Wexford Capital LP Makes New Investment in Sonic Automotive, Inc. (NYSE:SAH)

Wexford Capital LP bought a new position in Sonic Automotive, Inc. (NYSE:SAH - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,340 shares of the company's stock, valued at approximately $465,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Sonic Automotive by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company's stock worth $98,658,000 after acquiring an additional 20,058 shares during the period. Millennium Management LLC raised its holdings in shares of Sonic Automotive by 3.9% during the fourth quarter. Millennium Management LLC now owns 476,107 shares of the company's stock worth $30,161,000 after acquiring an additional 17,965 shares during the period. Northern Trust Corp raised its holdings in shares of Sonic Automotive by 6.7% during the fourth quarter. Northern Trust Corp now owns 291,133 shares of the company's stock worth $18,443,000 after acquiring an additional 18,232 shares during the period. First Eagle Investment Management LLC grew its position in Sonic Automotive by 12.4% in the fourth quarter. First Eagle Investment Management LLC now owns 132,106 shares of the company's stock valued at $8,369,000 after purchasing an additional 14,600 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position 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 purchasing an additional 1,386 shares in the last quarter. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Price Performance

SAH stock traded down $0.05 during trading on Friday, reaching $67.17. 159,479 shares of the company were exchanged, compared to its average volume of 192,617. The company has a 50-day moving average of $61.68 and a two-hundred day moving average of $65.41. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 10.87 and a beta of 1.04. Sonic Automotive, Inc. has a twelve month low of $51.27 and a twelve month high of $76.78. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. The business had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.47 billion. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 EPS. As a group, equities analysts predict that Sonic Automotive, Inc. will post 6.14 earnings per share 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. Shareholders of record on Friday, June 13th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive's payout ratio is 19.94%.

Analyst Ratings Changes

SAH has been the subject of a number of analyst reports. Citigroup initiated coverage on shares of Sonic Automotive in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 target price for the company. Wall Street Zen raised shares of Sonic Automotive from a "buy" rating to a "strong-buy" rating in a report on Saturday. Stephens lifted their target price on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price objective on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, Needham & Company LLC dropped their price objective on shares of Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Sonic Automotive has an average rating of "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.