Smartleaf Asset Management LLC Acquires 402 Shares of Sonic Automotive, Inc. (NYSE:SAH)

Smartleaf Asset Management LLC grew its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH) by 515.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 480 shares of the company’s stock after buying an additional 402 shares during the period. Smartleaf Asset Management LLC’s holdings in Sonic Automotive were worth $30,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of SAH. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Sonic Automotive by 100.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after buying an additional 599 shares in the last quarter. R Squared Ltd bought a new position in shares of Sonic Automotive during the 4th quarter worth approximately $72,000. SG Americas Securities LLC bought a new position in shares of Sonic Automotive during the 4th quarter worth approximately $244,000. MQS Management LLC bought a new position in shares of Sonic Automotive during the 3rd quarter worth approximately $394,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Sonic Automotive by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 9,643 shares of the company’s stock worth $530,000 after buying an additional 609 shares in the last quarter. 46.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SAH has been the topic of a number of recent research reports. StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Seaport Res Ptn upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. increased their target price on Sonic Automotive from $74.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Needham & Company LLC increased their target price on Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Stephens increased their target price on Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $79.20.

Sonic Automotive Trading Down 1.7 %

NYSE SAH opened at $64.23 on Thursday. The firm has a market capitalization of $2.17 billion, a P/E ratio of 10.39 and a beta of 1.70. The business has a fifty day simple moving average of $69.36 and a 200 day simple moving average of $63.96. Sonic Automotive, Inc. has a 12 month low of $47.82 and a 12 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.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. On average, analysts predict that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Friday, March 14th. Sonic Automotive’s dividend payout ratio is presently 22.65%.

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.