Y Intercept Hong Kong Ltd Takes $647,000 Position in Sonic Automotive, Inc. $SAH

Y Intercept Hong Kong Ltd bought a new stake in Sonic Automotive, Inc. (NYSE:SAH) during the third quarter, HoldingsChannel.com reports. The fund bought 8,508 shares of the company’s stock, valued at approximately $647,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Sonic Automotive by 4.3% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,413 shares of the company’s stock worth $1,173,000 after purchasing an additional 642 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Sonic Automotive by 3.8% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 39,730 shares of the company’s stock worth $3,023,000 after buying an additional 1,438 shares during the last quarter. NorthCrest Asset Manangement LLC grew its holdings in shares of Sonic Automotive by 51.0% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 17,555 shares of the company’s stock valued at $1,272,000 after acquiring an additional 5,932 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Sonic Automotive by 50.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,153 shares of the company’s stock valued at $1,026,000 after acquiring an additional 4,757 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Sonic Automotive in the third quarter valued at about $760,000. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Trading Down 0.4%

Shares of SAH stock opened at $60.20 on Wednesday. Sonic Automotive, Inc. has a 12-month low of $52.00 and a 12-month high of $89.62. The company has a market capitalization of $2.06 billion, a PE ratio of 16.27 and a beta of 0.93. The firm has a 50 day moving average price of $63.31 and a two-hundred day moving average price of $70.01. The company has a quick ratio of 0.27, a current ratio of 1.02 and a debt-to-equity ratio of 1.68.

Analysts Set New Price Targets

Several research analysts recently commented on SAH shares. Needham & Company LLC reduced their price target on Sonic Automotive from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Barclays cut their price objective on Sonic Automotive from $71.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 21st. Citigroup raised shares of Sonic Automotive from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Thursday, November 6th. Zacks Research raised shares of Sonic Automotive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Sonic Automotive in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $79.63.

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.