Quantbot Technologies LP Purchases New Holdings in Sonic Automotive, Inc. $SAH

Quantbot Technologies LP acquired a new position in shares of Sonic Automotive, Inc. (NYSE:SAH) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 11,729 shares of the company’s stock, valued at approximately $892,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Sonic Automotive by 992.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock valued at $35,000 after purchasing an additional 397 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Sonic Automotive by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,853 shares of the company’s stock worth $504,000 after purchasing an additional 483 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Sonic Automotive by 7.1% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 7,678 shares of the company’s stock worth $584,000 after buying an additional 507 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Sonic Automotive by 4.3% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,413 shares of the company’s stock worth $1,173,000 after buying an additional 642 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Sonic Automotive by 1.7% during the 3rd quarter. Rhumbline Advisers now owns 46,995 shares of the company’s stock valued at $3,576,000 after buying an additional 772 shares in the last quarter. Hedge funds and other institutional investors own 46.92% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SAH. Morgan Stanley set a $68.00 price objective on Sonic Automotive in a research note on Monday, December 8th. Wall Street Zen downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a report on Sunday, January 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Sonic Automotive in a research report on Thursday, February 19th. Stephens dropped their price target on shares of Sonic Automotive from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 19th. Finally, Bank of America initiated coverage on shares of Sonic Automotive in a research report on Wednesday. They set a “neutral” rating on the stock. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.50.

Sonic Automotive Stock Down 1.6%

Sonic Automotive stock opened at $61.42 on Friday. Sonic Automotive, Inc. has a 12 month low of $52.00 and a 12 month high of $89.62. The stock has a fifty day simple moving average of $62.25 and a two-hundred day simple moving average of $67.89. The company has a current ratio of 1.09, a quick ratio of 0.32 and a debt-to-equity ratio of 1.80. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.85 and a beta of 0.91.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Sonic Automotive had a net margin of 0.78% and a return on equity of 21.54%. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the previous year, the company earned $1.51 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts predict that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be paid a $0.38 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.5%. Sonic Automotive’s payout ratio is currently 44.84%.

Insider Activity at Sonic Automotive

In related news, major shareholder Paul P. Rusnak acquired 11,481 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was purchased at an average cost of $59.95 per share, with a total value of $688,285.95. Following the completion of the acquisition, the insider directly owned 5,100,000 shares of the company’s stock, valued at approximately $305,745,000. This trade represents a 0.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have purchased 100,000 shares of company stock valued at $5,994,472 in the last three months. Insiders own 42.65% of the company’s stock.

Sonic Automotive Profile

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.