Sonic Automotive, Inc. $SAH Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH decreased its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 20.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,753 shares of the company’s stock after selling 12,949 shares during the period. Allianz Asset Management GmbH owned about 0.15% of Sonic Automotive worth $3,862,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its position in Sonic Automotive by 992.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock valued at $35,000 after purchasing an additional 397 shares in the last quarter. CoreCap Advisors LLC acquired a new position in Sonic Automotive during the 3rd quarter worth approximately $109,000. Raymond James Financial Inc. purchased a new stake in shares of Sonic Automotive in the 2nd quarter valued at approximately $168,000. Entropy Technologies LP acquired a new stake in shares of Sonic Automotive in the 2nd quarter valued at $208,000. Finally, Creative Planning acquired a new stake in shares of Sonic Automotive in the 2nd quarter valued at $213,000. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Sonic Automotive from $70.00 to $67.00 and set an “underweight” rating on the stock in a report on Friday, January 16th. Barclays lowered their price objective on shares of Sonic Automotive from $71.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 21st. Wall Street Zen cut shares of Sonic Automotive from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Morgan Stanley set a $68.00 price target on Sonic Automotive in a report on Monday, December 8th. Finally, Zacks Research upgraded Sonic Automotive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 13th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sonic Automotive has a consensus rating of “Hold” and an average price target of $79.63.

Sonic Automotive Trading Down 2.3%

Shares of Sonic Automotive stock opened at $60.11 on Wednesday. The company has a 50-day moving average of $63.17 and a two-hundred day moving average of $69.43. Sonic Automotive, Inc. has a 12-month low of $52.00 and a 12-month high of $89.62. The company has a current ratio of 1.02, a quick ratio of 0.27 and a debt-to-equity ratio of 1.68. The stock has a market cap of $2.05 billion, a PE ratio of 16.25 and a beta of 0.93.

Sonic Automotive Company Profile

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.