BNP Paribas Arbitrage SA lifted its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 69.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,447 shares of the company’s stock after buying an additional 5,095 shares during the period. BNP Paribas Arbitrage SA’s holdings in Lithia Motors were worth $1,497,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Lithia Motors by 0.7% in the third quarter. Principal Financial Group Inc. now owns 185,335 shares of the company’s stock valued at $22,298,000 after purchasing an additional 1,251 shares during the period. Boston Partners increased its holdings in Lithia Motors by 2.7% in the third quarter. Boston Partners now owns 545,701 shares of the company’s stock valued at $65,653,000 after buying an additional 14,313 shares in the last quarter. Keybank National Association OH increased its stake in shares of Lithia Motors by 13.6% during the 3rd quarter. Keybank National Association OH now owns 16,325 shares of the company’s stock worth $1,964,000 after purchasing an additional 1,950 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Lithia Motors by 26.7% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 15,477 shares of the company’s stock worth $1,862,000 after purchasing an additional 3,265 shares in the last quarter. Finally, Affinity Investment Advisors LLC purchased a new position in shares of Lithia Motors during the 3rd quarter worth approximately $244,000. Institutional investors and hedge funds own 98.47% of the company’s stock.
In related news, Director Kenneth E. Roberts sold 25,000 shares of Lithia Motors stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $117.19, for a total transaction of $2,929,750.00. Following the transaction, the director now owns 130,598 shares of the company’s stock, valued at approximately $15,304,779.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth E. Roberts sold 15,000 shares of Lithia Motors stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $115.98, for a total transaction of $1,739,700.00. Following the completion of the sale, the director now owns 130,598 shares in the company, valued at $15,146,756.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,895 shares of company stock worth $13,851,532. 7.85% of the stock is currently owned by company insiders.
Shares of Lithia Motors, Inc. (NYSE LAD) traded down $2.42 during trading hours on Wednesday, hitting $119.86. 263,100 shares of the company were exchanged, compared to its average volume of 267,101. The company has a current ratio of 1.21, a quick ratio of 0.26 and a debt-to-equity ratio of 0.96. The company has a market cap of $3,051.86, a P/E ratio of 15.10, a PEG ratio of 1.04 and a beta of 1.72. Lithia Motors, Inc. has a twelve month low of $80.88 and a twelve month high of $123.50.
Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, October 25th. The company reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.19). Lithia Motors had a net margin of 2.14% and a return on equity of 21.02%. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the firm earned $2.06 earnings per share. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. analysts expect that Lithia Motors, Inc. will post 8.33 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.08 annualized dividend and a dividend yield of 0.90%. Lithia Motors’s dividend payout ratio (DPR) is 13.12%.
LAD has been the topic of a number of research analyst reports. KeyCorp reiterated a “buy” rating and issued a $130.00 price target (up previously from $119.00) on shares of Lithia Motors in a report on Wednesday, October 4th. Zacks Investment Research lowered shares of Lithia Motors from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, Berenberg Bank began coverage on shares of Lithia Motors in a report on Wednesday, October 4th. They issued a “hold” rating and a $126.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $116.29.
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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