Sonic Automotive, Inc. (NYSE:SAH) Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP grew its position in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 667.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,113 shares of the company's stock after acquiring an additional 10,535 shares during the quarter. Quantbot Technologies LP's holdings in Sonic Automotive were worth $708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in SAH. Innealta Capital LLC bought a new stake in Sonic Automotive during the 2nd quarter valued at $41,000. AM Squared Ltd bought a new position in shares of Sonic Automotive during the 2nd quarter valued at $82,000. Point72 DIFC Ltd grew its position in Sonic Automotive by 6.9% during the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company's stock worth $158,000 after acquiring an additional 187 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Sonic Automotive in the second quarter worth $228,000. Finally, Arizona State Retirement System boosted its holdings in shares of Sonic Automotive by 10.8% during the second quarter. Arizona State Retirement System now owns 4,324 shares of the company's stock worth $236,000 after purchasing an additional 420 shares during the period. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Trading Down 0.2 %

Shares of SAH traded down $0.16 during midday trading on Tuesday, reaching $69.16. The company had a trading volume of 42,179 shares, compared to its average volume of 194,330. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. The firm has a 50 day simple moving average of $60.23 and a 200-day simple moving average of $58.29. Sonic Automotive, Inc. has a 1-year low of $47.82 and a 1-year high of $70.88. The stock has a market cap of $2.36 billion, a PE ratio of 12.22 and a beta of 1.65.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.17). The firm had revenue of $3.49 billion during the quarter, compared to analysts' expectations of $3.55 billion. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.02 EPS. Research analysts forecast that Sonic Automotive, Inc. will post 5.6 EPS for the current fiscal year.

Sonic Automotive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Sonic Automotive's previous quarterly dividend of $0.30. Sonic Automotive's dividend payout ratio (DPR) is currently 21.35%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Seaport Res Ptn raised Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 21st. Bank of America reduced their target price on shares of Sonic Automotive from $67.00 to $66.00 and set a "buy" rating for the company in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on shares of Sonic Automotive from $63.00 to $75.00 and gave the company an "overweight" rating in a research note on Tuesday, September 10th. Morgan Stanley upgraded Sonic Automotive from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $40.00 to $58.00 in a report on Wednesday, September 25th. Finally, Needham & Company LLC increased their price objective on shares of Sonic Automotive from $73.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Sonic Automotive has an average rating of "Moderate Buy" and a consensus target price of $67.40.

Sonic Automotive 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.