Karp Capital Management Corp bought a new position in shares of Sonic Automotive during the first quarter worth about $211,000. Bank of New York Mellon Corp now owns 835,575 shares of the company's stock worth $16,753,000 after buying an additional 335,459 shares during the period. Victory Capital Management Inc. boosted its position in shares of Sonic Automotive by 20.4% in the first quarter.
New York State Teachers Retirement System reduced its position in Sonic Automotive, Inc. As of the end of the quarter Russell Investments Group, Ltd. had acquired 3,809 shares growing its position 13.8%. Parametric Portfolio Associates LLC now owns 190,567 shares of the company's stock valued at $3,821,000 after buying an additional 6,751 shares during the period. Institutional investors own 63.21% of the company's stock. (SAH) opened at 19.35 on Friday.
The stock is trading at $18.95 which is slightly above the 50 day moving average of $18.92 and which is slightly below the 200 day moving average of $20.40.
Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Friday, July 28th. The company reported $0.23 EPS for the quarter, meeting analysts' consensus estimates of $0.23.
The auto dealer posted revenue of $2.41 billion in the period. Zurcher Kantonalbank (Zurich Cantonalbank) owns 0% invested in Sonic Automotive Inc (NYSE:SAH) for 776 shares. The company's quarterly revenue was up 2.4% on a year-over-year basis.
Shares of Sonic Automotive, Inc. closed the previous trading session at 19.00 up +0.05 0.26% with 357,619 shares trading hands.
The company said its board has approved a quarterly dividend of $0.05 in cash for stockholders of record on September 15, payable October 13, 2017. Louisiana State Employees Retirement System boosted its stake in shares of Sonic Automotive by 0.9% in the first quarter. This represents a $0.20 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, September 14th.
02/23/2017 - Sonic Automotive, Inc. was downgraded to "neutral" by analysts at Bank of America Merrill Lynch.
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Analysts expect Sonic Automotive, (NYSE:SAH) to study $0.48 EPS (EPS) for the present financial period, Research Firm Zacks reports.
A number of research firms have recently issued reports on SAH. Jefferies Group LLC reaffirmed a "hold" rating and set a $22.00 target price on shares of Sonic Automotive in a research report on Wednesday, July 19th. ValuEngine lowered Sonic Automotive from a "strong-buy" rating to a "buy" rating in a report on Friday, June 2nd. Lastly, TheStreet lowered Sonic Automotive from a "b" recommendation to a "c+" recommendation in a analysis note on Tue, May 30th. Finally, Morgan Stanley dropped their target price on shares of Sonic Automotive from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Friday, June 9th. Finally, BidaskClub cut shares of Sonic Automotive from a hold rating to a sell rating in a research report on Friday. The company has an average rating of "Hold" and a consensus price target of $21.75.
Total shares held by institutions as of the most recent company filings are 28,810,352 with a reported 1,120,531 bought and 2,356,847 sold. Following the purchase, the insider now directly owns 676,609 shares in the company, valued at approximately $12,551,096.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company.
The biggest institutional shareholders in Sonic Automotive, Inc. include Dimensional Fund Advisors, Inc. which owns 3 million shares in the company valued at $58.25 million.