Denali Advisors LLC Boosts Stake in Sonic Automotive, Inc. (NYSE:SAH)

Denali Advisors LLC boosted its stake in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 111.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 87,100 shares of the company's stock after buying an additional 45,857 shares during the quarter. Denali Advisors LLC owned approximately 0.25% of Sonic Automotive worth $5,518,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SAH. Point72 Asia Singapore Pte. Ltd. raised its holdings in Sonic Automotive by 100.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company's stock valued at $70,000 after acquiring an additional 599 shares during the last quarter. R Squared Ltd acquired a new position in Sonic Automotive in the 4th quarter valued at $72,000. SG Americas Securities LLC acquired a new position in Sonic Automotive in the 4th quarter valued at $244,000. MQS Management LLC acquired a new position in Sonic Automotive in the 3rd quarter valued at $394,000. Finally, Franklin Resources Inc. raised its holdings in Sonic Automotive by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 9,643 shares of the company's stock valued at $530,000 after acquiring an additional 609 shares during the last quarter. Hedge funds and other institutional investors own 46.92% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SAH shares. Needham & Company LLC boosted their price target on Sonic Automotive from $74.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, February 13th. StockNews.com upgraded Sonic Automotive from a "hold" rating to a "buy" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price objective on Sonic Automotive from $74.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Stephens upped their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Seaport Res Ptn upgraded Sonic Automotive from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Sonic Automotive currently has an average rating of "Buy" and an average target price of $79.20.

Remove Ads

Sonic Automotive Trading Down 0.4 %

Shares of SAH stock traded down $0.30 on Friday, reaching $68.08. 187,874 shares of the stock were exchanged, compared to its average volume of 191,053. Sonic Automotive, Inc. has a 1-year low of $47.82 and a 1-year high of $76.78. The stock has a market cap of $2.33 billion, a P/E ratio of 11.02 and a beta of 1.68. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75. The firm has a 50 day moving average of $68.98 and a two-hundred day moving average of $63.61.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. On average, research analysts anticipate that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.40 annualized dividend and a yield of 2.06%. Sonic Automotive's dividend payout ratio is currently 22.65%.

Sonic Automotive Company Profile

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.