Public Sector Pension Investment Board raised its stake in Sonic Automotive, Inc. (NYSE:SAH – Free Report) by 6.1% during the second quarter, Holdings Channel reports. The fund owned 32,718 shares of the company’s stock after buying an additional 1,876 shares during the period. Public Sector Pension Investment Board’s holdings in Sonic Automotive were worth $1,782,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in Sonic Automotive in the first quarter valued at about $30,000. Innealta Capital LLC bought a new stake in shares of Sonic Automotive in the second quarter valued at approximately $41,000. AM Squared Ltd bought a new stake in shares of Sonic Automotive in the second quarter valued at approximately $82,000. TFO Wealth Partners LLC raised its position in shares of Sonic Automotive by 35,366.7% in the fourth quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock valued at $120,000 after purchasing an additional 2,122 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Sonic Automotive in the second quarter valued at approximately $228,000. 46.92% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Sonic Automotive
In other news, CFO Heath Byrd sold 19,827 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $60.00, for a total value of $1,189,620.00. Following the transaction, the chief financial officer now owns 173,618 shares of the company’s stock, valued at approximately $10,417,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 40.95% of the company’s stock.
Analyst Ratings Changes
Check Out Our Latest Stock Report on SAH
Sonic Automotive Price Performance
Shares of NYSE:SAH opened at $58.48 on Tuesday. The company’s fifty day moving average price is $58.51 and its 200-day moving average price is $56.42. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 11.98 and a beta of 1.61. Sonic Automotive, Inc. has a one year low of $41.19 and a one year high of $64.68. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.10 and a quick ratio of 0.36.
Sonic Automotive (NYSE:SAH – Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.09. The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.56 billion. Sonic Automotive had a net margin of 1.35% and a return on equity of 25.31%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.83 EPS. On average, equities research analysts anticipate that Sonic Automotive, Inc. will post 5.79 earnings per share for the current fiscal year.
Sonic Automotive Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, September 13th. Sonic Automotive’s payout ratio is 24.59%.
Sonic Automotive Company Profile
Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products for its guests.
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