ProShare Advisors LLC Invests $282,000 in Sonic Automotive, Inc. (NYSE:SAH)

ProShare Advisors LLC acquired a new stake in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,447 shares of the company's stock, valued at approximately $282,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SAH. Nuveen Asset Management LLC boosted its position in shares of Sonic Automotive by 1.1% in the fourth quarter. Nuveen Asset Management LLC now owns 128,835 shares of the company's stock worth $8,162,000 after acquiring an additional 1,386 shares during the last quarter. Millennium Management LLC raised its position in shares of 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Sonic Automotive by 4.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,370 shares of the company's stock valued at $530,000 after acquiring an additional 380 shares during the period. Gotham Asset Management LLC acquired a new stake in Sonic Automotive during the fourth quarter worth about $288,000. Finally, Deutsche Bank AG raised its holdings in shares of Sonic Automotive by 55.7% in the 4th quarter. Deutsche Bank AG now owns 24,139 shares of the company's stock worth $1,529,000 after purchasing an additional 8,636 shares during the period. 46.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, President Jeff Dyke sold 576 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $70.02, for a total transaction of $40,331.52. Following the transaction, the president now directly owns 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 SEC, which is available through this hyperlink. Over the last three months, insiders sold 50,000 shares of company stock worth $3,502,062. Corporate insiders own 42.65% of the company's stock.

Sonic Automotive Stock Down 0.9%

SAH stock traded down $0.61 during midday trading on Wednesday, hitting $70.40. 41,678 shares of the company's stock were exchanged, compared to its average volume of 193,374. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 11.39 and a beta of 1.04. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75. The firm has a 50 day moving average price of $62.88 and a 200-day moving average price of $65.64. Sonic Automotive, Inc. has a 12-month low of $51.27 and a 12-month high of $76.78.

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

Sonic Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, June 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.99%. Sonic Automotive's payout ratio is 19.94%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SAH shares. Needham & Company LLC cut their price target on shares of Sonic Automotive from $93.00 to $74.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Citigroup began coverage on shares of Sonic Automotive in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 price target for the company. Stephens raised their price objective on Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Benchmark began coverage on Sonic Automotive in a research report on Wednesday, May 28th. They issued a "buy" rating and a $76.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their target price on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $70.71.

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.