21,161 Shares in Sonic Automotive, Inc. (NYSE:SAH) Acquired by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. bought a new position in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 21,161 shares of the company's stock, valued at approximately $1,341,000. Balyasny Asset Management L.P. owned 0.06% of Sonic Automotive at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Sonic Automotive by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company's stock worth $98,658,000 after buying an additional 20,058 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Sonic Automotive by 52.1% in the 4th quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company's stock valued at $5,129,000 after buying an additional 27,726 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Sonic Automotive by 54.4% during the 4th quarter. New York State Common Retirement Fund now owns 45,000 shares of the company's stock valued at $2,851,000 after purchasing an additional 15,849 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Sonic Automotive during the 4th quarter valued at about $244,000. Finally, Northern Trust Corp boosted its position in shares of Sonic Automotive by 6.7% during the 4th quarter. Northern Trust Corp now owns 291,133 shares of the company's stock valued at $18,443,000 after purchasing an additional 18,232 shares in the last quarter. 46.92% of the stock is currently owned by institutional investors.

Sonic Automotive Price Performance

NYSE SAH traded up $0.49 during trading hours on Friday, reaching $69.28. 98,496 shares of the stock traded hands, compared to its average volume of 192,184. The stock has a 50 day simple moving average of $60.95 and a two-hundred day simple moving average of $65.06. Sonic Automotive, Inc. has a 1 year low of $51.27 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 company has a market cap of $2.35 billion, a price-to-earnings ratio of 11.21 and a beta of 1.04.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.46 by $0.02. The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.47 billion. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. The company's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 earnings per share. On average, analysts predict that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.02%. Sonic Automotive's payout ratio is presently 19.94%.

Analyst Ratings Changes

SAH has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price objective on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Needham & Company LLC reduced their price objective on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Stephens raised their price target on Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. StockNews.com raised Sonic Automotive from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. Finally, Citigroup started coverage on Sonic Automotive in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price target for the company. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Sonic Automotive has a consensus rating of "Moderate Buy" and a consensus target price of $69.83.

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.