Alliancebernstein L.P. held its position in Sonic Automotive, Inc. (NYSE:SAH) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,113 shares of the company’s stock at the end of the 2nd quarter. Alliancebernstein L.P. owned approximately 0.08% of Sonic Automotive worth $722,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of SAH. Victory Capital Management Inc. increased its holdings in shares of Sonic Automotive by 20.4% in the 1st quarter. Victory Capital Management Inc. now owns 4,976 shares of the company’s stock worth $100,000 after buying an additional 844 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Sonic Automotive by 78.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,153 shares of the company’s stock worth $100,000 after buying an additional 2,263 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Sonic Automotive by 4.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 8,891 shares of the company’s stock worth $178,000 after buying an additional 410 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Sonic Automotive by 48.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,359 shares of the company’s stock worth $182,000 after buying an additional 3,068 shares during the last quarter. Finally, Karp Capital Management Corp bought a new stake in shares of Sonic Automotive in the 1st quarter worth about $211,000. Hedge funds and other institutional investors own 63.72% of the company’s stock.
Several brokerages recently commented on SAH. TheStreet upgraded shares of Sonic Automotive from a “c+” rating to a “b” rating in a report on Wednesday, October 18th. Bank of America Corporation downgraded shares of Sonic Automotive from a “neutral” rating to an “underperform” rating in a report on Thursday, October 19th. Zacks Investment Research upgraded shares of Sonic Automotive from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. KeyCorp reiterated a “hold” rating on shares of Sonic Automotive in a report on Friday, September 1st. Finally, BidaskClub downgraded shares of Sonic Automotive from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Sonic Automotive has an average rating of “Hold” and a consensus price target of $21.75.
Sonic Automotive (NYSE:SAH) last issued its earnings results on Tuesday, October 24th. The company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. Sonic Automotive had a net margin of 0.70% and a return on equity of 10.47%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. Sonic Automotive’s quarterly revenue was down 2.0% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Thursday, December 14th. Sonic Automotive’s dividend payout ratio (DPR) is presently 13.07%.
In other Sonic Automotive news, EVP Jeff Dyke sold 8,551 shares of Sonic Automotive stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $20.10, for a total transaction of $171,875.10. Following the transaction, the executive vice president now directly owns 1,262,056 shares of the company’s stock, valued at $25,367,325.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Heath Byrd sold 11,000 shares of Sonic Automotive stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $20.43, for a total transaction of $224,730.00. Following the transaction, the chief financial officer now directly owns 143,306 shares in the company, valued at $2,927,741.58. The disclosure for this sale can be found here. 30.29% of the stock is owned by insiders.
Sonic Automotive Profile
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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