GAMMA Investing LLC Buys 11,564 Shares of Sonic Automotive, Inc. (NYSE:SAH)

GAMMA Investing LLC lifted its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 6,802.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,734 shares of the company’s stock after acquiring an additional 11,564 shares during the period. GAMMA Investing LLC’s holdings in Sonic Automotive were worth $668,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SAH. Smartleaf Asset Management LLC lifted its stake in shares of Sonic Automotive by 515.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock worth $30,000 after buying an additional 402 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Sonic Automotive during the 4th quarter worth about $51,000. Aster Capital Management DIFC Ltd lifted its stake in shares of Sonic Automotive by 1,429.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock worth $98,000 after buying an additional 1,444 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Sonic Automotive during the 4th quarter worth about $185,000. Finally, Mariner LLC acquired a new stake in shares of Sonic Automotive during the 4th quarter worth about $225,000. Institutional investors own 46.92% of the company’s stock.

Insider Buying and Selling at Sonic Automotive

In other Sonic Automotive news, President Jeff Dyke sold 1,838 shares of the company’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $70.00, for a total transaction of $128,660.00. Following the transaction, the president now owns 637,121 shares in the company, valued at approximately $44,598,470. This represents a 0.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 50,000 shares of company stock valued at $3,502,062. 42.65% of the stock is currently owned by company insiders.

Sonic Automotive Price Performance

SAH stock opened at $77.51 on Thursday. The firm has a 50 day moving average of $66.66 and a 200-day moving average of $66.29. The company has a current ratio of 1.09, a quick ratio of 0.38 and a debt-to-equity ratio of 1.67. Sonic Automotive, Inc. has a 12 month low of $51.27 and a 12 month high of $78.11. The firm has a market capitalization of $2.63 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 0.67 and a beta of 1.02.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.47 billion. Sonic Automotive had a net margin of 1.69% and a return on equity of 19.42%. Sonic Automotive’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 earnings per share. As a group, sell-side analysts predict that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive’s payout ratio is currently 19.94%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Bank of America lifted their price objective on shares of Sonic Automotive from $80.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday. Benchmark assumed coverage on shares of Sonic Automotive in a research note on Wednesday, May 28th. They issued a “buy” rating and a $76.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Citigroup assumed coverage on shares of Sonic Automotive in a research note on Wednesday, April 23rd. They issued a “neutral” rating and a $64.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Sonic Automotive from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 24th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $74.71.

Sonic Automotive 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.