RidgeWorth Capital Management LLC increased its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 8.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,833,108 shares of the company’s stock after buying an additional 138,294 shares during the period. RidgeWorth Capital Management LLC’s holdings in Sonic Automotive were worth $42,067,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Selway Asset Management bought a new stake in Sonic Automotive during the second quarter valued at approximately $274,000. Towle & Co. bought a new stake in Sonic Automotive during the second quarter valued at approximately $11,617,000. Lombardia Capital Partners LLC boosted its stake in Sonic Automotive by 23.4% in the second quarter. Lombardia Capital Partners LLC now owns 1,231,582 shares of the company’s stock valued at $21,072,000 after buying an additional 233,291 shares during the period. Ameriprise Financial Inc. boosted its stake in Sonic Automotive by 5.5% in the second quarter. Ameriprise Financial Inc. now owns 150,460 shares of the company’s stock valued at $2,574,000 after buying an additional 7,834 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in Sonic Automotive during the second quarter valued at approximately $1,869,000. 65.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sonic Automotive, Inc. (NYSE:SAH) traded up 1.28% during trading on Tuesday, reaching $23.80. 171,523 shares of the company’s stock were exchanged. Sonic Automotive, Inc. has a 52-week low of $15.83 and a 52-week high of $24.55. The stock’s 50 day moving average price is $23.21 and its 200-day moving average price is $19.98. The stock has a market cap of $1.07 billion, a PE ratio of 13.02 and a beta of 1.58.
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SAH has been the topic of several research analyst reports. Jefferies Group LLC reissued a “hold” rating on shares of Sonic Automotive in a research note on Wednesday, October 19th. TheStreet raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Friday, November 11th. Zacks Investment Research raised shares of Sonic Automotive from a “sell” rating to a “hold” rating in a research note on Monday, November 21st. Finally, CL King cut shares of Sonic Automotive from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 10th.
About Sonic Automotive
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. The Company’s Franchised Dealerships segment consists of traditional retail automotive franchises that sell new and used vehicles, replacement parts and vehicle repair and maintenance services, and finance and insurance products.
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