Sonic Corp Stock in 2016 Q4 Driven by Institutional Investors

July 18, 2017 - By Hazel Jackson

 Sonic Corp Stock  in  2016 Q4 Driven by Institutional Investors

Sentiment for Sonic Corp (NASDAQ:SONC)

Sonic Corp (NASDAQ:SONC) institutional sentiment decreased to 0.8 in Q4 2016. Its down -0.06, from 0.86 in 2016Q3. The ratio fall, as 82 active investment managers increased and opened new positions, while 103 reduced and sold equity positions in Sonic Corp. The active investment managers in our partner’s database now have: 43.53 million shares, down from 47.34 million shares in 2016Q3. Also, the number of active investment managers holding Sonic Corp in their top 10 positions decreased from 1 to 0 for a decrease of 1. Sold All: 31 Reduced: 72 Increased: 45 New Position: 37.

Sonic Corp. operates and franchises the chain of drive-thru restaurants in the United States. The company has market cap of $1.08 billion. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. It has a 17.69 P/E ratio. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board.

The stock increased 0.31% or $0.08 during the last trading session, reaching $25.84. About shares traded. Sonic Corporation (NASDAQ:SONC) has declined 5.36% since July 18, 2016 and is downtrending. It has underperformed by 22.06% the S&P500.

Clearline Capital Lp holds 3.35% of its portfolio in Sonic Corporation for 278,543 shares. Ranger Investment Management L.P. owns 1.09 million shares or 2.05% of their US portfolio. Moreover, Southeastern Asset Management Inc Tn has 1.19% invested in the company for 4.65 million shares. The Quebec – Canada-based Pembroke Management Ltd has invested 1.07% in the stock. Malaga Cove Capital Llc, a California-based fund reported 42,359 shares.#img1#

Since January 1, 0001, it had 0 insider purchases, and 2 selling transactions for $1.48 million activity.

Sonic Corporation (NASDAQ:SONC) Ratings Coverage

Ratings analysis reveals 31% of Sonic’s analysts are positive. Out of 13 Wall Street analysts rating Sonic, 4 give it “Buy”, 2 “Sell” rating, while 7 recommend “Hold”. The lowest target is $2 while the high is $37.0. The stock’s average target of $27.21 is 5.30% above today’s ($25.84) share price. SONC was included in 33 notes of analysts from August 25, 2015. Barclays Capital maintained Sonic Corporation (NASDAQ:SONC) on Friday, June 24 with “Underweight” rating. Bank of America downgraded the shares of SONC in report on Tuesday, June 13 to “Underperform” rating. The firm has “Outperform” rating by Telsey Advisory Group given on Tuesday, October 20. The rating was maintained by UBS with “Neutral” on Wednesday, March 30. The firm earned “Buy” rating on Friday, June 23 by Oppenheimer. Zacks upgraded it to “Hold” rating and $30 target in Tuesday, August 25 report. The firm earned “Neutral” rating on Tuesday, September 20 by UBS. Telsey Advisory Group maintained Sonic Corporation (NASDAQ:SONC) rating on Wednesday, September 7. Telsey Advisory Group has “Outperform” rating and $36 target. Telsey Advisory Group maintained the stock with “Outperform” rating in Wednesday, January 6 report. The firm has “Underweight” rating given on Wednesday, September 28 by Barclays Capital.

More notable recent Sonic Corporation (NASDAQ:SONC) news were published by: Benzinga.com which released: “Despite Choppy Sales, Sonic’s Q3 Proves Fundamentals Are Getting Better” on June 23, 2017, also Benzinga.com with their article: “Benzinga’s Option Alert Recap From July 5” published on July 05, 2017, Investorplace.com published: “3 Stocks to Watch on Friday: Bed Bath & Beyond Inc. (BBBY), Sonic Corporation …” on June 23, 2017. More interesting news about Sonic Corporation (NASDAQ:SONC) were released by: Fool.com and their article: “Why Sonic Corporation Stock Is Getting a Lift Today” published on March 29, 2017 as well as Benzinga.com‘s news article titled: “Sonic’s Solid Q3 A Testament To Its Return To Core Strengths” with publication date: June 23, 2017.

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