Walleye Capital LLC Buys 20,047 Shares of Sonic Automotive, Inc. (NYSE:SAH)

Walleye Capital LLC increased its position in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 245.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,210 shares of the company's stock after acquiring an additional 20,047 shares during the period. Walleye Capital LLC owned about 0.08% of Sonic Automotive worth $1,650,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SAH. Harbor Capital Advisors Inc. grew its holdings in Sonic Automotive by 124.7% during the third quarter. Harbor Capital Advisors Inc. now owns 55,383 shares of the company's stock valued at $3,239,000 after purchasing an additional 30,731 shares during the period. Victory Capital Management Inc. grew its stake in shares of Sonic Automotive by 524.4% during the 2nd quarter. Victory Capital Management Inc. now owns 100,602 shares of the company's stock valued at $5,480,000 after acquiring an additional 84,489 shares during the period. Intech Investment Management LLC increased its holdings in Sonic Automotive by 418.9% in the 3rd quarter. Intech Investment Management LLC now owns 21,692 shares of the company's stock worth $1,269,000 after acquiring an additional 17,512 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Sonic Automotive during the 3rd quarter worth approximately $532,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Sonic Automotive during the 3rd quarter valued at $1,244,000. Hedge funds and other institutional investors own 46.92% of the company's stock.

Sonic Automotive Trading Down 0.7 %

Shares of NYSE SAH traded down $0.48 during trading hours on Thursday, hitting $67.80. 22,893 shares of the company traded hands, compared to its average volume of 193,832. The company's 50 day moving average price is $60.69 and its 200 day moving average price is $58.43. Sonic Automotive, Inc. has a 12 month low of $47.82 and a 12 month high of $70.88. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 12.15 and a beta of 1.65. The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.87.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.26 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.17). Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the firm earned $2.02 EPS. The company's revenue was down 4.2% on a year-over-year basis. On average, equities research analysts anticipate that Sonic Automotive, Inc. will post 5.6 earnings per share for the current fiscal year.

Sonic Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Sonic Automotive's previous quarterly dividend of $0.30. Sonic Automotive's payout ratio is 21.35%.

Analyst Upgrades and Downgrades

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

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.