R Squared Ltd Takes Position in Sonic Automotive, Inc. (NYSE:SAH)

R Squared Ltd purchased a new position in shares of Sonic Automotive, Inc. (NYSE:SAH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,130 shares of the company’s stock, valued at approximately $72,000.

Several other institutional investors also recently added to or reduced their stakes in SAH. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Sonic Automotive by 100.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after buying an additional 599 shares during the period. SG Americas Securities LLC purchased a new position in shares of Sonic Automotive in the 4th quarter valued at approximately $244,000. MQS Management LLC acquired a new position in shares of Sonic Automotive in the third quarter valued at approximately $394,000. Inspire Investing LLC raised its stake in shares of Sonic Automotive by 8.7% during the third quarter. Inspire Investing LLC now owns 7,036 shares of the company’s stock worth $411,000 after purchasing an additional 561 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Sonic Automotive by 6.7% during the third quarter. Franklin Resources Inc. now owns 9,643 shares of the company’s stock worth $530,000 after purchasing an additional 609 shares during the period. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Price Performance

Shares of NYSE:SAH opened at $74.20 on Friday. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 13.20 and a beta of 1.67. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.35. The business’s 50 day simple moving average is $67.09 and its 200-day simple moving average is $61.62. Sonic Automotive, Inc. has a 12 month low of $47.82 and a 12 month high of $75.68.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SAH shares. Stephens upgraded shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 24th. Needham & Company LLC restated a “buy” rating and issued a $74.00 price objective on shares of Sonic Automotive in a research report on Thursday, January 16th. Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Bank of America cut their target price on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. decreased their price target on Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Sonic Automotive has a consensus rating of “Buy” and a consensus price target of $67.20.

About Sonic Automotive

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.