Two Sigma Advisers LP bought a new position in shares of Lithia Motors Inc (NYSE:LAD) in the 4th quarter, HoldingsChannel reports. The fund bought 10,239 shares of the company’s stock, valued at approximately $782,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Texas Permanent School Fund boosted its stake in shares of Lithia Motors by 1.0% during the fourth quarter. Texas Permanent School Fund now owns 14,743 shares of the company’s stock worth $1,125,000 after buying an additional 142 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Lithia Motors by 14.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,822 shares of the company’s stock worth $139,000 after buying an additional 230 shares during the period. Bank of Montreal Can boosted its stake in shares of Lithia Motors by 65.8% during the fourth quarter. Bank of Montreal Can now owns 1,096 shares of the company’s stock worth $84,000 after buying an additional 435 shares during the period. Stone Ridge Asset Management LLC boosted its stake in shares of Lithia Motors by 17.5% during the fourth quarter. Stone Ridge Asset Management LLC now owns 3,034 shares of the company’s stock worth $232,000 after buying an additional 452 shares during the period. Finally, Commonwealth Bank of Australia boosted its stake in shares of Lithia Motors by 16.2% during the fourth quarter. Commonwealth Bank of Australia now owns 4,300 shares of the company’s stock worth $328,000 after buying an additional 600 shares during the period.
In related news, CEO Bryan B. Deboer sold 3,835 shares of the stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $90.00, for a total transaction of $345,150.00. Following the completion of the transaction, the chief executive officer now directly owns 153,285 shares of the company’s stock, valued at $13,795,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan O. Cain sold 1,462 shares of the stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $87.15, for a total transaction of $127,413.30. Following the transaction, the director now directly owns 10,849 shares of the company’s stock, valued at $945,490.35. The disclosure for this sale can be found here. Corporate insiders own 5.21% of the company’s stock.
NYSE LAD opened at $97.50 on Wednesday. The stock has a market cap of $2.22 billion, a P/E ratio of 9.77, a PEG ratio of 1.12 and a beta of 1.19. Lithia Motors Inc has a 52-week low of $67.90 and a 52-week high of $105.64. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.20 and a quick ratio of 0.25.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, February 13th. The company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.12. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Lithia Motors had a net margin of 2.25% and a return on equity of 20.82%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.15 earnings per share. As a group, sell-side analysts predict that Lithia Motors Inc will post 10.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.29 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.16 annualized dividend and a yield of 1.19%. Lithia Motors’s dividend payout ratio is currently 11.62%.
Several equities research analysts have recently weighed in on LAD shares. TheStreet upgraded shares of Lithia Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, January 29th. Zacks Investment Research upgraded shares of Lithia Motors from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Tuesday, January 15th. Seaport Global Securities started coverage on shares of Lithia Motors in a research note on Wednesday, February 13th. They set a “buy” rating and a $110.00 target price for the company. JPMorgan Chase & Co. started coverage on shares of Lithia Motors in a research note on Tuesday, February 19th. They set an “overweight” rating and a $112.00 target price for the company. Finally, Morgan Stanley increased their target price on shares of Lithia Motors from $99.00 to $104.00 and gave the stock an “overweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $105.71.
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Lithia Motors Company Profile
Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.
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