was unclear when he left the drive-in chain.

      "Dwayne comes from a great organization with great values," Red Robin CEO Mike Snyder told analysts yesterday.

      Sonic is one of fast-food's biggest advertising spenders in terms of percentage of sales, with most of its $100 million budget going to television.

      Snyder predicted last year that Red Robin will use TV more, but indicated yesterday that the company won't alter its current marketing budget of 3.2% to 3.3% of gross sales.

    • Nobody has sold 2-3 mil shares. In aggregate there have been a hundred thousand shares sold by insider sales with the biggest being Patty Moore.

      Sounds like you know something? Senior marketing position would have to be announced if there was a change right?

    • could it be a senior marketing person? I think that another executive sold two to three million shares in the past few weeks.I sure hope the stock price continues to be strong. Does anyone have anything to add?

    • Check out the insider sales now. SVP of Ops selling 131k shares after exercising 70k options. More hit every day including top mgmt. and directors.

    • Your a bit late with SONC, you might try WEN. CKR was a good one too, I might try SONC and CKR again after a pullback though.

    • The execise of 45,000 "purchase" options means she actually bought 45,000 shares (at a very good price). Options to buy expire in 10 years, so they must be exercised periodically. It is not unusual for some or all of the shares to then be sold to finance the purchase. So far she has sold about 21,000, which means that she increased her share holdings by 24,000, net.

 
SONC
22.16-0.20(-0.89%)Oct 1 4:00 PMEDT

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