Sonic Automotive, Inc. (NYSE:SAH) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC cut its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,595 shares of the company's stock after selling 3,037 shares during the quarter. Mutual Advisors LLC owned about 0.06% of Sonic Automotive worth $1,241,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in shares of Sonic Automotive by 515.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock valued at $30,000 after acquiring an additional 402 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Sonic Automotive in the 4th quarter valued at approximately $51,000. Aster Capital Management DIFC Ltd raised its stake in shares of Sonic Automotive by 1,429.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company's stock valued at $98,000 after acquiring an additional 1,444 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Sonic Automotive in the 4th quarter valued at approximately $185,000. Finally, Mariner LLC purchased a new stake in shares of Sonic Automotive in the 4th quarter valued at approximately $225,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Stock Up 1.0%

Shares of Sonic Automotive stock traded up $0.88 during trading hours on Tuesday, hitting $88.06. The company had a trading volume of 59,133 shares, compared to its average volume of 195,756. The company's 50-day moving average is $72.64 and its two-hundred day moving average is $67.71. Sonic Automotive, Inc. has a twelve month low of $51.27 and a twelve month high of $88.72. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.09 and a quick ratio of 0.38. The company has a market cap of $2.99 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 0.77 and a beta of 1.04.

Sonic Automotive (NYSE:SAH - Get Free Report) last issued its 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. Sonic Automotive had a net margin of 1.69% and a return on equity of 19.42%. The business had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.47 billion. During the same quarter in the prior year, the business posted $1.36 EPS. The company's revenue for the quarter was up 7.9% on a year-over-year basis. Analysts anticipate that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive's dividend payout ratio is currently 19.94%.

Insiders Place Their Bets

In other news, President Jeff Dyke sold 576 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $70.02, for a total value of $40,331.52. Following the completion of the sale, the president owned 605,393 shares in the company, valued at approximately $42,389,617.86. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 50,000 shares of company stock worth $3,502,062. 42.65% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SAH shares. Citigroup started coverage on shares of Sonic Automotive in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 target price on the stock. Needham & Company LLC dropped their price objective on shares of 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 increased their price objective on shares of Sonic Automotive from $80.00 to $94.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Benchmark started coverage on shares of Sonic Automotive in a research report on Wednesday, May 28th. They issued a "buy" rating and a $76.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.71.

Sonic Automotive Company 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.