Hotchkis & Wiley Capital Management LLC lowered its position in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 5.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 824,686 shares of the company's stock after selling 51,220 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 2.41% of Sonic Automotive worth $48,228,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SAH. Innealta Capital LLC purchased a new stake in Sonic Automotive during the 2nd quarter worth approximately $41,000. Point72 Asia Singapore Pte. Ltd. grew its stake in Sonic Automotive by 100.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company's stock worth $70,000 after purchasing an additional 599 shares in the last quarter. AM Squared Ltd bought a new stake in Sonic Automotive in the second quarter valued at about $82,000. Point72 DIFC Ltd raised its stake in Sonic Automotive by 6.9% during the second quarter. Point72 DIFC Ltd now owns 2,900 shares of the company's stock valued at $158,000 after buying an additional 187 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Sonic Automotive during the 2nd quarter worth approximately $228,000. 46.92% of the stock is owned by hedge funds and other institutional investors.
Sonic Automotive Price Performance
SAH traded down $0.21 during trading on Tuesday, reaching $69.11. The stock had a trading volume of 111,574 shares, compared to its average volume of 194,666. Sonic Automotive, Inc. has a 1-year low of $47.82 and a 1-year high of $70.88. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 12.28 and a beta of 1.65. The stock has a 50 day moving average of $60.23 and a two-hundred day moving average of $58.29. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87.
Sonic Automotive (NYSE:SAH - Get Free Report) last released its earnings results on Thursday, October 24th. The company reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.17). The business had revenue of $3.49 billion during the quarter, compared to analysts' expectations of $3.55 billion. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. Sonic Automotive's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.02 EPS. As a group, equities analysts anticipate that Sonic Automotive, Inc. will post 5.6 EPS for the current fiscal year.
Sonic Automotive Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a $0.35 dividend. This is an increase from Sonic Automotive's previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, December 13th. Sonic Automotive's dividend payout ratio (DPR) is currently 21.35%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on SAH shares. Stephens started coverage on Sonic Automotive in a research report on Thursday, September 12th. They set an "equal weight" rating and a $64.00 price target on the stock. Seaport Res Ptn upgraded shares of Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price objective on shares of Sonic Automotive from $63.00 to $75.00 and gave the company an "overweight" rating in a research report on Tuesday, September 10th. Bank of America lowered their target price on Sonic Automotive from $67.00 to $66.00 and set a "buy" rating for the company in a report on Monday, October 14th. Finally, Morgan Stanley upgraded Sonic Automotive from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $40.00 to $58.00 in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $67.40.
View Our Latest Stock Report on Sonic Automotive
Sonic Automotive Company Profile
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Free Report)
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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