Allianz Asset Management GmbH Decreases Stock Position in Sonic Automotive, Inc. $SAH

Allianz Asset Management GmbH trimmed its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 20.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,753 shares of the company’s stock after selling 12,949 shares during the period. Allianz Asset Management GmbH’s holdings in Sonic Automotive were worth $3,862,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SAH. Nisa Investment Advisors LLC boosted its holdings in Sonic Automotive by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 4,509 shares of the company’s stock valued at $362,000 after acquiring an additional 165 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Sonic Automotive by 992.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock worth $35,000 after purchasing an additional 397 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Sonic Automotive by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,853 shares of the company’s stock valued at $504,000 after purchasing an additional 483 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Sonic Automotive by 4.3% during the 3rd 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 during the period. Finally, Prudential Financial Inc. increased its position in Sonic Automotive by 4.4% during the 2nd quarter. Prudential Financial Inc. now owns 19,014 shares of the company’s stock worth $1,520,000 after purchasing an additional 807 shares in the last quarter. Institutional investors and hedge funds own 46.92% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SAH. Wall Street Zen cut shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. Morgan Stanley set a $68.00 target price on shares of Sonic Automotive in a report on Monday, December 8th. Barclays lowered their price target 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. Zacks Research upgraded Sonic Automotive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 13th. Finally, Needham & Company LLC lowered their target price on Sonic Automotive from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $79.63.

Sonic Automotive Stock Down 2.3%

SAH stock opened at $60.11 on Wednesday. Sonic Automotive, Inc. has a twelve month low of $52.00 and a twelve month high of $89.62. The company has a current ratio of 1.02, a quick ratio of 0.27 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $2.05 billion, a P/E ratio of 16.25 and a beta of 0.93. The firm has a 50 day simple moving average of $63.17 and a 200-day simple moving average of $69.43.

Sonic Automotive Profile

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.