Sonic Automotive, Inc. (NYSE:SAH) Position Boosted by Marshall Wace LLP

Marshall Wace LLP boosted its position in Sonic Automotive, Inc. (NYSE:SAH) by 831.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,969 shares of the company’s stock after buying an additional 32,106 shares during the quarter. Marshall Wace LLP owned approximately 0.11% of Sonic Automotive worth $1,959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SAH. Hsbc Holdings PLC raised its stake in Sonic Automotive by 46.5% during the fourth quarter. Hsbc Holdings PLC now owns 18,299 shares of the company’s stock worth $1,032,000 after acquiring an additional 5,805 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Sonic Automotive during the 4th quarter worth approximately $795,000. Westwood Holdings Group Inc. bought a new stake in shares of Sonic Automotive in the 4th quarter worth approximately $31,473,000. Quadrature Capital Ltd acquired a new position in Sonic Automotive during the 4th quarter valued at approximately $1,724,000. Finally, Oracle Alpha Inc. bought a new position in Sonic Automotive during the 4th quarter worth $410,000. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Stock Performance

Shares of NYSE SAH opened at $57.39 on Friday. Sonic Automotive, Inc. has a 1 year low of $41.19 and a 1 year high of $64.68. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.36 and a current ratio of 1.10. The stock has a fifty day moving average price of $58.53 and a two-hundred day moving average price of $56.45. The firm has a market cap of $1.95 billion, a P/E ratio of 11.81 and a beta of 1.60.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.38 by $0.09. Sonic Automotive had a net margin of 1.35% and a return on equity of 25.31%. The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the previous year, the business earned $1.83 earnings per share. Sonic Automotive’s revenue for the quarter was down 5.5% compared to the same quarter last year. Research analysts forecast that Sonic Automotive, Inc. will post 5.79 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a $0.30 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 2.09%. Sonic Automotive’s dividend payout ratio (DPR) is 24.59%.

Insider Buying and Selling at Sonic Automotive

In other news, CFO Heath Byrd sold 19,827 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $60.00, for a total transaction of $1,189,620.00. Following the completion of the sale, the chief financial officer now directly owns 173,618 shares of the company’s stock, valued at $10,417,080. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 40.95% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SAH. Stephens initiated coverage on shares of Sonic Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 price target for the company. JPMorgan Chase & Co. upped their target price on shares of Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Needham & Company LLC started coverage on Sonic Automotive in a report on Tuesday, August 20th. They set a “buy” rating and a $73.00 price target on the stock. Bank of America decreased their price objective on Sonic Automotive from $68.00 to $67.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Morgan Stanley raised Sonic Automotive from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $40.00 to $58.00 in a research note on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Sonic Automotive 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.