Y Intercept Hong Kong Ltd Sells 3,755 Shares of Sonic Automotive, Inc. (NYSE:SAH)

Y Intercept Hong Kong Ltd lowered its position in Sonic Automotive, Inc. (NYSE:SAH) by 36.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,484 shares of the company’s stock after selling 3,755 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Sonic Automotive were worth $379,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SAH. Innealta Capital LLC purchased a new position in shares of Sonic Automotive in the second quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. raised its stake in Sonic Automotive by 100.3% during 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 period. AM Squared Ltd purchased a new position in Sonic Automotive in the 2nd quarter worth approximately $82,000. Point72 DIFC Ltd boosted its stake in Sonic Automotive by 6.9% in the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock worth $158,000 after purchasing an additional 187 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in Sonic Automotive during the 2nd quarter valued at approximately $228,000. Hedge funds and other institutional investors own 46.92% of the company’s stock.

Sonic Automotive Stock Performance

NYSE SAH opened at $67.12 on Tuesday. The company has a market cap of $2.29 billion, a P/E ratio of 11.94 and a beta of 1.65. The business’s 50 day moving average price is $62.27 and its 200-day moving average price is $59.06. Sonic Automotive, Inc. has a fifty-two week low of $47.82 and a fifty-two week high of $70.88. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.35 and a current ratio of 1.11.

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). Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the prior year, the company posted $2.02 EPS. The company’s revenue was down 4.2% compared to the same quarter last year. Sell-side analysts predict that Sonic Automotive, Inc. will post 5.6 earnings per share for the current year.

Sonic Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Sonic Automotive’s previous quarterly dividend of $0.30. Sonic Automotive’s payout ratio is 21.35%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SAH. Needham & Company LLC upped their target price on shares of Sonic Automotive from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Bank of America reduced their price objective on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. JPMorgan Chase & Co. increased their target price on 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 target on the stock. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.40.

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.