SG Americas Securities LLC Acquires 10,246 Shares of Sonic Automotive, Inc. (NYSE:SAH)

SG Americas Securities LLC increased its position in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 266.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,096 shares of the company's stock after purchasing an additional 10,246 shares during the quarter. SG Americas Securities LLC's holdings in Sonic Automotive were worth $803,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Phocas Financial Corp. grew its holdings in Sonic Automotive by 86.6% during the fourth quarter. Phocas Financial Corp. now owns 116,343 shares of the company's stock worth $7,370,000 after acquiring an additional 54,008 shares during the period. Denali Advisors LLC grew its stake in shares of Sonic Automotive by 111.2% in the 4th quarter. Denali Advisors LLC now owns 87,100 shares of the company's stock valued at $5,518,000 after buying an additional 45,857 shares in the last quarter. Voloridge Investment Management LLC grew its stake in shares of Sonic Automotive by 110.9% in the 4th quarter. Voloridge Investment Management LLC now owns 69,766 shares of the company's stock valued at $4,420,000 after buying an additional 36,691 shares in the last quarter. HITE Hedge Asset Management LLC lifted its holdings in Sonic Automotive by 105.2% in the 4th quarter. HITE Hedge Asset Management LLC now owns 58,526 shares of the company's stock worth $3,708,000 after purchasing an additional 30,002 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Sonic Automotive by 52.1% in the 4th quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company's stock worth $5,129,000 after purchasing an additional 27,726 shares during the last quarter. 46.92% of the stock is currently owned by institutional investors.

Insider Activity

In other Sonic Automotive news, President Jeff Dyke sold 16,434 shares of Sonic Automotive stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $70.03, for a total transaction of $1,150,873.02. Following the completion of the sale, the president now owns 638,959 shares of the company's stock, valued at $44,746,298.77. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 50,000 shares of company stock worth $3,502,062. 42.65% of the stock is owned by corporate insiders.

Sonic Automotive Trading Up 2.9%

Shares of NYSE:SAH traded up $2.24 during midday trading on Monday, reaching $80.44. The company's stock had a trading volume of 178,053 shares, compared to its average volume of 194,782. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 0.69 and a beta of 1.02. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.38 and a current ratio of 1.09. The firm has a 50 day moving average price of $67.82 and a two-hundred day moving average price of $66.48. Sonic Automotive, Inc. has a fifty-two week low of $51.27 and a fifty-two week high of $80.60.

Sonic Automotive (NYSE:SAH - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $3.47 billion. Sonic Automotive had a return on equity of 19.42% and a net margin of 1.69%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 earnings per share. As a group, analysts forecast that Sonic Automotive, Inc. will post 6.14 earnings per share 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 $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive's dividend payout ratio (DPR) is presently 19.94%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SAH shares. Citigroup started coverage on Sonic Automotive in a report on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 price target for the company. Benchmark assumed coverage on Sonic Automotive in a research report on Wednesday, May 28th. They set a "buy" rating and a $76.00 price objective on the stock. Needham & Company LLC lowered their price target on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Bank of America upped their price target on Sonic Automotive from $80.00 to $94.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Finally, Wall Street Zen cut Sonic Automotive from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Sonic Automotive currently has an average rating of "Moderate Buy" and an average target price of $74.71.

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.