Versor Investments LP Buys Shares of 5,190 Sonic Automotive, Inc. $SAH

by · The Cerbat Gem

Versor Investments LP bought a new stake in shares of Sonic Automotive, Inc. (NYSE:SAH – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund bought 5,190 shares of the company’s stock, valued at approximately $415,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SAH. Teacher Retirement System of Texas boosted its position in Sonic Automotive by 38.2% during the 1st quarter. Teacher Retirement System of Texas now owns 14,286 shares of the company’s stock valued at $814,000 after acquiring an additional 3,952 shares in the last quarter. Principal Financial Group Inc. boosted its position in Sonic Automotive by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 72,902 shares of the company’s stock valued at $4,152,000 after acquiring an additional 1,851 shares in the last quarter. Victory Capital Management Inc. boosted its position in Sonic Automotive by 50.5% during the 1st quarter. Victory Capital Management Inc. now owns 124,342 shares of the company’s stock valued at $7,083,000 after acquiring an additional 41,722 shares in the last quarter. Denali Advisors LLC boosted its position in Sonic Automotive by 2.0% during the 1st quarter. Denali Advisors LLC now owns 88,885 shares of the company’s stock valued at $5,063,000 after acquiring an additional 1,785 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Sonic Automotive during the 1st quarter valued at $1,940,000. Institutional investors own 46.92% of the company’s stock.

Wall Street Analysts Forecast Growth

SAH has been the topic of several recent research reports. Stephens cut Sonic Automotive from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $72.00 to $82.00 in a research report on Thursday, July 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sonic Automotive in a research report on Friday, October 31st. JPMorgan Chase & Co. lowered their price objective on Sonic Automotive from $76.00 to $70.00 and set an “underweight” rating for the company in a research report on Wednesday. Morgan Stanley raised their price objective on Sonic Automotive from $60.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 14th. Finally, Citigroup raised their price objective on Sonic Automotive from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $82.14.

Check Out Our Latest Research Report on Sonic Automotive

Sonic Automotive Stock Performance

Shares of SAH stock opened at $61.17 on Thursday. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 16.53 and a beta of 0.91. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.02 and a quick ratio of 0.27. The business has a fifty day moving average of $74.96 and a 200 day moving average of $74.54. Sonic Automotive, Inc. has a 1 year low of $52.00 and a 1 year high of $89.62.

Sonic Automotive (NYSE:SAH – Get Free Report) last issued its earnings results on Thursday, October 23rd. The company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.41). The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Sonic Automotive had a return on equity of 21.65% and a net margin of 0.86%.The business’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business earned $1.26 EPS. As a group, research analysts expect 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 will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be paid a $0.38 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.52 dividend on an annualized basis and a yield of 2.5%. Sonic Automotive’s dividend payout ratio (DPR) is 41.08%.

Sonic Automotive Profile

(Free Report)

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.

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