SG Americas Securities LLC Decreases Stock Holdings in Sonic Automotive, Inc. $SAH

SG Americas Securities LLC lowered its position in shares of Sonic Automotive, Inc. (NYSE:SAH) by 75.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,974 shares of the company’s stock after selling 6,172 shares during the period. SG Americas Securities LLC’s holdings in Sonic Automotive were worth $135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in Sonic Automotive by 992.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock worth $35,000 after buying an additional 397 shares during the last quarter. Camelot Portfolios LLC purchased a new position in shares of Sonic Automotive in the 4th quarter valued at about $41,000. Torren Management LLC acquired a new stake in shares of Sonic Automotive during the 4th quarter worth about $50,000. National Bank of Canada FI acquired a new stake in shares of Sonic Automotive during the 3rd quarter worth about $78,000. Finally, CoreCap Advisors LLC lifted its stake in Sonic Automotive by 28.0% during the fourth quarter. CoreCap Advisors LLC now owns 1,829 shares of the company’s stock worth $113,000 after purchasing an additional 400 shares during the last quarter. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SAH. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Sonic Automotive in a report on Tuesday, March 31st. JPMorgan Chase & Co. raised their price objective on shares of Sonic Automotive from $67.00 to $77.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Zacks Research upgraded shares of Sonic Automotive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Citigroup upped their target price on shares of Sonic Automotive from $82.00 to $95.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Bank of America increased their target price on shares of Sonic Automotive from $91.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $86.67.

Sonic Automotive Trading Up 0.2%

NYSE SAH opened at $94.71 on Monday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.29 and a current ratio of 1.03. The firm has a market cap of $2.99 billion, a PE ratio of 30.16, a P/E/G ratio of 1.45 and a beta of 0.89. Sonic Automotive, Inc. has a one year low of $54.11 and a one year high of $99.02. The firm’s fifty day moving average is $81.91 and its two-hundred day moving average is $70.21.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Thursday, April 30th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.22. Sonic Automotive had a net margin of 0.72% and a return on equity of 22.45%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Analysts expect that Sonic Automotive, Inc. will post 6.94 earnings per share for the current year.

Sonic Automotive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from Sonic Automotive’s previous quarterly dividend of $0.38. Sonic Automotive’s payout ratio is 52.23%.

Insiders Place Their Bets

In other Sonic Automotive news, President Jeff Dyke sold 35,114 shares of Sonic Automotive stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $85.22, for a total value of $2,992,415.08. Following the transaction, the president directly owned 543,668 shares in the company, valued at approximately $46,331,386.96. This trade represents a 6.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 100,000 shares of company stock worth $8,408,160. 43.68% of the stock is currently owned by company insiders.

About Sonic Automotive

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.