SG Americas Securities LLC Has $780,000 Stock Position in Sonic Automotive, Inc. (NYSE:SAH)

SG Americas Securities LLC boosted its position in Sonic Automotive, Inc. (NYSE:SAHGet Rating) by 104.5% during the 1st quarter, Holdings Channel reports. The fund owned 18,341 shares of the company’s stock after buying an additional 9,373 shares during the period. SG Americas Securities LLC’s holdings in Sonic Automotive were worth $780,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Inspire Investing LLC bought a new position in Sonic Automotive in the first quarter worth approximately $234,000. Denali Advisors LLC bought a new position in Sonic Automotive in the first quarter worth approximately $455,000. NorthCrest Asset Manangement LLC boosted its holdings in Sonic Automotive by 1.4% in the first quarter. NorthCrest Asset Manangement LLC now owns 18,000 shares of the company’s stock worth $765,000 after acquiring an additional 250 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in Sonic Automotive by 46.4% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,649,404 shares of the company’s stock worth $81,563,000 after acquiring an additional 522,895 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Sonic Automotive by 118.1% in the fourth quarter. Barclays PLC now owns 109,979 shares of the company’s stock worth $5,438,000 after acquiring an additional 59,560 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Sonic Automotive Stock Performance

Shares of Sonic Automotive stock opened at $43.02 on Tuesday. The business’s fifty day simple moving average is $39.99 and its 200 day simple moving average is $44.65. The firm has a market capitalization of $1.70 billion, a P/E ratio of 4.72 and a beta of 2.05. Sonic Automotive, Inc. has a 12 month low of $34.17 and a 12 month high of $58.00. The company has a current ratio of 1.10, a quick ratio of 0.44 and a debt-to-equity ratio of 1.39.

Sonic Automotive (NYSE:SAHGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The company reported $2.45 EPS for the quarter, missing analysts’ consensus estimates of $2.55 by ($0.10). The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.90 billion. Sonic Automotive had a return on equity of 36.01% and a net margin of 2.76%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.63 earnings per share. As a group, analysts anticipate that Sonic Automotive, Inc. will post 9.98 EPS for the current year.

Sonic Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 14th. This represents a $1.00 dividend on an annualized basis and a yield of 2.32%. Sonic Automotive’s dividend payout ratio (DPR) is currently 11.27%.

Insider Buying and Selling

In related news, CFO Heath Byrd sold 93,714 shares of Sonic Automotive stock in a transaction on Monday, August 1st. The stock was sold at an average price of $41.27, for a total transaction of $3,867,576.78. Following the sale, the chief financial officer now directly owns 146,600 shares in the company, valued at $6,050,182. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sonic Automotive news, President Jeff Dyke sold 28,196 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $42.67, for a total value of $1,203,123.32. Following the completion of the sale, the president now directly owns 190,168 shares of the company’s stock, valued at $8,114,468.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Heath Byrd sold 93,714 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $41.27, for a total value of $3,867,576.78. Following the completion of the sale, the chief financial officer now directly owns 146,600 shares of the company’s stock, valued at $6,050,182. The disclosure for this sale can be found here. 36.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SAH shares. Benchmark cut their price target on Sonic Automotive from $85.00 to $71.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. dropped their target price on Sonic Automotive from $51.00 to $47.00 in a report on Friday, July 15th. Morgan Stanley dropped their target price on Sonic Automotive from $40.00 to $33.00 and set an “underweight” rating on the stock in a report on Thursday, July 14th. Seaport Res Ptn lowered Sonic Automotive from a “buy” rating to a “neutral” rating in a report on Friday, April 29th. Finally, StockNews.com lowered Sonic Automotive from a “buy” rating to a “hold” rating in a report on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $50.33.

About Sonic Automotive

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Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products for its guests.

Further Reading

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Institutional Ownership by Quarter for Sonic Automotive (NYSE:SAH)

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