Squarepoint Ops LLC Grows Stake in Sonic Automotive, Inc. (NYSE:SAH)

Squarepoint Ops LLC boosted its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 93.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,010 shares of the company's stock after buying an additional 9,646 shares during the quarter. Squarepoint Ops LLC owned 0.06% of Sonic Automotive worth $1,268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Smartleaf Asset Management LLC raised its stake in shares of Sonic Automotive by 515.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock worth $30,000 after buying an additional 402 shares during the period. Canada Pension Plan Investment Board acquired a new position in Sonic Automotive during the fourth quarter worth $51,000. R Squared Ltd acquired a new stake in shares of Sonic Automotive in the fourth quarter valued at about $72,000. Aster Capital Management DIFC Ltd increased its stake in shares of Sonic Automotive by 1,429.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company's stock worth $98,000 after purchasing an additional 1,444 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Sonic Automotive during the 4th quarter worth about $185,000. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, President Jeff Dyke sold 576 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $70.02, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 50,000 shares of company stock valued at $3,502,062 over the last quarter. Company insiders own 42.65% of the company's stock.

Analyst Upgrades and Downgrades

SAH has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. 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 price objective for the company. Benchmark began coverage on shares of Sonic Automotive in a research note on Wednesday, May 28th. They issued a "buy" rating and a $76.00 target price on the stock. Needham & Company LLC dropped their price target on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Stephens boosted their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $70.71.

Sonic Automotive Stock Performance

Sonic Automotive stock traded down $0.44 during trading hours on Wednesday, reaching $70.56. 184,168 shares of the stock were exchanged, compared to its average volume of 194,085. Sonic Automotive, Inc. has a 52-week low of $51.27 and a 52-week high of $76.78. The stock has a market cap of $2.40 billion, a P/E ratio of 11.42 and a beta of 1.04. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09. The firm's 50 day moving average is $63.19 and its 200 day moving average is $65.67.

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

Sonic Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 dividend on an annualized basis and a yield of 1.98%. Sonic Automotive's dividend payout ratio (DPR) is currently 19.94%.

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.