Valley National Advisers Inc. Sells 565 Shares of Sonic Automotive, Inc. (NYSE:SAH)

Valley National Advisers Inc. trimmed its stake in Sonic Automotive, Inc. (NYSE:SAH) by 55.4% during the 4th quarter, HoldingsChannel reports. The fund owned 454 shares of the company’s stock after selling 565 shares during the quarter. Valley National Advisers Inc.’s holdings in Sonic Automotive were worth $28,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Phocas Financial Corp. purchased a new position in shares of Sonic Automotive in the third quarter worth $3,645,000. Harbor Capital Advisors Inc. increased its position in Sonic Automotive by 1.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 56,361 shares of the company’s stock valued at $3,570,000 after acquiring an additional 978 shares during the last quarter. JPMorgan Chase & Co. increased its position in Sonic Automotive by 68.6% during the third quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company’s stock valued at $3,113,000 after acquiring an additional 21,650 shares during the last quarter. FMR LLC increased its position in Sonic Automotive by 15.0% during the third quarter. FMR LLC now owns 52,259 shares of the company’s stock valued at $3,056,000 after acquiring an additional 6,822 shares during the last quarter. Finally, GSA Capital Partners LLP increased its position in Sonic Automotive by 163.7% during the third quarter. GSA Capital Partners LLP now owns 32,235 shares of the company’s stock valued at $1,885,000 after acquiring an additional 20,010 shares during the last quarter. 46.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SAH has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $74.00 price objective on shares of Sonic Automotive in a research report on Thursday, January 16th. Bank of America reduced their price objective on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Monday, October 14th. JPMorgan Chase & Co. reduced their price objective on Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Finally, Stephens raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $67.20.

Sonic Automotive Stock Performance

NYSE SAH opened at $72.60 on Tuesday. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 12.92 and a beta of 1.68. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. The business has a 50-day moving average price of $67.15 and a 200-day moving average price of $61.77. Sonic Automotive, Inc. has a twelve month low of $47.82 and a twelve month high of $75.68.

Sonic Automotive Company 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.