Sonic Automotive, Inc. (NYSE:SAH) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. cut its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 595,916 shares of the company’s stock after selling 34,534 shares during the quarter. Westwood Holdings Group Inc. owned 1.76% of Sonic Automotive worth $32,460,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Sonic Automotive in the 1st quarter worth $30,000. Innealta Capital LLC acquired a new position in shares of Sonic Automotive in the 2nd quarter worth $41,000. AM Squared Ltd acquired a new position in shares of Sonic Automotive in the 2nd quarter worth $82,000. TFO Wealth Partners LLC grew its holdings in shares of Sonic Automotive by 35,366.7% in the 4th quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock worth $120,000 after acquiring an additional 2,122 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Sonic Automotive in the 4th quarter worth $185,000. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Trading Down 1.6 %

NYSE SAH opened at $57.62 on Friday. Sonic Automotive, Inc. has a 1-year low of $41.19 and a 1-year high of $64.68. The company has a current ratio of 1.10, a quick ratio of 0.36 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $1.95 billion, a PE ratio of 11.81 and a beta of 1.61. The firm’s fifty day simple moving average is $58.48 and its 200-day simple moving average is $56.16.

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

Sonic Automotive Announces Dividend

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

Insider Buying and Selling

In related news, CFO Heath Byrd sold 19,827 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 173,618 shares in the company, valued at $10,417,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 40.95% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on SAH shares. JPMorgan Chase & Co. boosted their target price on shares of Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Bank of America cut their target price on shares of Sonic Automotive from $68.00 to $67.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Stephens started coverage on shares of Sonic Automotive in a research note on Thursday, September 12th. They set an “equal weight” rating and a $64.00 target price on the stock. Finally, Needham & Company LLC started coverage on shares of Sonic Automotive in a research note on Tuesday, August 20th. They set a “buy” rating and a $73.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sonic Automotive has a consensus rating of “Hold” and a consensus target price of $63.50.

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.