Algert Global LLC Buys Shares of 20,026 Sonic Automotive, Inc. $SAH

Key Points

• Algert Global LLC acquired 20,026 shares of Sonic Automotive, valued at approximately $1,141,000, increasing its ownership to 0.06% of the company.
• Sonic Automotive's stock saw a 4.8% increase recently, with a market capitalization of $2.80 billion and a PE ratio of 18.22.
• The company announced a quarterly dividend of $0.38 per share, marking an increase from the previous $0.35, with a yield of 1.9%.

Algert Global LLC bought a new stake in Sonic Automotive, Inc. (NYSE:SAH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,026 shares of the company's stock, valued at approximately $1,141,000. Algert Global LLC owned 0.06% of Sonic Automotive as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SAH. Canada Pension Plan Investment Board acquired a new position in shares of Sonic Automotive during the fourth quarter valued at about $51,000. Cetera Investment Advisers bought a new position in Sonic Automotive during the 1st quarter valued at $218,000. Mariner LLC purchased a new position in Sonic Automotive during the fourth quarter worth about $225,000. XTX Topco Ltd purchased a new position in shares of Sonic Automotive in the 4th quarter worth approximately $242,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Sonic Automotive in the 4th quarter valued at $261,000. 46.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SAH has been the subject of a number of research reports. JPMorgan Chase & Co. reissued an "underweight" rating and set a $72.00 target price (up from $65.00) on shares of Sonic Automotive in a research report on Thursday, July 17th. Zacks Research cut Sonic Automotive from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 22nd. Bank of America increased their price objective on Sonic Automotive from $80.00 to $94.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Wall Street Zen lowered shares of Sonic Automotive from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, Morgan Stanley lifted their price target on Sonic Automotive from $60.00 to $72.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Sonic Automotive presently has a consensus rating of "Hold" and a consensus price target of $79.86.

Insider Transactions at Sonic Automotive

In other news, President Jeff Dyke sold 31,152 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $70.05, for a total value of $2,182,197.60. Following the transaction, the president owned 605,969 shares in the company, valued at approximately $42,448,128.45. This represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 42.65% of the company's stock.

Sonic Automotive Stock Down 1.2%

SAH traded down $1.05 during trading on Thursday, reaching $83.53. The stock had a trading volume of 23,065 shares, compared to its average volume of 226,368. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 1.78. The stock's 50 day moving average is $79.84 and its two-hundred day moving average is $70.53. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 18.56 and a beta of 0.99. 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 data on Thursday, July 24th. The company reported $2.19 EPS for the quarter, topping the consensus estimate of $1.63 by $0.56. Sonic Automotive had a net margin of 1.07% and a return on equity of 21.40%. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the firm posted $1.47 earnings per share. Sonic Automotive's quarterly revenue was up 5.9% on a year-over-year basis. As a group, analysts expect that Sonic Automotive, Inc. will post 6.14 earnings per share for the current year.

Sonic Automotive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a $0.38 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.8%. This is a boost from Sonic Automotive's previous quarterly dividend of $0.35. Sonic Automotive's payout ratio is presently 31.11%.

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.