Sonic Automotive, Inc. (NYSE:SAH) Shares Bought by GSA Capital Partners LLP

by · The Cerbat Gem

GSA Capital Partners LLP grew its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH – Free Report) by 163.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,235 shares of the company’s stock after purchasing an additional 20,010 shares during the period. GSA Capital Partners LLP’s holdings in Sonic Automotive were worth $1,885,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SAH. Allspring Global Investments Holdings LLC acquired a new position in Sonic Automotive during the 1st quarter worth approximately $30,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Sonic Automotive by 85.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 8,298 shares of the company’s stock worth $451,000 after acquiring an additional 3,820 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Sonic Automotive by 12.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 630,450 shares of the company’s stock worth $35,898,000 after acquiring an additional 70,540 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Sonic Automotive by 3.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,806 shares of the company’s stock worth $730,000 after acquiring an additional 458 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Sonic Automotive by 270.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 24,652 shares of the company’s stock worth $1,343,000 after acquiring an additional 17,989 shares in the last quarter. Institutional investors and hedge funds own 46.92% of the company’s stock.

Analyst Upgrades and Downgrades

SAH has been the topic of several research analyst reports. Bank of America decreased their price target on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Needham & Company LLC boosted their price target on Sonic Automotive from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Morgan Stanley raised Sonic Automotive from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $40.00 to $58.00 in a research note on Wednesday, September 25th. Finally, Stephens initiated coverage on Sonic Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $64.00 target price on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.40.

View Our Latest Report on Sonic Automotive

Sonic Automotive Price Performance

SAH stock opened at $64.89 on Wednesday. Sonic Automotive, Inc. has a 1 year low of $47.82 and a 1 year high of $66.56. The firm has a market cap of $2.22 billion, a P/E ratio of 11.55 and a beta of 1.61. The stock’s 50 day moving average price is $57.50 and its 200 day moving average price is $57.49. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.35 and a current ratio of 1.11.

Sonic Automotive (NYSE:SAH – Get Free Report) last issued its quarterly earnings results 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 return on equity of 21.27% and a net margin of 1.41%. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the prior year, the company earned $2.02 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, sell-side analysts expect that Sonic Automotive, Inc. will post 5.74 earnings per share for the current fiscal year.

Sonic Automotive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 dividend yield of 2.16%. 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 dividend payout ratio is currently 21.35%.

Sonic Automotive Profile

(Free Report)

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.

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