Two Sigma Investments LP Reduces Position in Sonic Automotive, Inc. (NYSE:SAH)

Two Sigma Investments LP reduced its stake in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 43.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,055 shares of the company's stock after selling 20,688 shares during the quarter. Two Sigma Investments LP owned approximately 0.08% of Sonic Automotive worth $1,714,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SAH. Smartleaf Asset Management LLC boosted its position 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 valued at $30,000 after acquiring an additional 402 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Sonic Automotive during the fourth quarter worth about $51,000. Aster Capital Management DIFC Ltd boosted its holdings in 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 purchasing an additional 1,444 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Sonic Automotive in the 4th quarter valued at approximately $185,000. Finally, Mariner LLC acquired a new stake in shares of Sonic Automotive during the 4th quarter worth approximately $225,000. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sonic Automotive news, President Jeff Dyke sold 576 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $70.02, for a total transaction of $40,331.52. Following the sale, the president now owns 605,393 shares in the company, valued at $42,389,617.86. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 50,000 shares of company stock worth $3,502,062 in the last ninety days. 42.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Benchmark began coverage on Sonic Automotive in a research report on Wednesday, May 28th. They issued a "buy" rating and a $76.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Stephens raised their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Citigroup began coverage on shares of Sonic Automotive in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price objective on the stock. Finally, Wall Street Zen raised shares of Sonic Automotive from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $70.71.

Sonic Automotive Trading Up 2.2%

Shares of NYSE SAH traded up $1.56 during trading on Friday, reaching $73.09. The stock had a trading volume of 202,849 shares, compared to its average volume of 194,336. 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 company has a market cap of $2.48 billion, a P/E ratio of 11.83 and a beta of 1.02. Sonic Automotive, Inc. has a fifty-two week low of $51.27 and a fifty-two week high of $76.78. The business's 50-day moving average price is $63.79 and its 200-day moving average price is $65.80.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. The company 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 19.96% and a net margin of 1.52%. Sonic Automotive's revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 EPS. On average, equities research analysts predict that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive's payout ratio is currently 19.94%.

About Sonic Automotive

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.