GSA Capital Partners LLP Grows Stock Position in Sonic Automotive, Inc. (NYSE:SAH)

GSA Capital Partners LLP lifted its stake in Sonic Automotive, Inc. (NYSE:SAH) by 163.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,235 shares of the company’s stock after purchasing an additional 20,010 shares during the period. GSA Capital Partners LLP owned about 0.09% of Sonic Automotive worth $1,885,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. boosted its holdings in Sonic Automotive by 124.7% in the third quarter. Harbor Capital Advisors Inc. now owns 55,383 shares of the company’s stock valued at $3,239,000 after purchasing an additional 30,731 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Sonic Automotive during the 3rd quarter worth about $532,000. Assenagon Asset Management S.A. purchased a new stake in Sonic Automotive during the 3rd quarter worth about $1,244,000. Inspire Investing LLC lifted its holdings in Sonic Automotive by 8.7% during the 3rd quarter. Inspire Investing LLC now owns 7,036 shares of the company’s stock worth $411,000 after buying an additional 561 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Sonic Automotive during the 2nd quarter worth about $1,351,000. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SAH has been the subject of a number of recent analyst reports. Stephens initiated coverage on Sonic Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 price target for the company. Needham & Company LLC lifted their price target 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 decreased their price target on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Finally, Morgan Stanley raised Sonic Automotive from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $40.00 to $58.00 in a report on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Sonic Automotive has a consensus rating of “Moderate Buy” and a consensus target price of $67.40.

Sonic Automotive Stock Performance

Shares of SAH stock opened at $64.89 on Wednesday. The stock has a market capitalization of $2.22 billion, a PE ratio of 11.55 and a beta of 1.61. Sonic Automotive, Inc. has a 52-week low of $47.82 and a 52-week high of $66.56. The stock’s 50-day moving average price is $57.50 and its 200 day moving average price is $57.49. 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 (NYSE:SAH) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.17). The company had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.55 billion. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.02 EPS. As a group, equities research analysts forecast that Sonic Automotive, Inc. will post 5.74 EPS for the current year.

Sonic Automotive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Sonic Automotive’s previous quarterly dividend of $0.30. Sonic Automotive’s payout ratio is 21.35%.

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.