Sonic Corp (NASDAQ:SONC) Institutional Investors Quarterly Sentiment

November 7, 2017 - By Ellis Scott

 Sonic Corp (NASDAQ:SONC) Institutional Investors Quarterly Sentiment

Sentiment for Sonic Corp (NASDAQ:SONC)

Sonic Corp (NASDAQ:SONC) institutional sentiment increased to 0.94 in Q2 2017. Its up 0.03, from 0.91 in 2017Q1. The ratio increased, as 74 hedge funds opened new or increased holdings, while 79 sold and decreased their holdings in Sonic Corp. The hedge funds in our partner’s database now own: 47.84 million shares, up from 46.95 million shares in 2017Q1. Also, the number of hedge funds holding Sonic Corp in their top 10 holdings was flat from 0 to 0 for the same number . Sold All: 23 Reduced: 56 Increased: 43 New Position: 31.

Sonic Corp. operates and franchises the chain of drive-thru restaurants in the United States. The company has market cap of $968.02 million. 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 16.48 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.

About 291,910 shares traded. Sonic Corporation (NASDAQ:SONC) has declined 5.36% since November 7, 2016 and is downtrending. It has underperformed by 22.06% the S&P500.

Ranger Investment Management L.P. holds 1.89% of its portfolio in Sonic Corporation for 998,151 shares. Southeastern Asset Management Inc Tn owns 6.44 million shares or 1.87% of their US portfolio. Moreover, Pembroke Management Ltd has 0.91% invested in the company for 384,600 shares. The New York-based Fenimore Asset Management Inc has invested 0.88% in the stock. Malaga Cove Capital Llc, a California-based fund reported 42,250 shares.#img1#

Since January 1, 0001, it had 0 insider buys, and 1 insider sale for $1.41 million activity.

Sonic Corporation (NASDAQ:SONC) Ratings Coverage

Ratings analysis reveals 38% of Sonic’s analysts are positive. Out of 16 Wall Street analysts rating Sonic, 6 give it “Buy”, 2 “Sell” rating, while 8 recommend “Hold”. The lowest target is $2 while the high is $37.0. The stock’s average target of $27.47 is 14.22% above today’s ($24.05) share price. SONC was included in 39 notes of analysts from August 25, 2015. On Tuesday, August 25 the stock rating was upgraded by Zacks to “Hold”. Oppenheimer maintained the shares of SONC in report on Friday, June 23 with “Buy” rating. Jefferies maintained Sonic Corporation (NASDAQ:SONC) rating on Friday, June 24. Jefferies has “Hold” rating and $32 target. The firm has “Neutral” rating given on Friday, December 2 by Longbow. On Monday, March 20 the stock rating was downgraded by Canaccord Genuity to “Hold”. Telsey Advisory Group maintained the stock with “Outperform” rating in Tuesday, October 20 report. The firm earned “Hold” rating on Wednesday, September 28 by Jefferies. Jefferies maintained Sonic Corporation (NASDAQ:SONC) on Tuesday, June 13 with “Hold” rating. The firm has “Buy” rating given on Monday, July 24 by Piper Jaffray. The stock of Sonic Corporation (NASDAQ:SONC) earned “Hold” rating by Canaccord Genuity on Wednesday, June 21.

Another recent and important Sonic Corporation (NASDAQ:SONC) news was published by Finance.Yahoo.com which published an article titled: “3 Stocks to Watch on Tuesday: Celanese Corporation (CE), IDEX Corporation (IEX …” on October 17, 2017.

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