Sonic Automotive, Inc. (NYSE:SAH) Shares Purchased by Voloridge Investment Management LLC

Voloridge Investment Management LLC boosted its position in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 110.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,766 shares of the company's stock after purchasing an additional 36,691 shares during the period. Voloridge Investment Management LLC owned about 0.20% of Sonic Automotive worth $4,420,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SAH. Smartleaf Asset Management LLC lifted its position in Sonic Automotive by 515.4% during the fourth 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 stake in Sonic Automotive during the fourth quarter valued at approximately $51,000. R Squared Ltd purchased a new stake in Sonic Automotive during the fourth quarter valued at approximately $72,000. Aster Capital Management DIFC Ltd lifted its position in 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 valued at $98,000 after acquiring an additional 1,444 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Sonic Automotive during the fourth quarter valued at approximately $185,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Stock Performance

SAH stock traded up $0.78 during midday trading on Friday, hitting $69.95. 191,345 shares of the stock traded hands, compared to its average volume of 193,678. The firm has a market cap of $2.38 billion, a P/E ratio of 11.32 and a beta of 1.04. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. The stock's fifty day simple moving average is $62.43 and its 200-day simple moving average is $65.55. Sonic Automotive, Inc. has a 1-year low of $51.27 and a 1-year high of $76.78.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.47 billion. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. The company's revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $1.36 earnings per share. On average, analysts expect that Sonic Automotive, Inc. will post 6.14 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The company also recently disclosed 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. This represents a $1.40 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, June 13th. Sonic Automotive's payout ratio is currently 19.94%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SAH shares. Needham & Company LLC cut 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 note on Thursday, April 24th. Citigroup started coverage on shares of Sonic Automotive in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price objective on the stock. JPMorgan Chase & Co. cut 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 note on Thursday, March 27th. Wall Street Zen upgraded shares of Sonic Automotive from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Finally, Stephens increased their price objective on shares of 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 assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Sonic Automotive presently has an average rating of "Buy" and a consensus target price of $70.71.

Insider Buying and Selling

In related news, President Jeff Dyke sold 31,152 shares of Sonic Automotive stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $70.05, for a total value of $2,182,197.60. Following the completion of the transaction, the president now owns 605,969 shares in the company, valued at approximately $42,448,128.45. The trade was a 4.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 49,424 shares of company stock worth $3,461,731. Insiders own 42.65% of the company's stock.

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.