Renaissance Technologies LLC Lowers Stake in Sonic Automotive, Inc. (NYSE:SAH)

Renaissance Technologies LLC decreased its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 15.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 73,400 shares of the company’s stock after selling 13,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Sonic Automotive were worth $4,650,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Sonic Automotive by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company’s stock worth $98,658,000 after acquiring an additional 20,058 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in Sonic Automotive by 12.4% in the 4th quarter. First Eagle Investment Management LLC now owns 132,106 shares of the company’s stock valued at $8,369,000 after buying an additional 14,600 shares in the last quarter. Denali Advisors LLC boosted its holdings in Sonic Automotive by 111.2% in the 4th quarter. Denali Advisors LLC now owns 87,100 shares of the company’s stock worth $5,518,000 after buying an additional 45,857 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Sonic Automotive by 52.1% during the fourth quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company’s stock valued at $5,129,000 after acquiring an additional 27,726 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Sonic Automotive by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 71,051 shares of the company’s stock valued at $4,501,000 after acquiring an additional 2,212 shares in the last quarter. 46.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Stephens raised their price objective on Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. cut their price objective on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Needham & Company LLC dropped their target price on Sonic Automotive from $100.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sonic Automotive has a consensus rating of “Buy” and an average target price of $74.80.

Sonic Automotive Stock Down 1.0 %

Shares of SAH opened at $58.13 on Tuesday. Sonic Automotive, Inc. has a 12-month low of $48.61 and a 12-month high of $76.78. The firm has a market cap of $1.96 billion, a P/E ratio of 9.41 and a beta of 1.43. The company’s 50-day moving average price is $63.08 and its 200 day moving average price is $64.16. 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 (NYSE:SAH) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, topping 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, sell-side analysts forecast that Sonic Automotive, Inc. will post 6.14 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Friday, March 14th. Sonic Automotive’s dividend payout ratio (DPR) is 22.65%.

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.