Trexquant Investment LP Lowers Stake in Sonic Automotive, Inc. (NYSE:SAH)

Trexquant Investment LP cut its stake in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 39.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,795 shares of the company's stock after selling 8,212 shares during the quarter. Trexquant Investment LP's holdings in Sonic Automotive were worth $811,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SAH. FMR LLC lifted its stake in shares of Sonic Automotive by 15.0% in the 3rd quarter. FMR LLC now owns 52,259 shares of the company's stock worth $3,056,000 after acquiring an additional 6,822 shares during the period. Barclays PLC raised its holdings in Sonic Automotive by 346.1% during the third quarter. Barclays PLC now owns 24,413 shares of the company's stock worth $1,427,000 after purchasing an additional 18,940 shares in the last quarter. Franklin Resources Inc. lifted its position in Sonic Automotive by 6.7% in the third quarter. Franklin Resources Inc. now owns 9,643 shares of the company's stock valued at $530,000 after purchasing an additional 609 shares during the period. JPMorgan Chase & Co. boosted its holdings in Sonic Automotive by 68.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company's stock valued at $3,113,000 after purchasing an additional 21,650 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Sonic Automotive by 1.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 56,361 shares of the company's stock worth $3,570,000 after purchasing an additional 978 shares during the period. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

Sonic Automotive Price Performance

Shares of SAH stock traded up $0.31 during mid-day trading on Thursday, reaching $58.51. The stock had a trading volume of 36,342 shares, compared to its average volume of 196,207. The company has a market cap of $1.97 billion, a P/E ratio of 9.49 and a beta of 1.43. 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 12-month low of $47.82 and a 12-month high of $76.78. The business has a 50-day simple moving average of $63.95 and a 200 day simple moving average of $64.03.

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 net margin of 1.52% and a return on equity of 19.96%. On average, sell-side analysts anticipate that Sonic Automotive, Inc. will post 6.14 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Friday, March 14th. Sonic Automotive's payout ratio is 22.65%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SAH. Stephens lifted their price target on Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. StockNews.com downgraded Sonic Automotive from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Needham & Company LLC lowered their price target on shares of Sonic Automotive from $100.00 to $93.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.80.

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.