Renaissance Technologies LLC Has $4.65 Million Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Renaissance Technologies LLC reduced its position in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 15.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,400 shares of the company's stock after selling 13,100 shares during the period. Renaissance Technologies LLC owned approximately 0.21% of Sonic Automotive worth $4,650,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Pacific Global Investment Management Co. boosted its stake in shares of Sonic Automotive by 4.1% in the fourth quarter. Pacific Global Investment Management Co. now owns 4,554 shares of the company's stock valued at $288,000 after purchasing an additional 179 shares during the period. New York State Teachers Retirement System lifted its stake in Sonic Automotive by 0.8% during the fourth quarter. New York State Teachers Retirement System now owns 25,935 shares of the company's stock worth $1,643,000 after purchasing an additional 212 shares during the last quarter. American Century Companies Inc. grew its position in shares of Sonic Automotive by 1.9% during the 4th quarter. American Century Companies Inc. now owns 20,596 shares of the company's stock valued at $1,305,000 after buying an additional 390 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Sonic Automotive by 515.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock worth $30,000 after purchasing an additional 402 shares during the period. Finally, Swiss National Bank lifted its stake in Sonic Automotive by 2.0% in the fourth quarter. Swiss National Bank now owns 30,500 shares of the company's stock valued at $1,932,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 46.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Sonic Automotive from a "hold" rating to a "buy" rating in a report on Monday. Stephens lifted their price objective on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. decreased their target price on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Citigroup initiated coverage on shares of Sonic Automotive in a research note on Wednesday. They set a "neutral" rating and a $64.00 price objective on the stock. Finally, Needham & Company LLC cut their price objective on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a report on Thursday. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $69.83.

Sonic Automotive Trading Up 0.2 %

Shares of Sonic Automotive stock traded up $0.12 on Friday, reaching $60.24. 146,786 shares of the company were exchanged, compared to its average volume of 197,509. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75. Sonic Automotive, Inc. has a fifty-two week low of $51.27 and a fifty-two week high of $76.78. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 9.69 and a beta of 1.43. The stock has a fifty day moving average price of $62.24 and a 200-day moving average price of $64.12.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.47 billion. On average, analysts expect that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. Sonic Automotive's dividend payout ratio is 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.