Westwood Holdings Group Inc. Cuts Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Westwood Holdings Group Inc. lowered its stake in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508,193 shares of the company's stock after selling 70,366 shares during the quarter. Westwood Holdings Group Inc. owned about 1.49% of Sonic Automotive worth $32,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its holdings in Sonic Automotive by 93.1% in the fourth quarter. Squarepoint Ops LLC now owns 20,010 shares of the company's stock worth $1,268,000 after acquiring an additional 9,646 shares in the last quarter. Wexford Capital LP acquired a new position in Sonic Automotive in the fourth quarter valued at approximately $465,000. State of Wyoming lifted its holdings in Sonic Automotive by 96.5% in the fourth quarter. State of Wyoming now owns 5,282 shares of the company's stock valued at $335,000 after acquiring an additional 2,594 shares during the period. ProShare Advisors LLC acquired a new position in Sonic Automotive in the fourth quarter valued at approximately $282,000. Finally, Nuveen Asset Management LLC lifted its holdings in Sonic Automotive by 1.1% in the fourth quarter. Nuveen Asset Management LLC now owns 128,835 shares of the company's stock valued at $8,162,000 after acquiring an additional 1,386 shares during the period. Institutional investors own 46.92% of the company's stock.

Sonic Automotive Trading Up 0.5%

Shares of SAH traded up $0.36 during trading on Thursday, reaching $67.24. 159,710 shares of the company traded hands, compared to its average volume of 192,772. Sonic Automotive, Inc. has a twelve month low of $51.27 and a twelve month high of $76.78. The stock has a market cap of $2.28 billion, a PE ratio of 10.88 and a beta of 1.04. The stock has a 50-day simple moving average of $61.53 and a 200-day simple moving average of $65.35. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 earned $1.36 EPS. Sonic Automotive's revenue was up 7.9% on a year-over-year basis. On average, analysts anticipate that Sonic Automotive, Inc. will post 6.14 earnings per share for the current year.

Sonic Automotive Announces Dividend

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 paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, June 13th. Sonic Automotive's payout ratio is 19.94%.

Analyst Ratings Changes

A number of research firms have recently commented on SAH. Wall Street Zen upgraded Sonic Automotive from a "hold" rating to a "buy" rating in a research report on Friday, May 2nd. 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. Needham & Company LLC lowered their price objective on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. lowered their price objective 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. Finally, Citigroup initiated coverage on Sonic Automotive in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $69.83.

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.