Sonic Automotive Inc (NYSE:SAH) Stock Holdings Lowered by Marshall Wace LLP

Marshall Wace LLP lowered its position in Sonic Automotive Inc (NYSE:SAH) by 42.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,894 shares of the company’s stock after selling 71,962 shares during the period. Marshall Wace LLP owned approximately 0.23% of Sonic Automotive worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Sonic Automotive by 4.7% in the fourth quarter. BlackRock Inc. now owns 4,261,659 shares of the company’s stock worth $58,641,000 after buying an additional 189,881 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Sonic Automotive by 15.4% in the fourth quarter. Bank of New York Mellon Corp now owns 481,974 shares of the company’s stock worth $6,632,000 after purchasing an additional 64,186 shares during the last quarter. Norges Bank purchased a new position in Sonic Automotive in the fourth quarter worth $809,000. D. E. Shaw & Co. Inc. grew its holdings in Sonic Automotive by 36.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 146,464 shares of the company’s stock worth $2,015,000 after purchasing an additional 39,174 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in Sonic Automotive in the fourth quarter worth $489,000. 60.83% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Heath Byrd sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $23.60, for a total transaction of $354,000.00. Following the completion of the transaction, the chief financial officer now owns 177,242 shares of the company’s stock, valued at approximately $4,182,911.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 31.60% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Buckingham Research boosted their price objective on shares of Sonic Automotive from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Monday. Stephens raised shares of Sonic Automotive from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $30.00 in a report on Wednesday, June 5th. Zacks Investment Research lowered shares of Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Morgan Stanley upped their price target on shares of Sonic Automotive from $10.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, May 6th. Finally, ValuEngine lowered shares of Ultrapar Participacoes from a “sell” rating to a “strong sell” rating in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $20.50.

Shares of SAH traded up $0.08 during mid-day trading on Thursday, hitting $23.91. 179,936 shares of the company were exchanged, compared to its average volume of 237,083. Sonic Automotive Inc has a 1-year low of $12.78 and a 1-year high of $24.05. The stock has a market cap of $1.02 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 3.71 and a beta of 1.85. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03. The firm’s 50 day simple moving average is $22.27.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.17. Sonic Automotive had a net margin of 0.97% and a return on equity of 10.12%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the company earned $0.26 EPS. Sonic Automotive’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that Sonic Automotive Inc will post 2.12 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.67%. Sonic Automotive’s payout ratio is currently 22.60%.

Sonic Automotive Company Profile

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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.

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Institutional Ownership by Quarter for Sonic Automotive (NYSE:SAH)

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