Chicago Equity Partners LLC cut its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 27.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 85,130 shares of the company’s stock after selling 32,965 shares during the period. Chicago Equity Partners LLC owned 0.19% of Sonic Automotive worth $1,656,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. raised its holdings in Sonic Automotive by 20.4% in the 1st quarter. Victory Capital Management Inc. now owns 4,976 shares of the company’s stock valued at $100,000 after acquiring an additional 844 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Sonic Automotive by 78.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,153 shares of the company’s stock valued at $100,000 after acquiring an additional 2,263 shares during the last quarter. Mason Street Advisors LLC raised its holdings in Sonic Automotive by 7.1% in the 1st quarter. Mason Street Advisors LLC now owns 6,146 shares of the company’s stock valued at $123,000 after acquiring an additional 405 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Sonic Automotive by 4.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 8,891 shares of the company’s stock valued at $178,000 after acquiring an additional 410 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in Sonic Automotive by 48.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,359 shares of the company’s stock valued at $182,000 after acquiring an additional 3,068 shares during the last quarter. Institutional investors own 63.82% of the company’s stock.

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Shares of Sonic Automotive, Inc. (SAH) opened at 17.85 on Thursday. Sonic Automotive, Inc. has a 12-month low of $15.95 and a 12-month high of $27.45. The stock’s 50 day moving average price is $17.60 and its 200-day moving average price is $19.14. The firm has a market capitalization of $782.92 million, a P/E ratio of 12.01 and a beta of 1.50.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Friday, July 28th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by $0.06. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.44 billion. Sonic Automotive had a net margin of 0.69% and a return on equity of 11.14%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 EPS. On average, equities analysts expect that Sonic Automotive, Inc. will post $1.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.12%. Sonic Automotive’s dividend payout ratio is currently 13.42%.

SAH has been the subject of several analyst reports. TheStreet downgraded Sonic Automotive from a “b” rating to a “c+” rating in a report on Tuesday, May 30th. BidaskClub downgraded Sonic Automotive from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. KeyCorp reiterated a “hold” rating on shares of Sonic Automotive in a report on Friday, September 1st. ValuEngine downgraded Sonic Automotive from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $22.00 price target on shares of Sonic Automotive in a report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.75.

Sonic Automotive Profile

Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.

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Institutional Ownership by Quarter for Sonic Automotive (NYSE:SAH)

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