SG Americas Securities LLC Has $780,000 Stock Holdings in Sonic Automotive, Inc. (NYSE:SAH)

SG Americas Securities LLC raised its position in Sonic Automotive, Inc. (NYSE:SAHGet Rating) by 104.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,341 shares of the company’s stock after buying an additional 9,373 shares during the quarter. SG Americas Securities LLC’s holdings in Sonic Automotive were worth $780,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SAH. Russell Investments Group Ltd. lifted its position in shares of Sonic Automotive by 17.1% during the 4th quarter. Russell Investments Group Ltd. now owns 43,149 shares of the company’s stock valued at $2,132,000 after acquiring an additional 6,295 shares during the period. Strs Ohio lifted its position in shares of Sonic Automotive by 77.3% during the 4th quarter. Strs Ohio now owns 13,300 shares of the company’s stock valued at $657,000 after acquiring an additional 5,800 shares during the period. New York State Teachers Retirement System lifted its position in shares of Sonic Automotive by 4.2% during the 4th quarter. New York State Teachers Retirement System now owns 48,430 shares of the company’s stock valued at $2,395,000 after acquiring an additional 1,949 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Sonic Automotive during the 4th quarter valued at $213,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Sonic Automotive during the 4th quarter valued at $822,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on SAH shares. Seaport Res Ptn downgraded Sonic Automotive from a “buy” rating to a “neutral” rating in a research report on Friday, April 29th. Benchmark cut their target price on Sonic Automotive from $85.00 to $71.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. dropped their price objective on Sonic Automotive from $51.00 to $47.00 in a research report on Friday, July 15th. StockNews.com downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. Finally, Morgan Stanley dropped their price objective on Sonic Automotive from $40.00 to $33.00 and set an “underweight” rating for the company in a research report on Thursday, July 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.33.

Sonic Automotive Price Performance

Shares of SAH stock opened at $43.02 on Tuesday. Sonic Automotive, Inc. has a twelve month low of $34.17 and a twelve month high of $58.00. The business has a fifty day simple moving average of $39.99 and a 200 day simple moving average of $44.65. The company has a quick ratio of 0.44, a current ratio of 1.10 and a debt-to-equity ratio of 1.39. The company has a market cap of $1.70 billion, a P/E ratio of 4.72 and a beta of 2.05.

Sonic Automotive (NYSE:SAHGet Rating) last issued its earnings results on Thursday, July 28th. The company reported $2.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.55 by ($0.10). Sonic Automotive had a return on equity of 36.01% and a net margin of 2.76%. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the company earned $2.63 EPS. Sonic Automotive’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, sell-side analysts forecast that Sonic Automotive, Inc. will post 9.98 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 15th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $1.00 dividend on an annualized basis and a yield of 2.32%. Sonic Automotive’s payout ratio is presently 11.27%.

Insiders Place Their Bets

In other Sonic Automotive news, CFO Heath Byrd sold 93,714 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $41.27, for a total value of $3,867,576.78. Following the completion of the transaction, the chief financial officer now owns 146,600 shares of the company’s stock, valued at approximately $6,050,182. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, President Jeff Dyke sold 28,196 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $42.67, for a total value of $1,203,123.32. Following the completion of the sale, the president now owns 190,168 shares of the company’s stock, valued at $8,114,468.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Heath Byrd sold 93,714 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $41.27, for a total value of $3,867,576.78. Following the completion of the sale, the chief financial officer now directly owns 146,600 shares of the company’s stock, valued at approximately $6,050,182. The disclosure for this sale can be found here. Insiders own 36.07% of the company’s stock.

Sonic Automotive Profile

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

Further Reading

Institutional Ownership by Quarter for Sonic Automotive (NYSE:SAH)

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