Swiss National Bank lowered its stake in Sonic Automotive Inc. (NYSE:SAH) by 8.1% during the second quarter, Holdings Channel reports. The institutional investor owned 50,200 shares of the company’s stock after selling 4,400 shares during the period. Swiss National Bank owned approximately 0.11% of Sonic Automotive worth $859,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Suntrust Banks Inc. boosted its stake in Sonic Automotive by 16.1% in the second quarter. Suntrust Banks Inc. now owns 100,235 shares of the company’s stock valued at $1,714,000 after buying an additional 13,874 shares in the last quarter. Selway Asset Management bought a new stake in Sonic Automotive during the second quarter valued at approximately $274,000. Chicago Equity Partners LLC boosted its stake in Sonic Automotive by 29.9% in the second quarter. Chicago Equity Partners LLC now owns 129,465 shares of the company’s stock valued at $2,215,000 after buying an additional 29,820 shares in the last quarter. Bank of Montreal Can bought a new stake in Sonic Automotive during the second quarter valued at approximately $431,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Sonic Automotive by 82.7% in the second quarter. BNP Paribas Arbitrage SA now owns 10,444 shares of the company’s stock valued at $179,000 after buying an additional 4,726 shares in the last quarter. Institutional investors and hedge funds own 65.88% of the company’s stock.
Shares of Sonic Automotive Inc. (NYSE:SAH) traded up 0.16% during mid-day trading on Friday, reaching $19.23. The company’s stock had a trading volume of 73,701 shares. The company has a 50-day moving average of $17.64 and a 200-day moving average of $17.60. The firm has a market cap of $873.95 million, a PE ratio of 9.78 and a beta of 1.81. Sonic Automotive Inc. has a 12 month low of $15.68 and a 12 month high of $25.77.
Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.48 billion. Sonic Automotive had a return on equity of 14.65% and a net margin of 0.99%. Sonic Automotive’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. On average, analysts predict that Sonic Automotive Inc. will post $2.10 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 15th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, September 13th. Sonic Automotive’s dividend payout ratio (DPR) is presently 10.26%.
Separately, Zacks Investment Research upgraded shares of Sonic Automotive from a “sell” rating to a “hold” rating in a report on Monday.
In other Sonic Automotive news, insider O Bruton Smith acquired 50,000 shares of Sonic Automotive stock in a transaction that occurred on Wednesday, August 24th. The shares were acquired at an average cost of $16.83 per share, with a total value of $841,500.00. Following the completion of the purchase, the insider now directly owns 525,242 shares of the company’s stock, valued at approximately $8,839,822.86. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 29.32% of the stock is owned by corporate insiders.
Sonic Automotive Company Profile
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. The Company’s Franchised Dealerships segment consists of traditional retail automotive franchises that sell new and used vehicles, replacement parts and vehicle repair and maintenance services, and finance and insurance products.