New York State Common Retirement Fund Cuts Stake in Sonic Automotive, Inc. $SAH

New York State Common Retirement Fund decreased its position in shares of Sonic Automotive, Inc. (NYSE:SAH) by 42.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,000 shares of the company’s stock after selling 15,800 shares during the quarter. New York State Common Retirement Fund owned 0.06% of Sonic Automotive worth $1,598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SAH. Royal Bank of Canada lifted its stake in Sonic Automotive by 37.1% during the 1st quarter. Royal Bank of Canada now owns 13,946 shares of the company’s stock valued at $795,000 after acquiring an additional 3,777 shares during the period. AQR Capital Management LLC raised its holdings in shares of Sonic Automotive by 13.6% during the first quarter. AQR Capital Management LLC now owns 23,310 shares of the company’s stock valued at $1,328,000 after purchasing an additional 2,793 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Sonic Automotive by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,853 shares of the company’s stock valued at $504,000 after purchasing an additional 483 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Sonic Automotive by 124.9% in the first quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company’s stock worth $20,239,000 after purchasing an additional 197,336 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Sonic Automotive by 15.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 38,698 shares of the company’s stock worth $2,204,000 after purchasing an additional 5,286 shares during the period. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Sonic Automotive Trading Down 1.5%

Shares of NYSE:SAH opened at $61.50 on Tuesday. The stock has a 50 day moving average of $63.22 and a 200 day moving average of $69.56. The company has a market cap of $2.10 billion, a PE ratio of 16.62 and a beta of 0.93. 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.

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.