Wexford Capital LP boosted its stake in Lithia Motors, Inc. (NYSE:LAD) by 35.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 33,269 shares of the company’s stock after buying an additional 8,748 shares during the period. Wexford Capital LP owned approximately 0.13% of Lithia Motors worth $2,849,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. Tyers Asset Management LLC bought a new stake in Lithia Motors during the fourth quarter valued at $103,000. Flinton Capital Management LLC bought a new stake in Lithia Motors during the fourth quarter valued at $125,000. Ameritas Investment Partners Inc. acquired a new position in Lithia Motors during the first quarter valued at approximately $176,000. State of Alaska Department of Revenue raised its position in Lithia Motors by 4.3% in the first quarter. State of Alaska Department of Revenue now owns 2,640 shares of the company’s stock valued at $226,000 after buying an additional 110 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Lithia Motors during the first quarter valued at approximately $231,000. Institutional investors and hedge funds own 98.94% of the company’s stock.
Lithia Motors, Inc. (NYSE:LAD) traded down 0.28% during midday trading on Tuesday, reaching $89.52. 175,461 shares of the company were exchanged. Lithia Motors, Inc. has a 52 week low of $68.70 and a 52 week high of $105.32. The firm’s 50 day moving average price is $91.85 and its 200-day moving average price is $94.45. The stock has a market capitalization of $2.24 billion, a P/E ratio of 10.93 and a beta of 1.65.
Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, April 19th. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. Lithia Motors had a return on equity of 21.91% and a net margin of 2.32%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business posted $1.55 EPS. Equities analysts forecast that Lithia Motors, Inc. will post $8.29 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Friday, May 12th were issued a dividend of $0.27 per share. This is an increase from Lithia Motors’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Wednesday, May 10th. Lithia Motors’s dividend payout ratio (DPR) is presently 13.19%.
A number of equities research analysts have issued reports on LAD shares. Zacks Investment Research raised shares of Lithia Motors from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a report on Wednesday, February 22nd. Jefferies Group LLC set a $115.00 target price on shares of Lithia Motors and gave the company a “buy” rating in a research note on Thursday, March 16th. Morgan Stanley lowered their price target on shares of Lithia Motors from $115.00 to $106.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Seaport Global Securities began coverage on shares of Lithia Motors in a report on Wednesday, June 14th. They issued a “neutral” rating for the company. Finally, Bank of America Corporation cut shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 target price for the company. in a report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Lithia Motors has an average rating of “Hold” and a consensus price target of $105.83.
In other news, Director Sidney B. Deboer sold 35,000 shares of Lithia Motors stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $97.00, for a total value of $3,395,000.00. Following the completion of the transaction, the director now owns 79,625 shares in the company, valued at approximately $7,723,625. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sidney B. Deboer sold 10,000 shares of Lithia Motors stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $95.38, for a total value of $953,800.00. Following the completion of the transaction, the director now owns 79,625 shares of the company’s stock, valued at approximately $7,594,632.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,300 shares of company stock worth $8,311,241. Company insiders own 7.85% of the company’s stock.
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.
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