Nisa Investment Advisors LLC lowered its position in Sonic Automotive, Inc. (NYSE:SAH) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,200 shares of the company’s stock after selling 1,000 shares during the period. Nisa Investment Advisors LLC’s holdings in Sonic Automotive were worth $510,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in SAH. Teachers Advisors LLC raised its position in shares of Sonic Automotive by 29.1% in the fourth quarter. Teachers Advisors LLC now owns 82,309 shares of the company’s stock worth $1,885,000 after buying an additional 18,571 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Sonic Automotive by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the company’s stock worth $215,000 after buying an additional 100 shares in the last quarter. Sanders Morris Harris Inc. bought a new position in shares of Sonic Automotive during the first quarter worth approximately $1,491,000. Nationwide Fund Advisors raised its position in shares of Sonic Automotive by 7.4% in the first quarter. Nationwide Fund Advisors now owns 70,694 shares of the company’s stock worth $1,417,000 after buying an additional 4,885 shares in the last quarter. Finally, Strs Ohio raised its position in shares of Sonic Automotive by 195.0% in the first quarter. Strs Ohio now owns 35,400 shares of the company’s stock worth $709,000 after buying an additional 23,400 shares in the last quarter. 63.25% of the stock is owned by institutional investors and hedge funds.
Shares of Sonic Automotive, Inc. (NYSE:SAH) traded down 1.47% on Thursday, hitting $16.75. 87,450 shares of the stock were exchanged. The firm has a market capitalization of $734.67 million, a PE ratio of 11.27 and a beta of 1.51. Sonic Automotive, Inc. has a one year low of $16.50 and a one year high of $27.45. The company has a 50-day moving average price of $18.59 and a 200-day moving average price of $20.02.
Sonic Automotive (NYSE:SAH) last posted its earnings results on Friday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by $0.06. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.44 billion. Sonic Automotive had a return on equity of 11.14% and a net margin of 0.69%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 EPS. Equities research analysts expect that Sonic Automotive, Inc. will post $1.86 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Thursday, September 14th. Sonic Automotive’s dividend payout ratio is presently 13.42%.
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A number of research analysts have recently commented on SAH shares. Jefferies Group LLC reaffirmed a “hold” rating and set a $22.00 price objective on shares of Sonic Automotive in a research report on Wednesday, May 3rd. TheStreet lowered shares of Sonic Automotive from a “b” rating to a “c+” rating in a research report on Tuesday, May 30th. ValuEngine lowered shares of Sonic Automotive from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Morgan Stanley cut their price objective on shares of Sonic Automotive from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Finally, BidaskClub lowered shares of Sonic Automotive from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Sonic Automotive has an average rating of “Hold” and an average price target of $21.75.
About Sonic Automotive
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
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