Algert Global LLC Buys New Shares in 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 acquired a new position in Sonic Automotive, Inc. (NYSE:SAH - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 20,026 shares of the company's stock, valued at approximately $1,141,000. Algert Global LLC owned approximately 0.06% of Sonic Automotive at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. lifted its holdings in Sonic Automotive by 26.2% in the 1st quarter. Westwood Holdings Group Inc. now owns 641,237 shares of the company's stock worth $36,525,000 after buying an additional 133,044 shares in the last quarter. Millennium Management LLC lifted its holdings in Sonic Automotive by 3.9% in the 4th quarter. Millennium Management LLC now owns 476,107 shares of the company's stock worth $30,161,000 after buying an additional 17,965 shares in the last quarter. Northern Trust Corp lifted its holdings in Sonic Automotive by 6.7% in the 4th quarter. Northern Trust Corp now owns 291,133 shares of the company's stock worth $18,443,000 after buying an additional 18,232 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Sonic Automotive by 1.1% in the 4th quarter. Nuveen Asset Management LLC now owns 128,835 shares of the company's stock worth $8,162,000 after buying an additional 1,386 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Sonic Automotive in the 1st quarter worth $7,317,000. Institutional investors and hedge funds own 46.92% of the company's stock.

Insider Buying and Selling

In other Sonic Automotive news, President Jeff Dyke sold 31,152 shares of the company's stock in a transaction dated 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 50,000 shares of company stock valued at $3,502,062. 42.65% of the stock is currently owned by corporate insiders.

Sonic Automotive Stock Performance

Shares of NYSE:SAH traded up $0.4010 during trading on Monday, reaching $82.6110. 185,928 shares of the company's stock traded hands, compared to its average volume of 240,479. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.03 and a quick ratio of 0.24. Sonic Automotive, Inc. has a 12 month low of $52.00 and a 12 month high of $89.62. The company has a 50 day moving average of $79.57 and a 200-day moving average of $70.34. The stock has a market capitalization of $2.82 billion, a P/E ratio of 18.36 and a beta of 0.99.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted its earnings results 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 firm had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.66 billion. During the same quarter in the prior year, the firm earned $1.47 EPS. Sonic Automotive's quarterly revenue was up 5.9% on a year-over-year basis. On average, equities analysts expect that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Increases Dividend

The company 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 $0.38 dividend. This is a positive change from Sonic Automotive's previous quarterly dividend of $0.35. The ex-dividend date is Monday, September 15th. This represents a $1.52 annualized dividend and a yield of 1.8%. Sonic Automotive's payout ratio is currently 31.11%.

Analyst Upgrades and Downgrades

SAH has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $95.00 price objective on shares of Sonic Automotive in a report on Wednesday, August 6th. Bank of America boosted their target price on shares of Sonic Automotive from $80.00 to $94.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Stephens downgraded shares of Sonic Automotive from an "overweight" rating to an "equal weight" rating and boosted their target price for the stock from $72.00 to $82.00 in a research report on Thursday, July 17th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $72.00 target price (up previously from $65.00) on shares of Sonic Automotive in a research report on Thursday, July 17th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $79.86.

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.