AlphaCrest Capital Management LLC purchased a new stake in Lithia Motors Inc (NYSE:LAD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,500 shares of the company’s stock, valued at approximately $954,000. AlphaCrest Capital Management LLC owned approximately 0.05% of Lithia Motors at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in LAD. Bank of Montreal Can lifted 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 valued at $84,000 after buying an additional 435 shares during the period. Quattro Financial Advisors LLC purchased a new position in shares of Lithia Motors during the fourth quarter valued at approximately $85,000. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 valued at $139,000 after buying an additional 230 shares during the period. MML Investors Services LLC purchased a new position in shares of Lithia Motors during the third quarter valued at approximately $231,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Lithia Motors during the third quarter valued at approximately $234,000.
In other news, Director Susan O. Cain sold 1,462 shares of the stock in a transaction on Friday, February 15th. The shares were sold at an average price of $87.15, for a total value of $127,413.30. Following the completion of the sale, the director now owns 10,849 shares of the company’s stock, valued at $945,490.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bryan B. Deboer sold 3,835 shares of the stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $90.00, for a total transaction of $345,150.00. Following the completion of the sale, the chief executive officer now directly owns 153,285 shares of the company’s stock, valued at approximately $13,795,650. The disclosure for this sale can be found here. 6.18% of the stock is owned by corporate insiders.
A number of research firms have weighed in on LAD. Zacks Investment Research downgraded shares of Lithia Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. ValuEngine downgraded shares of Lithia Motors from a “sell” rating to a “strong sell” rating in a research note on Wednesday, February 13th. Morgan Stanley increased their price target on shares of Lithia Motors from $107.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, November 14th. Finally, JPMorgan Chase & Co. began coverage on shares of Lithia Motors in a research note on Tuesday, February 19th. They set an “overweight” rating and a $112.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $106.29.
Lithia Motors stock opened at $90.27 on Friday. Lithia Motors Inc has a 52-week low of $67.90 and a 52-week high of $109.07. The firm has a market capitalization of $2.10 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 1.04 and a beta of 1.24. The company has a quick ratio of 0.25, a current ratio of 1.20 and a debt-to-equity ratio of 1.13.
Lithia Motors (NYSE:LAD) last released its quarterly earnings data 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. Lithia Motors had a net margin of 2.25% and a return on equity of 20.82%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the business earned $2.15 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts anticipate that Lithia Motors Inc will post 10.3 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, March 7th. Lithia Motors’s payout ratio is currently 11.62%.
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.
Further Reading: Buyback For Investors Defined
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