Cambiar Investors LLC held its stake in shares of Sonic Automotive Inc. (NYSE:SAH) during the second quarter, Holdings Channel reports. The institutional investor owned 25,950 shares of the company’s stock at the end of the second quarter. Cambiar Investors LLC’s holdings in Sonic Automotive were worth $444,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the company. HBK Investments L P bought a new stake in shares of Sonic Automotive during the first quarter valued at $985,000. Menta Capital LLC acquired a new stake in Sonic Automotive during the first quarter worth approximately $410,000. A.R.T. Advisors LLC acquired a new stake in Sonic Automotive during the first quarter worth approximately $867,000. Renaissance Technologies LLC boosted its stake in Sonic Automotive by 445.5% in the first quarter. Renaissance Technologies LLC now owns 156,000 shares of the company’s stock worth $2,883,000 after buying an additional 127,400 shares during the period. Finally, BlackRock Group LTD boosted its stake in Sonic Automotive by 3.9% in the first quarter. BlackRock Group LTD now owns 75,901 shares of the company’s stock worth $1,402,000 after buying an additional 2,846 shares during the period. 65.88% of the stock is currently owned by institutional investors.
Shares of Sonic Automotive Inc. (NYSE:SAH) traded up 0.58% on Tuesday, reaching $19.01. 306,757 shares of the company were exchanged. Sonic Automotive Inc. has a 52-week low of $15.68 and a 52-week high of $25.77. The company has a market capitalization of $863.95 million, a P/E ratio of 9.67 and a beta of 1.81. The stock has a 50 day moving average of $17.52 and a 200-day moving average of $17.58.
Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. Sonic Automotive had a net margin of 0.99% and a return on equity of 14.65%. The firm earned $2.38 billion during the quarter, compared to analysts’ expectations of $2.48 billion. During the same period in the previous year, the company earned $0.46 earnings per share. Sonic Automotive’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, analysts predict that Sonic Automotive Inc. will post $2.10 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 15th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.05%. Sonic Automotive’s dividend payout ratio (DPR) is presently 10.26%.
Separately, Zacks Investment Research cut Sonic Automotive from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th.
In related news, insider O Bruton Smith purchased 50,000 shares of Sonic Automotive stock in a transaction that occurred on Wednesday, August 24th. The stock was purchased at an average cost of $16.83 per share, with a total value of $841,500.00. Following the completion of the transaction, the insider now directly owns 525,242 shares in the company, valued at $8,839,822.86. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 29.32% of the stock is currently 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.
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