Sonic Automotive Inc (NYSE:SAH) Director Acquires $57,150.00 in Stock

Sonic Automotive Inc (NYSE:SAH) Director Marcus G. Smith bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was purchased at an average cost of $11.43 per share, with a total value of $57,150.00. Following the acquisition, the director now directly owns 30,382 shares in the company, valued at approximately $347,266.26. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Shares of SAH stock opened at $13.52 on Thursday. The stock has a market cap of $455.40 million, a P/E ratio of 4.11 and a beta of 1.85. Sonic Automotive Inc has a 52 week low of $9.00 and a 52 week high of $35.41. The company has a quick ratio of 0.24, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. The company’s fifty day simple moving average is $24.61 and its two-hundred day simple moving average is $29.52.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Sonic Automotive had a net margin of 1.38% and a return on equity of 12.96%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 EPS. On average, analysts anticipate that Sonic Automotive Inc will post 2.08 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.96%. The ex-dividend date is Thursday, March 12th. Sonic Automotive’s payout ratio is currently 15.09%.

SAH has been the topic of several research analyst reports. ValuEngine upgraded shares of Sonic Automotive from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 12th. Benchmark decreased their price target on shares of Sonic Automotive from $35.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Sonic Automotive from $35.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Sonic Automotive presently has an average rating of “Hold” and an average price target of $29.17.

Hedge funds have recently made changes to their positions in the business. Nuveen Asset Management LLC raised its position in shares of Sonic Automotive by 23.4% during the 4th quarter. Nuveen Asset Management LLC now owns 348,633 shares of the company’s stock valued at $10,808,000 after buying an additional 66,027 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Sonic Automotive by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 381,464 shares of the company’s stock valued at $11,825,000 after buying an additional 24,003 shares in the last quarter. AXA purchased a new stake in shares of Sonic Automotive during the 4th quarter valued at about $1,429,000. Caxton Associates LP purchased a new stake in shares of Sonic Automotive during the 4th quarter valued at about $351,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Sonic Automotive during the 4th quarter valued at about $1,877,000. Institutional investors and hedge funds own 60.78% of the company’s stock.

About Sonic Automotive

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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.

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