Sonic Automotive, Inc. (SAH) Holdings Lifted by Proxima Capital Management LLC
Proxima Capital Management LLC raised its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 44.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,500 shares of the company’s stock after purchasing an additional 51,500 shares during the quarter. Sonic Automotive comprises 1.8% of Proxima Capital Management LLC’s holdings, making the stock its 20th biggest position. Proxima Capital Management LLC owned approximately 0.38% of Sonic Automotive worth $3,238,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of the business. Elliott Management Corp increased its stake in Sonic Automotive by 17.6% during the 2nd quarter. Elliott Management Corp now owns 892,275 shares of the company’s stock valued at $17,355,000 after purchasing an additional 133,700 shares in the last quarter. State Street Corp increased its stake in shares of Sonic Automotive by 2.0% in the second quarter. State Street Corp now owns 839,717 shares of the company’s stock worth $16,336,000 after acquiring an additional 16,540 shares during the period. Voya Investment Management LLC increased its stake in shares of Sonic Automotive by 14.1% in the second quarter. Voya Investment Management LLC now owns 14,478 shares of the company’s stock worth $282,000 after acquiring an additional 1,790 shares during the period. Suntrust Banks Inc. increased its stake in shares of Sonic Automotive by 8.4% in the second quarter. Suntrust Banks Inc. now owns 121,551 shares of the company’s stock worth $2,363,000 after acquiring an additional 9,400 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Sonic Automotive by 3.0% in the second quarter. Vanguard Group Inc. now owns 2,415,314 shares of the company’s stock worth $46,977,000 after acquiring an additional 71,059 shares during the period. Institutional investors and hedge funds own 63.74% of the company’s stock.
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Sonic Automotive, Inc. (NYSE SAH) traded up 1.24% during mid-day trading on Friday, hitting $20.45. 43,683 shares of the stock were exchanged. The company has a 50 day moving average price of $19.14 and a 200 day moving average price of $18.86. Sonic Automotive, Inc. has a 52-week low of $15.95 and a 52-week high of $27.45. The firm has a market cap of $896.96 million, a price-to-earnings ratio of 13.76 and a beta of 1.51.
Sonic Automotive (NYSE:SAH) last announced its earnings results on Friday, July 28th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.44 billion. Sonic Automotive had a net margin of 0.69% and a return on equity of 11.14%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 earnings per share. On average, analysts anticipate that Sonic Automotive, Inc. will post $1.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be issued a $0.05 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.99%. Sonic Automotive’s payout ratio is 13.42%.
A number of analysts have recently weighed in on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $22.00 price objective on shares of Sonic Automotive in a research note on Wednesday, July 19th. BidaskClub lowered shares of Sonic Automotive from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, KeyCorp reiterated a “hold” rating on shares of Sonic Automotive in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Sonic Automotive presently has an average rating of “Hold” and a consensus 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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