Susquehanna Fundamental Investments LLC Acquires New Shares in Sonic Automotive, Inc. (NYSE:SAH)

Susquehanna Fundamental Investments LLC bought a new stake in Sonic Automotive, Inc. (NYSE:SAH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,838 shares of the company’s stock, valued at approximately $645,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SAH. Allspring Global Investments Holdings LLC purchased a new stake in Sonic Automotive in the first quarter valued at approximately $30,000. Innealta Capital LLC purchased a new stake in Sonic Automotive in the second quarter valued at approximately $41,000. AM Squared Ltd purchased a new stake in Sonic Automotive in the second quarter valued at approximately $82,000. TFO Wealth Partners LLC raised its position in Sonic Automotive by 35,366.7% in the fourth quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock valued at $120,000 after purchasing an additional 2,122 shares during the period. Finally, Point72 DIFC Ltd raised its position in Sonic Automotive by 6.9% in the second quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock valued at $158,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 46.92% of the company’s stock.

Insider Buying and Selling at Sonic Automotive

In other Sonic Automotive news, CFO Heath Byrd sold 19,827 shares of the company’s stock in a transaction 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 $10,417,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 40.95% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Morgan Stanley raised Sonic Automotive from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $40.00 to $58.00 in a research report on Wednesday, September 25th. Needham & Company LLC assumed coverage on Sonic Automotive in a research report on Tuesday, August 20th. They set a “buy” rating and a $73.00 price objective on the stock. Bank of America cut their price objective on Sonic Automotive from $68.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their price objective on Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Finally, Stephens assumed coverage on Sonic Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 price objective on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Sonic Automotive Stock Performance

Shares of SAH stock opened at $56.46 on Thursday. 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 firm has a fifty day moving average price of $58.57 and a 200 day moving average price of $56.46. The company has a market cap of $1.93 billion, a P/E ratio of 11.57 and a beta of 1.61. Sonic Automotive, Inc. has a 12 month low of $41.19 and a 12 month high of $64.68.

Sonic Automotive (NYSE:SAH) last issued its earnings results on Monday, August 5th. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.56 billion. During the same quarter in the previous year, the firm posted $1.83 earnings per share. The company’s revenue was down 5.5% compared to the same quarter last year. Sell-side analysts predict that Sonic Automotive, Inc. will post 5.79 earnings per share 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. Shareholders of record on Friday, September 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 2.13%. Sonic Automotive’s dividend payout ratio is presently 24.59%.

About Sonic Automotive

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.