Sonic Automotive, Inc. (NYSE:SAH) Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. cut its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 10.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,282 shares of the company’s stock after selling 393 shares during the period. Valley National Advisers Inc.’s holdings in Sonic Automotive were worth $184,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. UBS Group AG lifted its stake in Sonic Automotive by 263.2% during the 3rd quarter. UBS Group AG now owns 552 shares of the company’s stock worth $26,000 after acquiring an additional 400 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Sonic Automotive in the first quarter valued at approximately $26,000. Envestnet Asset Management Inc. acquired a new position in shares of Sonic Automotive in the first quarter valued at approximately $28,000. SG Americas Securities LLC purchased a new stake in Sonic Automotive during the 3rd quarter worth approximately $135,000. Finally, Point72 Middle East FZE purchased a new stake in Sonic Automotive during the 4th quarter worth approximately $165,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Stock Up 2.2 %

Shares of NYSE SAH opened at $53.19 on Wednesday. The business has a 50-day moving average price of $53.25 and a 200 day moving average price of $51.63. The stock has a market cap of $1.81 billion, a PE ratio of 10.70 and a beta of 1.82. The company has a quick ratio of 0.41, a current ratio of 1.10 and a debt-to-equity ratio of 2.10. Sonic Automotive, Inc. has a 52-week low of $39.02 and a 52-week high of $60.24.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Wednesday, February 14th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.17). Sonic Automotive had a return on equity of 28.06% and a net margin of 1.24%. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter last year, the business posted $2.61 earnings per share. The business’s revenue was down .2% on a year-over-year basis. Equities research analysts forecast that Sonic Automotive, Inc. will post 5.75 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.26%. Sonic Automotive’s dividend payout ratio (DPR) is 24.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SAH shares. TheStreet upgraded shares of Sonic Automotive from a “c+” rating to a “b” rating in a research note on Wednesday, March 6th. Morgan Stanley boosted their price objective on Sonic Automotive from $35.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. StockNews.com cut shares of Sonic Automotive from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Bank of America lowered their price target on shares of Sonic Automotive from $60.00 to $55.00 and set an “underperform” rating for the company in a report on Thursday, February 29th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $53.40.

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.