Assenagon Asset Management S.A. Lowers Stake in Sonic Automotive, Inc. (NYSE:SAH)

Assenagon Asset Management S.A. decreased its position in shares of Sonic Automotive, Inc. (NYSE:SAH) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 20,868 shares of the company’s stock after selling 397 shares during the period. Assenagon Asset Management S.A. owned 0.06% of Sonic Automotive worth $1,322,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in shares of Sonic Automotive by 3.8% during the second quarter. Millennium Management LLC now owns 456,588 shares of the company’s stock worth $24,870,000 after purchasing an additional 16,556 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Sonic Automotive by 679.8% in the 2nd quarter. Squarepoint Ops LLC now owns 95,006 shares of the company’s stock worth $5,175,000 after buying an additional 82,823 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Sonic Automotive by 26.8% in the 2nd quarter. Renaissance Technologies LLC now owns 88,826 shares of the company’s stock valued at $4,838,000 after buying an additional 18,800 shares during the period. Phocas Financial Corp. purchased a new stake in Sonic Automotive in the 3rd quarter valued at about $3,645,000. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Sonic Automotive by 1.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 56,361 shares of the company’s stock valued at $3,570,000 after acquiring an additional 978 shares during the last quarter. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Trading Up 1.3 %

NYSE:SAH opened at $69.16 on Friday. The business’s 50-day moving average is $65.93 and its two-hundred day moving average is $60.82. The firm has a market capitalization of $2.36 billion, a PE ratio of 12.31 and a beta of 1.67. Sonic Automotive, Inc. has a 12 month low of $47.82 and a 12 month high of $70.88. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.35.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Thursday, October 24th. The company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.17). The company had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.02 earnings per share. Research analysts predict that Sonic Automotive, Inc. will post 5.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Bank of America dropped their price objective on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $74.00 target price on shares of Sonic Automotive in a report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.20.

About Sonic Automotive

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.