Gotham Asset Management LLC grew its position in shares of Sonic Co. (NASDAQ:SONC) by 41.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 333,412 shares of the restaurant operator’s stock after buying an additional 97,489 shares during the period. Gotham Asset Management LLC’s holdings in Sonic were worth $9,162,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Glenmede Trust Co. NA lifted its holdings in Sonic by 97.2% during the 4th quarter. Glenmede Trust Co. NA now owns 4,634 shares of the restaurant operator’s stock worth $126,000 after buying an additional 2,284 shares during the last quarter. Jane Street Group LLC bought a new position in Sonic during the 4th quarter worth approximately $830,000. Millennium Management LLC lifted its holdings in Sonic by 240.0% during the 4th quarter. Millennium Management LLC now owns 631,237 shares of the restaurant operator’s stock worth $17,346,000 after buying an additional 445,606 shares during the last quarter. Paloma Partners Management Co lifted its holdings in Sonic by 44.9% during the 4th quarter. Paloma Partners Management Co now owns 17,230 shares of the restaurant operator’s stock worth $474,000 after buying an additional 5,341 shares during the last quarter. Finally, Granite Springs Asset Management LLC bought a new position in Sonic during the 4th quarter worth approximately $442,000.

How to Become a New Pot Stock Millionaire

In related news, Director Federico F. Pena sold 9,686 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $24.61, for a total value of $238,372.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Federico F. Pena sold 4,575 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $25.99, for a total value of $118,904.25. The disclosure for this sale can be found here. Company insiders own 8.28% of the company’s stock.

Shares of Sonic Co. (SONC) opened at $24.95 on Friday. The stock has a market capitalization of $972.99, a P/E ratio of 16.86, a P/E/G ratio of 1.13 and a beta of 1.55. Sonic Co. has a 1-year low of $22.11 and a 1-year high of $30.05. The company has a debt-to-equity ratio of -2.87, a current ratio of 1.81 and a quick ratio of 1.81.

Sonic (NASDAQ:SONC) last announced its quarterly earnings results on Thursday, January 4th. The restaurant operator reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. The business had revenue of $105.40 million for the quarter, compared to the consensus estimate of $106.86 million. Sonic had a negative return on equity of 28.95% and a net margin of 13.68%. The business’s revenue was down 18.7% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. analysts forecast that Sonic Co. will post 1.53 earnings per share for the current year.

SONC has been the topic of a number of research analyst reports. BidaskClub raised Sonic from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Guggenheim reaffirmed a “buy” rating and set a $31.00 target price (up previously from $29.00) on shares of Sonic in a report on Thursday, December 28th. UBS downgraded Sonic from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. Oppenheimer downgraded Sonic from an “outperform” rating to a “market perform” rating and set a $29.00 target price on the stock. in a report on Thursday, January 4th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $31.00 target price (up previously from $27.00) on shares of Sonic in a report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $29.21.

COPYRIGHT VIOLATION WARNING: This article was first reported by Watch List News and is the property of of Watch List News. If you are accessing this article on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark law. The legal version of this article can be viewed at https://www.watchlistnews.com/sonic-co-sonc-shares-bought-by-gotham-asset-management-llc/1959794.html.

Sonic Company Profile

Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board.

Want to see what other hedge funds are holding SONC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonic Co. (NASDAQ:SONC).

Institutional Ownership by Quarter for Sonic (NASDAQ:SONC)

Receive News & Ratings for Sonic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonic and related companies with MarketBeat.com's FREE daily email newsletter.