Russell Investments Group Ltd. decreased its position in Sonic Automotive, Inc. (NYSE:SAH – Free Report) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,951 shares of the company’s stock after selling 759 shares during the period. Russell Investments Group Ltd. owned 0.08% of Sonic Automotive worth $1,535,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Westwood Holdings Group Inc. purchased a new position in Sonic Automotive in the fourth quarter worth approximately $31,473,000. Assenagon Asset Management S.A. purchased a new position in shares of Sonic Automotive during the 4th quarter worth $1,770,000. Quadrature Capital Ltd acquired a new stake in shares of Sonic Automotive during the 4th quarter worth about $1,724,000. BNP Paribas Financial Markets raised its holdings in Sonic Automotive by 125.4% in the 4th quarter. BNP Paribas Financial Markets now owns 43,175 shares of the company’s stock valued at $2,427,000 after buying an additional 24,021 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Sonic Automotive in the fourth quarter valued at about $795,000. Institutional investors and hedge funds own 46.92% of the company’s stock.
Sonic Automotive Stock Up 2.2 %
Shares of SAH opened at $58.30 on Friday. Sonic Automotive, Inc. has a 1 year low of $41.19 and a 1 year high of $64.68. The company’s 50-day simple moving average is $55.98 and its 200-day simple moving average is $54.40. The stock has a market capitalization of $1.98 billion, a PE ratio of 11.95 and a beta of 1.62. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.35 and a current ratio of 1.09.
Sonic Automotive (NYSE:SAH – Get Free Report) last released its earnings results on Thursday, April 25th. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.06. Sonic Automotive had a return on equity of 27.46% and a net margin of 1.21%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the business posted $1.33 earnings per share. Sonic Automotive’s revenue was down 2.6% compared to the same quarter last year. Analysts forecast that Sonic Automotive, Inc. will post 5.71 earnings per share for the current fiscal year.
Insider Buying and Selling at Sonic Automotive
In other news, President Jeff Dyke sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $56.76, for a total transaction of $851,400.00. Following the completion of the transaction, the president now directly owns 161,622 shares of the company’s stock, valued at $9,173,664.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, President Jeff Dyke sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $56.76, for a total value of $851,400.00. Following the sale, the president now directly owns 161,622 shares in the company, valued at approximately $9,173,664.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Heath Byrd sold 19,827 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $60.00, for a total transaction of $1,189,620.00. Following the transaction, the chief financial officer now owns 173,618 shares of the company’s stock, valued at approximately $10,417,080. The disclosure for this sale can be found here. Insiders have sold 167,396 shares of company stock valued at $9,863,864 in the last quarter. Corporate insiders own 40.95% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on SAH shares. JPMorgan Chase & Co. upgraded shares of Sonic Automotive from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $53.00 to $58.00 in a research report on Monday, June 10th. Bank of America dropped their target price on shares of Sonic Automotive from $68.00 to $67.00 and set a “buy” rating for the company in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $56.75.
Read Our Latest Stock Analysis on SAH
About Sonic Automotive
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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