Jane Street Group LLC Trims Position in Sonic Automotive, Inc. (NYSE:SAH)

Jane Street Group LLC lowered its position in shares of Sonic Automotive, Inc. (NYSE:SAH) by 20.9% during the third quarter, Holdings Channel reports. The fund owned 25,531 shares of the company’s stock after selling 6,755 shares during the quarter. Jane Street Group LLC’s holdings in Sonic Automotive were worth $1,493,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Sonic Automotive during the 2nd quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Sonic Automotive by 100.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock valued at $70,000 after purchasing an additional 599 shares during the last quarter. AM Squared Ltd purchased a new stake in shares of Sonic Automotive during the 2nd quarter valued at $82,000. Point72 DIFC Ltd increased its holdings in shares of Sonic Automotive by 6.9% during the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock worth $158,000 after buying an additional 187 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Sonic Automotive in the 2nd quarter worth $228,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Stock Down 1.2 %

NYSE SAH opened at $63.59 on Friday. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. Sonic Automotive, Inc. has a fifty-two week low of $47.82 and a fifty-two week high of $70.88. The business has a 50 day moving average price of $63.80 and a two-hundred day moving average price of $59.44. The stock has a market cap of $2.17 billion, a PE ratio of 11.31 and a beta of 1.65.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Thursday, October 24th. The company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.17). The firm had revenue of $3.49 billion during 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%. Sonic Automotive’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.02 earnings per share. As a group, sell-side analysts predict that Sonic Automotive, Inc. will post 5.6 EPS for the current fiscal year.

Sonic Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Sonic Automotive’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 2.20%. Sonic Automotive’s dividend payout ratio (DPR) is currently 24.91%.

Wall Street Analyst Weigh In

SAH has been the subject of a number of research reports. Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Needham & Company LLC boosted their target price on Sonic Automotive from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America cut their price target on shares of Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on shares of Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Finally, Stephens initiated coverage on shares of Sonic Automotive in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $64.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.40.

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.