Tudor Investment Corp ET AL Raises Stake in Sonic Automotive, Inc. $SAH

Tudor Investment Corp ET AL raised its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 41.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 183,522 shares of the company’s stock after buying an additional 53,510 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Sonic Automotive were worth $13,964,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SAH. PDT Partners LLC lifted its holdings in shares of Sonic Automotive by 89.9% in the third quarter. PDT Partners LLC now owns 57,702 shares of the company’s stock worth $4,391,000 after buying an additional 27,315 shares in the last quarter. Wexford Capital LP purchased a new position in Sonic Automotive during the third quarter valued at approximately $212,000. Qube Research & Technologies Ltd bought a new stake in Sonic Automotive during the 3rd quarter worth approximately $7,450,000. Northwestern Mutual Wealth Management Co. lifted its stake in Sonic Automotive by 653.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,293 shares of the company’s stock worth $251,000 after purchasing an additional 2,856 shares in the last quarter. Finally, National Bank of Canada FI purchased a new stake in Sonic Automotive in the 3rd quarter worth approximately $78,000. Hedge funds and other institutional investors own 46.92% of the company’s stock.

Insider Activity at Sonic Automotive

In other news, major shareholder Paul P. Rusnak acquired 48,540 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The shares were bought at an average cost of $59.92 per share, with a total value of $2,908,516.80. Following the acquisition, the insider owned 5,088,519 shares in the company, valued at approximately $304,904,058.48. This represents a 0.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders bought 100,000 shares of company stock worth $5,994,472. 43.68% of the stock is currently owned by corporate insiders.

Sonic Automotive Stock Performance

Sonic Automotive stock opened at $65.02 on Monday. Sonic Automotive, Inc. has a fifty-two week low of $52.00 and a fifty-two week high of $89.62. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.32 and a current ratio of 1.09. The stock has a market cap of $2.18 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 1.96 and a beta of 0.82. The firm’s fifty day moving average price is $62.30 and its 200-day moving average price is $65.12.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Wednesday, February 18th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Sonic Automotive had a return on equity of 21.54% and a net margin of 0.78%.The firm’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.51 earnings per share. On average, equities research analysts expect that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, March 13th. Sonic Automotive’s dividend payout ratio is presently 44.84%.

Wall Street Analyst Weigh In

SAH has been the subject of a number of recent analyst reports. Morgan Stanley set a $68.00 price target on shares of Sonic Automotive in a research report on Monday, December 8th. Stephens lowered their price objective on Sonic Automotive from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 19th. Bank of America initiated coverage on Sonic Automotive in a research report on Wednesday, March 4th. They set a “neutral” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Sonic Automotive in a research note on Friday, March 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Sonic Automotive in a research report on Tuesday, March 31st. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $77.50.

About Sonic Automotive

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.