Airain ltd bought a new stake in shares of Lithia Motors Inc (NYSE:LAD) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 6,752 shares of the company’s stock, valued at approximately $578,000.
A number of other institutional investors have also bought and sold shares of LAD. SG Americas Securities LLC acquired a new position in Lithia Motors during the third quarter valued at $311,000. California State Teachers Retirement System increased its position in Lithia Motors by 0.8% in the third quarter. California State Teachers Retirement System now owns 50,314 shares of the company’s stock valued at $4,806,000 after buying an additional 400 shares during the period. Northern Trust Corp increased its position in Lithia Motors by 4.6% in the third quarter. Northern Trust Corp now owns 341,780 shares of the company’s stock valued at $32,646,000 after buying an additional 14,880 shares during the period. Principal Financial Group Inc. increased its position in Lithia Motors by 2.2% in the third quarter. Principal Financial Group Inc. now owns 174,598 shares of the company’s stock valued at $16,678,000 after buying an additional 3,761 shares during the period. Finally, Lakewood Capital Management LP acquired a new position in Lithia Motors during the third quarter valued at $61,644,000. Hedge funds and other institutional investors own 97.16% of the company’s stock.
Lithia Motors Inc (NYSE:LAD) traded up 1.56% during midday trading on Friday, hitting $91.80. 109,277 shares of the company’s stock traded hands. Lithia Motors Inc has a 52 week low of $68.70 and a 52 week high of $105.32. The company has a 50 day moving average of $90.14 and a 200-day moving average of $93.76. The company has a market capitalization of $2.30 billion, a PE ratio of 11.21 and a beta of 1.71.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, April 19th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.01. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. Lithia Motors had a return on equity of 22.67% and a net margin of 2.31%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.55 EPS. Equities research analysts predict that Lithia Motors Inc will post $8.32 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Friday, May 12th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.18%. The ex-dividend date was Wednesday, May 10th. This is an increase from Lithia Motors’s previous quarterly dividend of $0.25. Lithia Motors’s payout ratio is presently 13.33%.
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Several equities analysts have weighed in on LAD shares. Zacks Investment Research upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Monday, January 30th. Susquehanna Bancshares Inc assumed coverage on shares of Lithia Motors in a report on Wednesday, February 1st. They set a “neutral” rating and a $104.00 target price for the company. Finally, Jefferies Group LLC set a $115.00 price target on shares of Lithia Motors and gave the stock a “buy” rating in a research note on Thursday, March 16th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $109.25.
In other Lithia Motors news, Director Sidney B. Deboer sold 35,000 shares of Lithia Motors stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $97.00, for a total transaction of $3,395,000.00. Following the transaction, the director now owns 79,625 shares of the company’s stock, valued at approximately $7,723,625. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sidney B. Deboer sold 894 shares of Lithia Motors stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $94.90, for a total value of $84,840.60. Following the transaction, the director now directly owns 29,041 shares in the company, valued at approximately $2,755,990.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,898 shares of company stock worth $6,052,005. Corporate insiders own 11.41% of the company’s stock.
About Lithia Motors
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.
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