Aigen Investment Management LP Sells 2,296 Shares of Sonic Automotive, Inc. (NYSE:SAH)

Aigen Investment Management LP lessened its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 29.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,512 shares of the company’s stock after selling 2,296 shares during the quarter. Aigen Investment Management LP’s holdings in Sonic Automotive were worth $322,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in Sonic Automotive in the first quarter valued at approximately $30,000. Innealta Capital LLC bought a new position in shares of Sonic Automotive in the second quarter valued at $41,000. AM Squared Ltd bought a new stake in Sonic Automotive during the second quarter worth $82,000. Point72 DIFC Ltd lifted its stake in Sonic Automotive by 6.9% in the second quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock valued at $158,000 after acquiring an additional 187 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Sonic Automotive in the 2nd quarter valued at about $228,000. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Stock Performance

Shares of NYSE:SAH opened at $63.94 on Friday. Sonic Automotive, Inc. has a 12-month low of $47.82 and a 12-month high of $67.15. The company’s 50 day moving average price is $57.88 and its two-hundred day moving average price is $57.62. The firm has a market cap of $2.19 billion, a PE ratio of 11.38 and a beta of 1.61. 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 posted its quarterly earnings data on Thursday, October 24th. The company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.17). Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the business earned $2.02 EPS. Sonic Automotive’s revenue was down 4.2% on a year-over-year basis. Equities research analysts predict that Sonic Automotive, Inc. will post 5.74 earnings per share for the current year.

Sonic Automotive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a $0.35 dividend. This is a positive change from Sonic Automotive’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.19%. Sonic Automotive’s dividend payout ratio (DPR) is presently 21.35%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SAH. JPMorgan Chase & Co. raised their target price on shares of Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Stephens started coverage on Sonic Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 target price on the stock. Needham & Company LLC lifted their price objective 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. Morgan Stanley raised shares of Sonic Automotive from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $40.00 to $58.00 in a report on Wednesday, September 25th. Finally, Bank of America cut their price objective on shares of Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.