Sonic Automotive, Inc. (NYSE:SAH) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its position in shares of Sonic Automotive, Inc. (NYSE:SAH) by 27.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,056 shares of the company’s stock after selling 777 shares during the period. SG Americas Securities LLC’s holdings in Sonic Automotive were worth $116,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SAH. Raymond James & Associates raised its stake in shares of Sonic Automotive by 4.8% during the 1st quarter. Raymond James & Associates now owns 25,601 shares of the company’s stock worth $1,088,000 after buying an additional 1,180 shares during the last quarter. Citigroup Inc. raised its stake in shares of Sonic Automotive by 12.4% during the 1st quarter. Citigroup Inc. now owns 20,929 shares of the company’s stock worth $890,000 after buying an additional 2,303 shares during the last quarter. MetLife Investment Management LLC raised its stake in Sonic Automotive by 62.1% in the 1st quarter. MetLife Investment Management LLC now owns 11,433 shares of the company’s stock valued at $486,000 after purchasing an additional 4,378 shares during the last quarter. Rhumbline Advisers raised its stake in Sonic Automotive by 0.7% in the 1st quarter. Rhumbline Advisers now owns 74,358 shares of the company’s stock valued at $3,161,000 after purchasing an additional 502 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Sonic Automotive by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,888 shares of the company’s stock valued at $760,000 after purchasing an additional 2,205 shares during the last quarter. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Stock Down 1.2 %

SAH opened at $48.06 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.10 and a quick ratio of 0.41. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 9.67 and a beta of 1.82. The business has a 50-day moving average of $52.89 and a two-hundred day moving average of $51.62. Sonic Automotive, Inc. has a 12 month low of $39.02 and a 12 month high of $60.24.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.17). Sonic Automotive had a net margin of 1.24% and a return on equity of 28.06%. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter last year, the firm earned $2.61 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, research analysts expect that Sonic Automotive, Inc. will post 5.75 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Thursday, March 14th. Sonic Automotive’s payout ratio is currently 24.14%.

Analyst Ratings Changes

Several brokerages recently weighed in on SAH. TheStreet raised shares of Sonic Automotive from a “c+” rating to a “b” rating in a research note on Wednesday, March 6th. Bank of America cut their target price on shares of Sonic Automotive from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Thursday, February 29th. Morgan Stanley boosted their target price on shares of Sonic Automotive from $35.00 to $40.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. Finally, StockNews.com downgraded shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.40.

Sonic Automotive Company Profile

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. 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.