Quantitative Investment Management LLC lessened its stake in Lithia Motors Inc (NYSE:LAD) by 62.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,400 shares of the company’s stock after selling 25,100 shares during the quarter. Quantitative Investment Management LLC’s holdings in Lithia Motors were worth $1,749,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in shares of Lithia Motors in the third quarter valued at approximately $144,000. Contravisory Investment Management Inc. boosted its holdings in shares of Lithia Motors by 174.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 1,655 shares of the company’s stock valued at $188,000 after buying an additional 1,053 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Lithia Motors in the third quarter valued at approximately $236,000. Turner Investments LLC acquired a new position in shares of Lithia Motors in the third quarter valued at approximately $301,000. Finally, BlueCrest Capital Management Ltd boosted its holdings in shares of Lithia Motors by 37.8% in the fourth quarter. BlueCrest Capital Management Ltd now owns 2,545 shares of the company’s stock valued at $289,000 after buying an additional 698 shares during the period.
Several brokerages recently commented on LAD. Morgan Stanley increased their target price on shares of Lithia Motors from $116.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, March 14th. Zacks Investment Research cut shares of Lithia Motors from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Stephens restated a “buy” rating on shares of Lithia Motors in a report on Thursday, February 15th. Buckingham Research reduced their target price on shares of Lithia Motors from $137.00 to $131.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Finally, Bank of America upgraded shares of Lithia Motors from an “underperform” rating to a “neutral” rating and set a $128.00 target price for the company in a report on Monday, January 8th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Lithia Motors presently has a consensus rating of “Buy” and an average price target of $129.29.
Lithia Motors Inc (LAD) opened at $104.84 on Tuesday. Lithia Motors Inc has a 1-year low of $80.88 and a 1-year high of $127.99. The company has a market cap of $2,656.87, a price-to-earnings ratio of 12.66, a P/E/G ratio of 0.50 and a beta of 1.78. The company has a current ratio of 1.21, a quick ratio of 0.28 and a debt-to-equity ratio of 0.95.
Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, February 14th. The company reported $2.15 EPS for the quarter, topping 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 business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the company posted $1.86 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis. analysts forecast that Lithia Motors Inc will post 10.58 EPS for the current fiscal year.
The company also recently declared 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 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, March 8th. Lithia Motors’s dividend payout ratio is currently 11.07%.
In other Lithia Motors news, Director Kenneth E. Roberts sold 5,000 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $126.00, for a total value of $630,000.00. Following the completion of the sale, the director now owns 105,064 shares in the company, valued at $13,238,064. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.95% of the company’s stock.
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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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