Knightsbridge Asset Management LLC Has $235,000 Position in Sonic Automotive, Inc. (NYSE:SAH)

Knightsbridge Asset Management LLC reduced its stake in Sonic Automotive, Inc. (NYSE:SAHFree Report) by 17.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,922 shares of the company’s stock after selling 1,054 shares during the period. Knightsbridge Asset Management LLC’s holdings in Sonic Automotive were worth $235,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Sonic Automotive by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,312,003 shares of the company’s stock valued at $98,283,000 after purchasing an additional 33,306 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Sonic Automotive by 2.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 920,910 shares of the company’s stock valued at $43,900,000 after acquiring an additional 26,280 shares during the period. State Street Corp boosted its position in shares of Sonic Automotive by 2.1% in the second quarter. State Street Corp now owns 867,884 shares of the company’s stock valued at $32,001,000 after acquiring an additional 17,772 shares during the period. Balyasny Asset Management LLC boosted its position in shares of Sonic Automotive by 411.5% in the third quarter. Balyasny Asset Management LLC now owns 633,755 shares of the company’s stock valued at $27,442,000 after acquiring an additional 509,855 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of Sonic Automotive by 2.3% in the first quarter. Macquarie Group Ltd. now owns 578,674 shares of the company’s stock valued at $31,445,000 after acquiring an additional 13,092 shares during the period. 48.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SAH. Bank of America reduced their target price on shares of Sonic Automotive from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Thursday. StockNews.com cut shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. TheStreet cut shares of Sonic Automotive from a “b” rating to a “c+” rating in a research report on Thursday, February 8th. Finally, Morgan Stanley upped their price objective on shares of Sonic Automotive from $35.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.40.

Get Our Latest Report on SAH

Sonic Automotive Price Performance

Shares of SAH stock traded down $1.16 on Monday, reaching $51.34. The company had a trading volume of 270,359 shares, compared to its average volume of 222,871. The stock has a market capitalization of $1.74 billion, a PE ratio of 10.56 and a beta of 1.82. The company has a quick ratio of 0.41, a current ratio of 1.10 and a debt-to-equity ratio of 2.10. Sonic Automotive, Inc. has a one year low of $39.02 and a one year high of $60.24. The business’s 50-day moving average is $53.32 and its 200 day moving average is $51.38.

Sonic Automotive (NYSE:SAHGet Free Report) last posted its earnings results on Wednesday, February 14th. The company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.17). The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.61 billion. Sonic Automotive had a return on equity of 28.06% and a net margin of 1.24%. The firm’s revenue was down .2% compared to the same quarter last year. During the same period last year, the company posted $2.61 EPS. Equities research analysts forecast that Sonic Automotive, Inc. will post 6.28 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, March 14th. Sonic Automotive’s dividend payout ratio is currently 24.14%.

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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