Quantbot Technologies LP Cuts Position in Sonic Automotive, Inc. (NYSE:SAH)

Quantbot Technologies LP reduced its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 48.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its position in shares of Sonic Automotive by 34.4% during the fourth quarter. Teacher Retirement System of Texas now owns 10,334 shares of the company’s stock valued at $655,000 after buying an additional 2,645 shares during the last quarter. First Eagle Investment Management LLC lifted its position in Sonic Automotive by 12.4% during the fourth quarter. First Eagle Investment Management LLC now owns 132,106 shares of the company’s stock valued at $8,369,000 after acquiring an additional 14,600 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in Sonic Automotive in the fourth quarter valued at approximately $252,000. Swiss National Bank grew its holdings in Sonic Automotive by 2.0% in the fourth quarter. Swiss National Bank now owns 30,500 shares of the company’s stock worth $1,932,000 after purchasing an additional 600 shares during the last quarter. Finally, Pacific Global Investment Management Co. increased its position in shares of Sonic Automotive by 4.1% during the fourth quarter. Pacific Global Investment Management Co. now owns 4,554 shares of the company’s stock worth $288,000 after purchasing an additional 179 shares in the last quarter. Institutional investors own 46.92% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on SAH shares. JPMorgan Chase & Co. dropped their target price on Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday. Needham & Company LLC dropped their price target on Sonic Automotive from $100.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. StockNews.com lowered shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Stephens boosted their target price on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.80.

Sonic Automotive Stock Performance

SAH opened at $54.93 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75. Sonic Automotive, Inc. has a 12-month low of $47.82 and a 12-month high of $76.78. The firm has a 50 day moving average of $68.13 and a two-hundred day moving average of $63.89. The firm has a market capitalization of $1.85 billion, a PE ratio of 8.89 and a beta of 1.70.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. On average, analysts anticipate that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, March 14th. Sonic Automotive’s dividend payout ratio (DPR) is 22.65%.

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.