The Manufacturers Life Insurance Company Sells Shares of Sonic Automotive,

Trending News ☀️

Although the sale has caused Sonic Automotive ($NYSE:SAH)’s share price to dip slightly, it is thought that market sentiment and confidence in the company remains high. Many investors are optimistic about Sonic Automotive’s future prospects and believe that it is well positioned to benefit from industry growth in the future. Overall, the sale of MLI’s shares in Sonic Automotive is expected to have minimal long-term impact on the company. The sale is viewed as a sensible move by the insurer, which has reduced its exposure and realized a profit from its initial investment.

Price History

On Monday, SONIC opened at $58.4 and closed at $60.3, a 3.2% rise from its previous closing price of $58.4. This rise indicates that investors are responding to this news positively and have reacted favourably to the sale of shares. Overall, the news is seen as a positive sign for SONIC’s financial health and perceived future prospects. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Sonic Automotive. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Sonic Automotive. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Sonic Automotive. More…

Key Ratios Snapshot

Some of the financial key ratios for Sonic Automotive are shown below. More…

Analysis

GoodWhale analyses provide an overall assessment of SONIC AUTOMOTIVE‘s financials. Using our proprietary Risk Rating system, we assess that SONIC AUTOMOTIVE is a medium risk investment. We consider both the financial and business aspects when making this determination. That said, users should be aware that our analysis also detects two risk warnings in the cashflow statement and financial journal. To understand these warnings in more detail, please become a registered GoodWhale user. More…

Peers

The company operates in a highly competitive industry with several large competitors, including Asbury Automotive Group Inc, Lithia Motors Inc, Penske Automotive Group Inc. Sonic Automotive Inc has a strong market position and is well-positioned to compete effectively against its rivals.

– Asbury Automotive Group Inc ($NYSE:ABG)

Asbury Automotive Group Inc is a large publicly traded company that operates in the automotive retailing industry. The company has a market capitalization of 3.9 billion as of 2022 and a return on equity of 31.39%. Asbury Automotive Group Inc is one of the largest automotive retailers in the United States and operates over 100 dealerships across the country. The company sells and services a variety of new and used vehicles, and also provides financing and insurance products to its customers.

– Lithia Motors Inc ($NYSE:LAD)

Lithia Motors Inc is an American automotive retailer. It is the ninth largest automotive retailer in the United States and is publicly traded on the New York Stock Exchange. The company operates through three segments: Domestic, Import, and Luxury. Lithia also has a minority investment in an electric vehicle (EV) company.

Lithia’s market cap is 6.48B as of 2022. The company has a Return on Equity of 26.55%. Lithia Motors Inc is an American automotive retailer. It is the ninth largest automotive retailer in the United States and is publicly traded on the New York Stock Exchange. The company operates through three segments: Domestic, Import, and Luxury. Lithia also has a minority investment in an electric vehicle (EV) company.

– Penske Automotive Group Inc ($NYSE:PAG)

Penske Automotive Group is an American multinational automotive retailing company headquartered in Bloomfield Hills, Michigan. As of early 2021, it operated over 3,300 automotive dealerships and 250 collision repair centers in the United States and United Kingdom. Penske Automotive Group is a Fortune 500 company with revenue of $19.6 billion as of 2020. The company was founded in 1927 by Roger Penske and is currently led by CEO Jose Munoz.

Summary

Sonic Automotive, Inc. is a company that has been making positive strides in the stock market. The current news sentiment surrounding this company is generally positive, and the stock price has responded accordingly by going up. Investors should view this favorably as an indication of the current market’s confidence in Sonic Automotive, Inc. as a viable investment. It is important to keep up with any other news related to the company and make informed decisions on whether or not to invest in this company.