LSV Asset Management Has $561,000 Stake in Sonic Automotive, Inc. (NYSE:SAH)

LSV Asset Management decreased its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 90.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,300 shares of the company’s stock after selling 94,900 shares during the period. LSV Asset Management’s holdings in Sonic Automotive were worth $561,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC acquired a new position in shares of Sonic Automotive in the 4th quarter valued at about $795,000. Westwood Holdings Group Inc. acquired a new position in shares of Sonic Automotive in the 4th quarter valued at about $31,473,000. BNP Paribas Financial Markets increased its holdings in shares of Sonic Automotive by 125.4% in the 4th quarter. BNP Paribas Financial Markets now owns 43,175 shares of the company’s stock valued at $2,427,000 after purchasing an additional 24,021 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Sonic Automotive in the 4th quarter valued at approximately $1,724,000. Finally, Quantbot Technologies LP increased its holdings in Sonic Automotive by 109.1% in the first quarter. Quantbot Technologies LP now owns 17,623 shares of the company’s stock worth $1,003,000 after buying an additional 9,193 shares during the last quarter. Institutional investors and hedge funds own 46.92% of the company’s stock.

Analysts Set New Price Targets

SAH has been the topic of a number of research reports. Stephens initiated coverage on Sonic Automotive in a report on Thursday. They issued an “equal weight” rating and a $64.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday. Bank of America dropped 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. Finally, Needham & Company LLC initiated coverage on Sonic Automotive in a report on Tuesday, August 20th. They issued a “buy” rating and a $73.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Sonic Automotive has an average rating of “Hold” and a consensus price target of $63.50.

Insider Transactions at Sonic Automotive

In other news, CFO Heath Byrd sold 19,827 shares of the firm’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 sale, the chief financial officer now owns 173,618 shares in the company, valued at $10,417,080. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 40.95% of the stock is currently owned by corporate insiders.

Sonic Automotive Trading Up 1.6 %

Shares of SAH stock opened at $54.37 on Friday. Sonic Automotive, Inc. has a 12 month low of $41.19 and a 12 month high of $64.68. The company has a quick ratio of 0.36, a current ratio of 1.10 and a debt-to-equity ratio of 2.04. The business’s 50 day moving average is $58.08 and its two-hundred day moving average is $55.91. The company has a market cap of $1.86 billion, a PE ratio of 11.14 and a beta of 1.61.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Monday, August 5th. The company reported $1.47 EPS for the quarter, beating 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 company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last year, the company posted $1.83 earnings per share. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. Equities analysts predict that Sonic Automotive, Inc. will post 5.87 EPS for the current 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 2.21%. 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.