Sonic Automotive, Inc. (NYSE:SAH) Shares Bought by Denali Advisors LLC

Denali Advisors LLC raised its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH) by 111.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,100 shares of the company’s stock after purchasing an additional 45,857 shares during the period. Denali Advisors LLC’s holdings in Sonic Automotive were worth $5,518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SAH. Point72 Asia Singapore Pte. Ltd. grew its stake in Sonic Automotive by 100.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after buying an additional 599 shares during the last quarter. R Squared Ltd acquired a new stake in Sonic Automotive in the fourth quarter worth about $72,000. SG Americas Securities LLC purchased a new stake in shares of Sonic Automotive during the fourth quarter worth about $244,000. MQS Management LLC acquired a new position in shares of Sonic Automotive during the third quarter valued at about $394,000. Finally, Franklin Resources Inc. raised its position in shares of Sonic Automotive by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 9,643 shares of the company’s stock valued at $530,000 after purchasing an additional 609 shares during the last quarter. Hedge funds and other institutional investors own 46.92% of the company’s stock.

Sonic Automotive Trading Up 1.2 %

Shares of Sonic Automotive stock opened at $69.55 on Wednesday. Sonic Automotive, Inc. has a 1 year low of $47.82 and a 1 year high of $76.78. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. The stock has a market cap of $2.38 billion, a PE ratio of 11.25 and a beta of 1.68. The firm has a fifty day moving average price of $68.66 and a 200 day moving average price of $63.46.

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

Sonic Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, March 14th. Sonic Automotive’s payout ratio is presently 22.65%.

Wall Street Analyst Weigh In

SAH has been the topic of several research analyst reports. Needham & Company LLC boosted their target price on shares of Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Stephens lifted their price objective on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on Sonic Automotive from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Finally, StockNews.com raised Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $79.20.

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.