Inspire Investing LLC Increases Stake in Sonic Automotive, Inc. (NYSE:SAH)

Inspire Investing LLC lifted its stake in Sonic Automotive, Inc. (NYSE:SAH) by 3.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,475 shares of the company’s stock after buying an additional 211 shares during the quarter. Inspire Investing LLC’s holdings in Sonic Automotive were worth $353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC purchased a new stake in Sonic Automotive in the 4th quarter worth $185,000. Hsbc Holdings PLC boosted its stake in Sonic Automotive by 46.5% during the fourth quarter. Hsbc Holdings PLC now owns 18,299 shares of the company’s stock valued at $1,032,000 after buying an additional 5,805 shares during the last quarter. TFO Wealth Partners LLC grew its holdings in Sonic Automotive by 35,366.7% during the 4th quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock valued at $120,000 after buying an additional 2,122 shares in the last quarter. Alpha DNA Investment Management LLC bought a new stake in Sonic Automotive in the 4th quarter worth approximately $463,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Sonic Automotive during the 4th quarter worth approximately $795,000. Institutional investors own 46.92% of the company’s stock.

Sonic Automotive Stock Performance

Shares of NYSE:SAH opened at $57.62 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.36 and a debt-to-equity ratio of 2.04. Sonic Automotive, Inc. has a 12 month low of $41.19 and a 12 month high of $64.68. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 11.81 and a beta of 1.61. The firm’s 50-day moving average is $58.48 and its 200 day moving average is $56.19.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.09. Sonic Automotive had a return on equity of 25.31% and a net margin of 1.35%. The firm had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the prior year, the business posted $1.83 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Research analysts predict that Sonic Automotive, Inc. will post 5.79 EPS for the current year.

Sonic Automotive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, September 13th. Sonic Automotive’s dividend payout ratio is currently 24.59%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SAH shares. Stephens assumed coverage on shares of Sonic Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $64.00 target price for the company. Bank of America dropped their price objective on shares of Sonic Automotive from $68.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Needham & Company LLC assumed coverage on shares of Sonic Automotive in a research report on Tuesday, August 20th. They set a “buy” rating and a $73.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $63.50.

Insider Activity

In related news, CFO Heath Byrd sold 19,827 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $60.00, for a total value of $1,189,620.00. Following the transaction, the chief financial officer now owns 173,618 shares of the company’s stock, valued at approximately $10,417,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 40.95% 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.