Sonic Automotive, Inc. (NYSE:SAH) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lowered its position in Sonic Automotive, Inc. (NYSE:SAH) by 48.2% in the fourth quarter, HoldingsChannel reports. The fund owned 6,278 shares of the company’s stock after selling 5,835 shares during the quarter. Quantbot Technologies LP’s holdings in Sonic Automotive were worth $398,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. FMR LLC increased 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 valued at $3,056,000 after purchasing an additional 6,822 shares in the last quarter. Walleye Capital LLC increased its position in shares of Sonic Automotive by 245.6% in the third quarter. Walleye Capital LLC now owns 28,210 shares of the company’s stock valued at $1,650,000 after buying an additional 20,047 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Sonic Automotive by 100.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after buying an additional 599 shares during the period. HITE Hedge Asset Management LLC raised its stake in shares of Sonic Automotive by 49.0% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 28,524 shares of the company’s stock worth $1,668,000 after buying an additional 9,377 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in shares of Sonic Automotive by 4.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 11,400 shares of the company’s stock valued at $667,000 after buying an additional 500 shares in the last quarter. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Trading Down 3.2 %

SAH opened at $54.93 on Friday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. The company’s 50 day simple moving average is $68.13 and its two-hundred day simple moving average is $63.89. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 8.89 and a beta of 1.70. Sonic Automotive, Inc. has a 1-year low of $47.82 and a 1-year high of $76.78.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. Analysts expect that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Friday, March 14th. Sonic Automotive’s dividend payout ratio is currently 22.65%.

Analyst Ratings Changes

A number of equities analysts have weighed in on SAH shares. 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 report on Thursday. StockNews.com downgraded shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Needham & Company LLC decreased 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, Stephens boosted their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. 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 company. According to MarketBeat, the company has an average 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.