SG Americas Securities LLC Has $1.25 Million Position in Sonic Automotive, Inc. (SAH)
SG Americas Securities LLC boosted its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 69.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,305 shares of the company’s stock after buying an additional 26,379 shares during the period. SG Americas Securities LLC owned about 0.20% of Sonic Automotive worth $1,251,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in shares of Sonic Automotive by 20.4% in the first quarter. Victory Capital Management Inc. now owns 4,976 shares of the company’s stock valued at $100,000 after buying an additional 844 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Sonic Automotive by 78.3% in the second quarter. State of Alaska Department of Revenue now owns 5,153 shares of the company’s stock valued at $100,000 after buying an additional 2,263 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of Sonic Automotive by 7.1% in the first quarter. Mason Street Advisors LLC now owns 6,146 shares of the company’s stock valued at $123,000 after buying an additional 405 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Sonic Automotive by 4.8% in the first quarter. Public Employees Retirement System of Ohio now owns 8,891 shares of the company’s stock valued at $178,000 after buying an additional 410 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of Sonic Automotive during the first quarter valued at $211,000. 63.82% of the stock is currently owned by institutional investors and hedge funds.
Sonic Automotive, Inc. (NYSE SAH) opened at 18.10 on Friday. The firm’s 50-day moving average is $17.74 and its 200 day moving average is $19.33. The stock has a market cap of $793.88 million, a P/E ratio of 12.18 and a beta of 1.51. Sonic Automotive, Inc. has a one year low of $15.95 and a one year high of $27.45.
Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Friday, July 28th. The company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.06. Sonic Automotive had a return on equity of 11.14% and a net margin of 0.69%. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the company posted $0.50 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts anticipate that Sonic Automotive, Inc. will post $1.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 annualized dividend and a yield of 1.10%. Sonic Automotive’s dividend payout ratio is presently 13.42%.
Several equities analysts have weighed in on the stock. BidaskClub downgraded shares of Sonic Automotive from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Morgan Stanley lowered their price target on shares of Sonic Automotive from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, June 9th. Jefferies Group LLC reaffirmed a “hold” rating and set a $22.00 price target on shares of Sonic Automotive in a report on Friday, June 16th. TheStreet downgraded shares of Sonic Automotive from a “b” rating to a “c+” rating in a report on Tuesday, May 30th. Finally, ValuEngine downgraded shares of Sonic Automotive from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $21.75.
Sonic Automotive Company Profile
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
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