Sonic Automotive, Inc. (NYSE:SAH) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC raised its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 142.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,755 shares of the company’s stock after acquiring an additional 17,472 shares during the quarter. AQR Capital Management LLC owned 0.09% of Sonic Automotive worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Sonic Automotive in the 1st quarter valued at about $30,000. Innealta Capital LLC acquired a new stake in Sonic Automotive in the 2nd quarter valued at about $41,000. AM Squared Ltd acquired a new stake in Sonic Automotive in the 2nd quarter valued at about $82,000. Point72 DIFC Ltd lifted its holdings in Sonic Automotive by 6.9% in the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock valued at $158,000 after acquiring an additional 187 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Sonic Automotive in the 2nd quarter valued at about $228,000. 46.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SAH shares. Stephens started coverage on Sonic Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 price objective on the stock. Bank of America cut their price objective on Sonic Automotive from $68.00 to $67.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Needham & Company LLC started coverage on Sonic Automotive in a report on Tuesday, August 20th. They set a “buy” rating and a $73.00 price objective on the stock. Morgan Stanley upgraded Sonic Automotive from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $40.00 to $58.00 in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.50.

Insider Transactions at Sonic Automotive

In other Sonic Automotive news, CFO Heath Byrd sold 19,827 shares of Sonic Automotive stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $60.00, for a total transaction of $1,189,620.00. Following the sale, the chief financial officer now owns 173,618 shares in the company, valued at $10,417,080. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 40.95% of the stock is currently owned by corporate insiders.

Sonic Automotive Trading Down 0.2 %

NYSE:SAH opened at $53.62 on Friday. The stock’s 50 day moving average price is $58.25 and its 200 day moving average price is $56.51. Sonic Automotive, Inc. has a 52 week low of $41.19 and a 52 week high of $64.68. The company has a market capitalization of $1.83 billion, a P/E ratio of 10.99 and a beta of 1.60. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.36 and a current ratio of 1.10.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Monday, August 5th. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company posted $1.83 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. On average, research analysts forecast that Sonic Automotive, Inc. will post 5.72 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.24%. Sonic Automotive’s payout ratio is 24.59%.

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.