Quantitative Investment Management LLC cut its stake in Lithia Motors Inc (NYSE:LAD) by 62.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,400 shares of the company’s stock after selling 25,100 shares during the period. Quantitative Investment Management LLC owned 0.06% of Lithia Motors worth $1,749,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brown Advisory Inc. raised its stake in shares of Lithia Motors by 23.8% during the third quarter. Brown Advisory Inc. now owns 4,442 shares of the company’s stock worth $534,000 after buying an additional 854 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Lithia Motors by 69.3% during the third quarter. BNP Paribas Arbitrage SA now owns 12,447 shares of the company’s stock worth $1,497,000 after buying an additional 5,095 shares during the last quarter. Wasatch Advisors Inc. bought a new stake in shares of Lithia Motors during the third quarter worth approximately $6,419,000. Schwab Charles Investment Management Inc. raised its stake in shares of Lithia Motors by 8.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 165,223 shares of the company’s stock worth $19,878,000 after buying an additional 13,143 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Lithia Motors by 5.4% during the third quarter. California Public Employees Retirement System now owns 30,032 shares of the company’s stock worth $3,613,000 after buying an additional 1,532 shares during the last quarter.
LAD has been the subject of a number of recent research reports. Stephens reissued a “buy” rating on shares of Lithia Motors in a research note on Thursday, February 15th. Buckingham Research dropped their price target on shares of Lithia Motors from $137.00 to $131.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Zacks Investment Research downgraded shares of Lithia Motors from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Bank of America raised shares of Lithia Motors from an “underperform” rating to a “neutral” rating and set a $128.00 price target for the company in a research note on Monday, January 8th. Finally, Morgan Stanley boosted their price target on shares of Lithia Motors from $116.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 14th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $129.29.
In other Lithia Motors news, Director Kenneth E. Roberts sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $124.00, for a total value of $620,000.00. Following the completion of the sale, the director now owns 110,064 shares of the company’s stock, valued at $13,647,936. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.95% of the stock is currently owned by corporate insiders.
Shares of Lithia Motors Inc (NYSE:LAD) opened at $104.84 on Tuesday. Lithia Motors Inc has a 12 month low of $80.88 and a 12 month high of $127.99. The company has a quick ratio of 0.28, a current ratio of 1.21 and a debt-to-equity ratio of 0.95. The company has a market cap of $2,656.87, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 0.50 and a beta of 1.78.
Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, February 14th. The company reported $2.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.09 by $0.06. Lithia Motors had a net margin of 2.43% and a return on equity of 20.81%. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the firm earned $1.86 earnings per share. The business’s quarterly revenue was up 18.0% on a year-over-year basis. equities research analysts forecast that Lithia Motors Inc will post 10.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, March 8th. Lithia Motors’s payout ratio is presently 11.07%.
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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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