Alliancebernstein L.P. Sells 2,300 Shares of Sonic Drive-In (SONC)

Alliancebernstein L.P. trimmed its stake in shares of Sonic Drive-In (NASDAQ:SONC) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,605 shares of the restaurant operator’s stock after selling 2,300 shares during the quarter. Alliancebernstein L.P. owned approximately 0.20% of Sonic Drive-In worth $2,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Aperio Group LLC bought a new position in Sonic Drive-In during the 4th quarter worth approximately $203,000. Wolverine Trading LLC grew its position in shares of Sonic Drive-In by 382.4% in the 3rd quarter. Wolverine Trading LLC now owns 9,110 shares of the restaurant operator’s stock worth $232,000 after buying an additional 12,336 shares during the last quarter. Commerce Bank bought a new stake in shares of Sonic Drive-In in the 4th quarter worth approximately $275,000. SG Americas Securities LLC grew its position in shares of Sonic Drive-In by 117.1% in the 3rd quarter. SG Americas Securities LLC now owns 11,418 shares of the restaurant operator’s stock worth $291,000 after buying an additional 6,159 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in shares of Sonic Drive-In by 2,344.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 15,329 shares of the restaurant operator’s stock worth $390,000 after buying an additional 14,702 shares during the last quarter.

How to Become a New Pot Stock Millionaire

NASDAQ SONC opened at $26.23 on Monday. The company has a debt-to-equity ratio of -2.85, a quick ratio of 1.81 and a current ratio of 2.51. Sonic Drive-In has a twelve month low of $22.11 and a twelve month high of $30.05. The company has a market cap of $974.58, a P/E ratio of 20.98, a PEG ratio of 1.22 and a beta of 1.47.

Sonic Drive-In (NASDAQ:SONC) last released its quarterly earnings results on Tuesday, March 27th. The restaurant operator reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Sonic Drive-In had a negative return on equity of 25.75% and a net margin of 16.01%. The company had revenue of $88.10 million for the quarter, compared to analyst estimates of $94.34 million. During the same period in the previous year, the company posted $0.15 earnings per share. The firm’s revenue was down 12.1% on a year-over-year basis. research analysts predict that Sonic Drive-In will post 1.47 EPS for the current fiscal year.

In related news, Director Federico F. Pena sold 9,686 shares of Sonic Drive-In stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $24.61, for a total transaction of $238,372.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Federico F. Pena sold 4,575 shares of Sonic Drive-In stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $25.99, for a total value of $118,904.25. The disclosure for this sale can be found here. Insiders own 6.24% of the company’s stock.

A number of brokerages have recently weighed in on SONC. Zacks Investment Research upgraded Sonic Drive-In from a “sell” rating to a “hold” rating in a research report on Wednesday, March 28th. Canaccord Genuity cut their price objective on Sonic Drive-In from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Wednesday, March 28th. Cowen cut their price objective on Sonic Drive-In from $29.00 to $28.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 28th. Barclays cut their price objective on Sonic Drive-In from $28.00 to $25.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 28th. Finally, Morgan Stanley cut their price objective on Sonic Drive-In from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Monday, March 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. Sonic Drive-In presently has an average rating of “Hold” and an average target price of $28.67.

COPYRIGHT VIOLATION WARNING: This piece was published by Ticker Report and is owned by of Ticker Report. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3342475/alliancebernstein-l-p-sells-2300-shares-of-sonic-drive-in-sonc.html.

Sonic Drive-In Company Profile

Sonic Corp. operates and franchises a chain of quick-service drive-in restaurants in the United States. As of August 31, 2017, the company operated 3,593 Sonic Drive-Ins in 45 states, of which 228 were owned and operated by the company and 3,365 were owned and operated by franchisees. The company also owns and leases 135 properties; and sublease 53 properties to franchisees and other parties.

Want to see what other hedge funds are holding SONC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sonic Drive-In (NASDAQ:SONC).

Institutional Ownership by Quarter for Sonic Drive-In (NASDAQ:SONC)

Receive News & Ratings for Sonic Drive-In Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonic Drive-In and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Head to Head Comparison: Commercial Metals  & Titan International
Head to Head Comparison: Commercial Metals & Titan International
Match Group  Expected to Post Quarterly Sales of $386.66 Million
Match Group Expected to Post Quarterly Sales of $386.66 Million
Financial Analysis: Sharps Compliance  & Clean Harbors
Financial Analysis: Sharps Compliance & Clean Harbors
Flaherty & Crumrine  Receives Media Sentiment Rating of 0.00
Flaherty & Crumrine Receives Media Sentiment Rating of 0.00
Head-To-Head Analysis: Suez Environnement  & Profire Energy
Head-To-Head Analysis: Suez Environnement & Profire Energy
EmberCoin  Price Reaches $0.0000
EmberCoin Price Reaches $0.0000


Leave a Reply

© 2006-2018 Ticker Report. Google+.