Cubist Systematic Strategies LLC Has $4.59 Million Stake in Sonic Automotive, Inc. (NYSE:SAH)

Cubist Systematic Strategies LLC decreased its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 41.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,216 shares of the company’s stock after selling 60,691 shares during the quarter. Cubist Systematic Strategies LLC owned 0.25% of Sonic Automotive worth $4,587,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Sonic Automotive in the 1st quarter worth about $30,000. Innealta Capital LLC acquired a new stake in Sonic Automotive in the 2nd quarter worth about $41,000. AM Squared Ltd acquired a new stake in Sonic Automotive in the 2nd quarter worth about $82,000. TFO Wealth Partners LLC raised its stake in Sonic Automotive by 35,366.7% in the 4th quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock worth $120,000 after purchasing an additional 2,122 shares in the last quarter. Finally, Point72 DIFC Ltd raised its stake in Sonic Automotive by 6.9% in the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock worth $158,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 46.92% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on SAH shares. Bank of America decreased their target price on shares of Sonic Automotive from $68.00 to $67.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Morgan Stanley raised shares of Sonic Automotive from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $40.00 to $58.00 in a report on Wednesday. Needham & Company LLC started coverage on shares of Sonic Automotive in a report on Tuesday, August 20th. They issued a “buy” rating and a $73.00 target price on the stock. Stephens started coverage on shares of Sonic Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $64.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

Insiders Place Their Bets

In other Sonic Automotive news, CFO Heath Byrd sold 19,827 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $60.00, for a total transaction of $1,189,620.00. Following the sale, the chief financial officer now directly owns 173,618 shares of the company’s stock, valued at approximately $10,417,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 40.95% of the company’s stock.

Sonic Automotive Trading Up 1.7 %

Shares of Sonic Automotive stock opened at $59.06 on Friday. The firm has a market capitalization of $2.02 billion, a PE ratio of 12.10 and a beta of 1.61. The company has a current ratio of 1.10, a quick ratio of 0.36 and a debt-to-equity ratio of 2.04. The firm’s 50 day moving average is $58.48 and its 200 day moving average is $56.32. Sonic Automotive, Inc. has a 1 year low of $41.19 and a 1 year high of $64.68.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Monday, August 5th. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.09. Sonic Automotive had a net margin of 1.35% and a return on equity of 25.31%. The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the firm posted $1.83 EPS. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. Equities research analysts forecast that Sonic Automotive, Inc. will post 5.79 earnings per share for the current fiscal year.

Sonic Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, September 13th. Sonic Automotive’s payout ratio is 24.59%.

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.