Westwood Holdings Group Inc. Sells 34,534 Shares of Sonic Automotive, Inc. (NYSE:SAH)

Westwood Holdings Group Inc. trimmed its position in shares of Sonic Automotive, Inc. (NYSE:SAH) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 595,916 shares of the company’s stock after selling 34,534 shares during the period. Westwood Holdings Group Inc.’s holdings in Sonic Automotive were worth $32,460,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SAH. Allspring Global Investments Holdings LLC acquired a new stake in Sonic Automotive during the first quarter worth about $30,000. Innealta Capital LLC acquired a new stake in Sonic Automotive during the second quarter worth about $41,000. AM Squared Ltd acquired a new stake in Sonic Automotive during the second quarter worth about $82,000. TFO Wealth Partners LLC grew its position in Sonic Automotive by 35,366.7% during the fourth quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock worth $120,000 after buying an additional 2,122 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Sonic Automotive during the fourth quarter worth about $185,000. 46.92% of the stock is currently owned by institutional investors.

Sonic Automotive Stock Performance

NYSE:SAH opened at $57.62 on Friday. Sonic Automotive, Inc. has a 1 year low of $41.19 and a 1 year high of $64.68. The firm has a 50 day moving average of $58.48 and a 200-day moving average of $56.16. The company has a current ratio of 1.10, a quick ratio of 0.36 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $1.95 billion, a P/E ratio of 11.81 and a beta of 1.61.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Monday, August 5th. The company reported $1.47 earnings per share 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 during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter in the previous year, the company posted $1.83 EPS. Sonic Automotive’s revenue was down 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Sonic Automotive, Inc. will post 5.79 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Friday, September 13th. Sonic Automotive’s dividend payout ratio (DPR) is presently 24.59%.

Insider Buying and Selling

In related news, CFO Heath Byrd sold 19,827 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $60.00, for a total value of $1,189,620.00. Following the completion of the transaction, the chief financial officer now owns 173,618 shares in the company, valued at approximately $10,417,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 40.95% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Stephens assumed coverage on shares of Sonic Automotive in a research note on Thursday, September 12th. They set an “equal weight” rating and a $64.00 price target for the company. Needham & Company LLC assumed coverage on shares of Sonic Automotive in a research note on Tuesday, August 20th. They set a “buy” rating and a $73.00 price target for the company. Bank of America cut their price target on shares of Sonic Automotive from $68.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.50.

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.