XTX Topco Ltd Raises Stock Holdings in Sonic Automotive, Inc. (NYSE:SAH)

XTX Topco Ltd increased its position in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 150.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,585 shares of the company's stock after acquiring an additional 5,759 shares during the period. XTX Topco Ltd's holdings in Sonic Automotive were worth $546,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new position in shares of Sonic Automotive during the 4th quarter worth approximately $51,000. Aster Capital Management DIFC Ltd grew its holdings in Sonic Automotive by 1,429.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company's stock valued at $98,000 after buying an additional 1,444 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Sonic Automotive during the fourth quarter worth $185,000. Cetera Investment Advisers purchased a new position in Sonic Automotive during the first quarter worth $218,000. Finally, Mariner LLC acquired a new position in shares of Sonic Automotive in the fourth quarter worth $225,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SAH has been the subject of a number of recent research reports. Bank of America lifted their price objective on Sonic Automotive from $80.00 to $94.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Citigroup initiated coverage on shares of Sonic Automotive in a report on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 price target for the company. Stephens lowered shares of Sonic Automotive from an "overweight" rating to an "equal weight" rating and boosted their price objective for the company from $72.00 to $82.00 in a research report on Thursday, July 17th. Wall Street Zen lowered shares of Sonic Automotive from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $95.00 target price on shares of Sonic Automotive in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.86.

Insider Activity at Sonic Automotive

In related news, President Jeff Dyke sold 31,152 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $70.05, for a total transaction of $2,182,197.60. Following the completion of the sale, the president directly owned 605,969 shares of the company's stock, valued at approximately $42,448,128.45. This represents a 4.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 50,000 shares of company stock valued at $3,502,062. Company insiders own 42.65% of the company's stock.

Sonic Automotive Trading Up 1.8%

Shares of SAH stock traded up $1.34 during trading hours on Friday, hitting $74.40. 166,816 shares of the company were exchanged, compared to its average volume of 230,133. The firm has a fifty day moving average of $78.30 and a 200 day moving average of $69.87. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of 1.78. Sonic Automotive, Inc. has a 1 year low of $52.00 and a 1 year high of $89.62. The firm has a market cap of $2.54 billion, a PE ratio of 16.53 and a beta of 0.99.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.56. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.66 billion. Sonic Automotive had a return on equity of 21.40% and a net margin of 1.07%. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.47 earnings per share. Analysts expect that Sonic Automotive, Inc. will post 6.14 earnings per share for the current year.

Sonic Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Sonic Automotive's previous quarterly dividend of $0.35. Sonic Automotive's payout ratio is 33.78%.

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.