Sonic Automotive, Inc. $SAH Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 2.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 63,702 shares of the company’s stock after selling 1,858 shares during the quarter. Allianz Asset Management GmbH’s holdings in Sonic Automotive were worth $5,092,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SAH. Quarry LP acquired a new position in Sonic Automotive during the 1st quarter worth $84,000. Cetera Investment Advisers acquired a new position in shares of Sonic Automotive in the 1st quarter valued at about $218,000. Eisler Capital Management Ltd. acquired a new position in shares of Sonic Automotive in the 1st quarter valued at about $219,000. Aristeia Capital L.L.C. acquired a new position in shares of Sonic Automotive in the 1st quarter valued at about $238,000. Finally, Harrell Investment Partners LLC acquired a new position in shares of Sonic Automotive in the 2nd quarter valued at about $240,000. 46.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SAH shares. Wall Street Zen lowered shares of Sonic Automotive from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $95.00 price target on shares of Sonic Automotive in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sonic Automotive in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Sonic Automotive from $74.00 to $76.00 and gave the company an “underweight” rating in a report on Tuesday, October 14th. Finally, Zacks Research raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.71.

Sonic Automotive Trading Up 0.5%

Sonic Automotive stock opened at $77.87 on Thursday. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of 1.78. The firm has a 50-day moving average price of $78.39 and a two-hundred day moving average price of $74.03. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 17.30 and a beta of 0.95. Sonic Automotive, Inc. has a 52-week low of $52.00 and a 52-week high of $89.62.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Thursday, July 24th. The company reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.56. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.66 billion. Sonic Automotive had a net margin of 1.07% and a return on equity of 21.40%. Sonic Automotive’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.47 EPS. Sell-side analysts expect that Sonic Automotive, Inc. will post 6.14 earnings per share for the current year.

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.