Eisler Capital Management Ltd. Takes Position in Sonic Automotive, Inc. $SAH

Key Points

• Eisler Capital Management Ltd. acquired 3,845 shares of Sonic Automotive, valued at approximately $219,000, indicating increased institutional interest in the company.
• Sonic Automotive reported a quarterly EPS of $2.19, significantly exceeding analysts' estimates, and experienced a 5.9% revenue growth year-over-year.
• The company's quarterly dividend has been increased from $0.35 to $0.38 per share, reflecting a commitment to returning value to shareholders.

Eisler Capital Management Ltd. acquired a new position in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,845 shares of the company's stock, valued at approximately $219,000.

A number of other hedge funds have also added to or reduced their stakes in SAH. Barclays PLC grew its position in shares of Sonic Automotive by 50.8% in the 4th quarter. Barclays PLC now owns 36,807 shares of the company's stock valued at $2,332,000 after acquiring an additional 12,394 shares during the period. Mariner LLC acquired a new position in Sonic Automotive during the 4th quarter worth approximately $225,000. MetLife Investment Management LLC increased its position in Sonic Automotive by 8.7% during the 4th quarter. MetLife Investment Management LLC now owns 9,104 shares of the company's stock worth $577,000 after purchasing an additional 731 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Sonic Automotive by 7.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,349 shares of the company's stock worth $910,000 after acquiring an additional 973 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Sonic Automotive in the 4th quarter valued at $261,000. Institutional investors own 46.92% of the company's stock.

Sonic Automotive Stock Performance

SAH traded down $2.54 during trading on Friday, hitting $81.79. 137,930 shares of the company traded hands, compared to its average volume of 201,400. The firm has a market cap of $2.79 billion, a P/E ratio of 18.18 and a beta of 0.98. The stock's fifty day moving average is $80.05 and its 200 day moving average is $70.63. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of 1.78. Sonic Automotive, Inc. has a one year low of $52.00 and a one year high of $89.62.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.56. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.66 billion. Sonic Automotive had a net margin of 1.07% and a return on equity of 21.40%. The firm's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.47 earnings per share. As a group, equities analysts predict that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $0.38 per share. This is a boost from Sonic Automotive's previous quarterly dividend of $0.35. This represents a $1.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, September 15th. Sonic Automotive's dividend payout ratio (DPR) is 31.11%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Benchmark boosted their target price on shares of Sonic Automotive from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Wall Street Zen downgraded shares of Sonic Automotive from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 21st. Zacks Research downgraded shares of Sonic Automotive from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $72.00 target price (up previously from $65.00) on shares of Sonic Automotive in a research report on Thursday, July 17th. Finally, Bank of America upped their price objective on shares of Sonic Automotive from $80.00 to $94.00 and gave the stock a "buy" rating in a report on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $79.86.

Insiders Place Their Bets

In other Sonic Automotive news, President Jeff Dyke sold 576 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $70.02, for a total transaction of $40,331.52. Following the completion of the transaction, the president owned 605,393 shares in the company, valued at $42,389,617.86. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 42.65% of the stock is owned by corporate insiders.

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.