First Trust Advisors LP boosted its stake in shares of Lithia Motors, Inc. (NYSE:LAD) by 23.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,190 shares of the company’s stock after acquiring an additional 4,811 shares during the quarter. First Trust Advisors LP owned 0.10% of Lithia Motors worth $2,374,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Hodges Capital Management Inc. grew its holdings in Lithia Motors by 25.3% in the first quarter. Hodges Capital Management Inc. now owns 8,546 shares of the company’s stock valued at $732,000 after purchasing an additional 1,725 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of Lithia Motors in the first quarter worth approximately $15,225,000. Engineers Gate Manager LP acquired a new stake in shares of Lithia Motors in the first quarter worth approximately $231,000. Coe Capital Management LLC boosted its stake in shares of Lithia Motors by 3.2% in the first quarter. Coe Capital Management LLC now owns 7,000 shares of the company’s stock worth $600,000 after acquiring an additional 220 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Lithia Motors in the first quarter worth approximately $176,000. 98.47% of the stock is currently owned by institutional investors.
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In related news, CEO Bryan B. Deboer sold 20,820 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $104.13, for a total value of $2,167,986.60. Following the completion of the transaction, the chief executive officer now owns 101,004 shares of the company’s stock, valued at $10,517,546.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan O. Cain sold 1,000 shares of Lithia Motors stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $105.64, for a total transaction of $105,640.00. Following the completion of the transaction, the director now directly owns 12,242 shares of the company’s stock, valued at approximately $1,293,244.88. The disclosure for this sale can be found here. Insiders have sold 219,870 shares of company stock worth $22,252,261 over the last ninety days. Insiders own 7.85% of the company’s stock.
Shares of Lithia Motors, Inc. (NYSE LAD) opened at 113.88 on Friday. The firm’s 50-day moving average price is $105.36 and its 200 day moving average price is $95.08. Lithia Motors, Inc. has a 1-year low of $75.85 and a 1-year high of $114.47. The stock has a market capitalization of $2.85 billion, a P/E ratio of 13.73 and a beta of 1.73.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Friday, July 28th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.05. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.45 billion. Lithia Motors had a net margin of 2.26% and a return on equity of 21.66%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.96 earnings per share. Analysts expect that Lithia Motors, Inc. will post $8.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.08 annualized dividend and a yield of 0.95%. Lithia Motors’s dividend payout ratio is 13.01%.
A number of equities analysts have weighed in on the company. Zacks Investment Research raised Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 price objective on the stock in a research note on Wednesday, August 23rd. Jefferies Group LLC restated a “buy” rating and issued a $125.00 target price on shares of Lithia Motors in a research report on Thursday, August 3rd. Morgan Stanley restated an “overweight” rating and issued a $116.00 target price (up previously from $106.00) on shares of Lithia Motors in a research report on Wednesday, August 2nd. Seaport Global Securities initiated coverage on Lithia Motors in a report on Wednesday, June 14th. They issued a “neutral” rating on the stock. Finally, BidaskClub upgraded Lithia Motors from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $112.00.
Lithia Motors Profile
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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