Granahan Investment Management Inc. MA Has $4.83 Million Holdings in Lithia Motors, Inc. (LAD)

Granahan Investment Management Inc. MA cut its stake in Lithia Motors, Inc. (NYSE:LAD) by 23.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,116 shares of the company’s stock after selling 12,136 shares during the period. Granahan Investment Management Inc. MA owned approximately 0.16% of Lithia Motors worth $4,826,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LAD. D.A. Davidson & CO. increased its stake in shares of Lithia Motors by 7.3% in the 2nd quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock valued at $104,000 after purchasing an additional 75 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Lithia Motors by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock valued at $113,000 after purchasing an additional 105 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Lithia Motors in the 3rd quarter valued at $144,000. Public Employees Retirement System of Ohio increased its stake in shares of Lithia Motors by 12.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,806 shares of the company’s stock valued at $170,000 after purchasing an additional 204 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its stake in shares of Lithia Motors by 93.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,132 shares of the company’s stock valued at $201,000 after purchasing an additional 1,032 shares during the last quarter. 98.47% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Kenneth E. Roberts sold 534 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $122.62, for a total transaction of $65,479.08. Following the sale, the director now owns 115,064 shares in the company, valued at approximately $14,109,147.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth E. Roberts sold 15,000 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $115.98, for a total value of $1,739,700.00. Following the completion of the sale, the director now owns 130,598 shares in the company, valued at approximately $15,146,756.04. The disclosure for this sale can be found here. Insiders have sold a total of 116,429 shares of company stock worth $13,917,011 in the last 90 days. 7.85% of the stock is currently owned by corporate insiders.

Several brokerages have recently issued reports on LAD. Zacks Investment Research upgraded Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 price target on the stock in a research note on Wednesday, August 23rd. KeyCorp restated a “buy” rating and set a $130.00 price objective (up previously from $119.00) on shares of Lithia Motors in a research report on Wednesday, October 4th. Finally, Berenberg Bank began coverage on Lithia Motors in a research report on Wednesday, October 4th. They set a “hold” rating and a $126.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $116.29.

Shares of Lithia Motors, Inc. (NYSE LAD) traded down $1.75 during mid-day trading on Wednesday, reaching $119.80. The company had a trading volume of 234,100 shares, compared to its average volume of 265,968. The company has a market cap of $3,033.65, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.03 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. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 0.26.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.19). The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.62 billion. Lithia Motors had a return on equity of 21.02% and a net margin of 2.14%. The company’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.06 EPS. sell-side analysts anticipate that Lithia Motors, Inc. will post 8.34 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Friday, November 10th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.08 dividend on an annualized basis and a yield of 0.90%. Lithia Motors’s dividend payout ratio is currently 13.12%.

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Lithia Motors Company 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.

Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

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