Cubist Systematic Strategies LLC Cuts Stock Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Cubist Systematic Strategies LLC trimmed its stake in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 41.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,680 shares of the company's stock after selling 14,562 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.06% of Sonic Automotive worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Denali Advisors LLC grew its position in shares of Sonic Automotive by 111.2% during the 4th quarter. Denali Advisors LLC now owns 87,100 shares of the company's stock worth $5,518,000 after buying an additional 45,857 shares during the period. HITE Hedge Asset Management LLC grew its position in shares of Sonic Automotive by 105.2% during the 4th quarter. HITE Hedge Asset Management LLC now owns 58,526 shares of the company's stock worth $3,708,000 after buying an additional 30,002 shares during the period. JPMorgan Chase & Co. grew its position in shares of Sonic Automotive by 52.1% during the 4th quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company's stock worth $5,129,000 after buying an additional 27,726 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Sonic Automotive during the 4th quarter worth approximately $1,341,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Sonic Automotive during the 4th quarter worth approximately $1,311,000. 46.92% of the stock is owned by institutional investors and hedge funds.

Sonic Automotive Stock Up 0.7%

NYSE SAH traded up $0.49 during mid-day trading on Friday, hitting $69.28. The company's stock had a trading volume of 98,496 shares, compared to its average volume of 192,184. The company's 50 day simple moving average is $60.95 and its 200 day simple moving average is $65.06. Sonic Automotive, Inc. has a twelve month low of $51.27 and a twelve month high of $76.78. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 11.21 and a beta of 1.04.

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, topping analysts' consensus estimates of $1.46 by $0.02. The firm 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 business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 EPS. 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 disclosed 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 2.02%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive's dividend payout ratio is 19.94%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. reduced 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 report on Thursday, March 27th. StockNews.com raised shares of Sonic Automotive from a "hold" rating to a "buy" rating in a research report on Friday, May 2nd. Needham & Company LLC reduced 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 report on Thursday, April 24th. Citigroup started coverage on shares of Sonic Automotive in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price target for the company. Finally, Stephens lifted their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Sonic Automotive has a consensus rating of "Moderate Buy" and a consensus price target of $69.83.

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.