Principal Financial Group Inc. Decreases Stock Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Principal Financial Group Inc. lowered its stake in Sonic Automotive, Inc. (NYSE:SAHFree Report) by 2.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 91,967 shares of the company’s stock after selling 2,447 shares during the quarter. Principal Financial Group Inc.’s holdings in Sonic Automotive were worth $4,392,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd acquired a new stake in Sonic Automotive during the 1st quarter worth $26,000. Envestnet Asset Management Inc. acquired a new stake in Sonic Automotive during the 1st quarter worth $28,000. AM Squared Ltd acquired a new stake in Sonic Automotive during the 2nd quarter worth $100,000. UBS Group AG boosted its stake in Sonic Automotive by 353.4% during the 3rd quarter. UBS Group AG now owns 2,970 shares of the company’s stock worth $129,000 after purchasing an additional 2,315 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Sonic Automotive during the 3rd quarter worth $135,000. Institutional investors and hedge funds own 48.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SAH shares. Benchmark boosted their price target on shares of Sonic Automotive from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. JPMorgan Chase & Co. cut shares of Sonic Automotive from a “neutral” rating to an “underweight” rating and set a $50.00 price target on the stock. in a research report on Tuesday, October 31st. TheStreet raised shares of Sonic Automotive from a “c” rating to a “b” rating in a research report on Monday, November 27th. Finally, StockNews.com cut shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.75.

Read Our Latest Report on Sonic Automotive

Sonic Automotive Stock Up 2.0 %

Shares of SAH opened at $53.37 on Thursday. The firm has a market cap of $1.81 billion, a P/E ratio of -39.24 and a beta of 1.83. Sonic Automotive, Inc. has a 12-month low of $39.02 and a 12-month high of $62.26. The company’s 50-day moving average price is $53.16 and its 200 day moving average price is $50.94. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 2.21.

Sonic Automotive Profile

(Free Report)

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.

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

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