Tudor Investment Corp ET AL Raises Stock Holdings in Sonic Automotive, Inc. $SAH

Tudor Investment Corp ET AL increased its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH) by 41.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 183,522 shares of the company’s stock after acquiring an additional 53,510 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.54% of Sonic Automotive worth $13,964,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Sonic Automotive by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,646,450 shares of the company’s stock valued at $125,278,000 after purchasing an additional 96,836 shares during the period. Invesco Ltd. boosted its holdings in shares of Sonic Automotive by 1.4% in the 3rd quarter. Invesco Ltd. now owns 456,508 shares of the company’s stock worth $34,736,000 after buying an additional 6,147 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Sonic Automotive by 20.5% in the 3rd quarter. Millennium Management LLC now owns 383,117 shares of the company’s stock worth $29,151,000 after buying an additional 65,266 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Sonic Automotive by 124.9% during the first quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company’s stock valued at $20,239,000 after buying an additional 197,336 shares during the period. Finally, Bank of America Corp DE grew its position in Sonic Automotive by 1.7% during the third quarter. Bank of America Corp DE now owns 243,206 shares of the company’s stock valued at $18,506,000 after buying an additional 4,080 shares during the period. Hedge funds and other institutional investors own 46.92% of the company’s stock.

Sonic Automotive Trading Up 0.2%

Shares of Sonic Automotive stock opened at $65.02 on Monday. The stock has a market capitalization of $2.18 billion, a P/E ratio of 19.18, a P/E/G ratio of 1.96 and a beta of 0.82. Sonic Automotive, Inc. has a 52-week low of $52.00 and a 52-week high of $89.62. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.32 and a current ratio of 1.09. The stock’s 50-day simple moving average is $62.30 and its 200 day simple moving average is $65.12.

Sonic Automotive (NYSE:SAH) last issued its earnings results on Wednesday, February 18th. The company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Sonic Automotive had a return on equity of 21.54% and a net margin of 0.78%.The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the prior year, the business earned $1.51 EPS. Sonic Automotive’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts anticipate that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, March 13th. Sonic Automotive’s payout ratio is currently 44.84%.

Insiders Place Their Bets

In other Sonic Automotive news, major shareholder Paul P. Rusnak bought 48,540 shares of the stock in a transaction on Friday, February 13th. The shares were acquired at an average price of $59.92 per share, with a total value of $2,908,516.80. Following the acquisition, the insider directly owned 5,088,519 shares of the company’s stock, valued at $304,904,058.48. The trade was a 0.96% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 100,000 shares of company stock valued at $5,994,472. 43.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on SAH shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sonic Automotive in a research report on Friday, March 27th. Wall Street Zen downgraded shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. Zacks Research lowered shares of Sonic Automotive from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Morgan Stanley set a $68.00 price target on shares of Sonic Automotive in a report on Monday, December 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Sonic Automotive in a research note on Tuesday, March 31st. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $77.50.

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.