Scoggin Management LP acquired a new position in Lithia Motors, Inc. (NYSE:LAD) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 7,500 shares of the company’s stock, valued at approximately $1,710,000. Lithia Motors comprises about 0.8% of Scoggin Management LP’s holdings, making the stock its 19th largest holding.
A number of other large investors have also recently bought and sold shares of the business. Polianta Ltd acquired a new stake in shares of Lithia Motors in the third quarter valued at approximately $1,208,000. Profund Advisors LLC purchased a new position in shares of Lithia Motors during the 2nd quarter worth about $349,000. Victory Capital Management Inc. grew its holdings in Lithia Motors by 1,310.3% during the 3rd quarter. Victory Capital Management Inc. now owns 207,383 shares of the company’s stock valued at $47,271,000 after purchasing an additional 192,678 shares during the last quarter. FMR LLC raised its position in Lithia Motors by 92.1% in the 2nd quarter. FMR LLC now owns 484,654 shares of the company’s stock worth $73,342,000 after purchasing an additional 232,319 shares during the period. Finally, Swiss National Bank raised its position in Lithia Motors by 15.5% in the 2nd quarter. Swiss National Bank now owns 50,700 shares of the company’s stock worth $7,672,000 after purchasing an additional 6,800 shares during the period.
In other Lithia Motors news, SVP Thomas Dobry sold 2,321 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $241.43, for a total value of $560,359.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.95% of the stock is owned by corporate insiders.
Shares of NYSE:LAD traded down $15.28 on Monday, hitting $287.20. 3,173 shares of the company were exchanged, compared to its average volume of 343,605. The firm has a market capitalization of $8.02 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 0.68 and a beta of 1.87. The company has a current ratio of 1.24, a quick ratio of 0.28 and a debt-to-equity ratio of 1.06. Lithia Motors, Inc. has a 1-year low of $55.74 and a 1-year high of $310.57. The stock’s 50 day moving average price is $264.94 and its 200 day moving average price is $209.57.
Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $6.89 EPS for the quarter, topping the Zacks’ consensus estimate of $6.21 by $0.68. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Lithia Motors had a return on equity of 23.52% and a net margin of 2.82%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.39 EPS. On average, equities analysts predict that Lithia Motors, Inc. will post 17.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 27th. Shareholders of record on Friday, November 13th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Thursday, November 12th. Lithia Motors’s dividend payout ratio (DPR) is currently 10.54%.
A number of research analysts have recently commented on the company. Craig Hallum upped their target price on Lithia Motors from $300.00 to $350.00 in a research note on Thursday, October 22nd. Guggenheim raised their price objective on Lithia Motors from $233.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Bank of America upped their target price on Lithia Motors from $300.00 to $310.00 and gave the stock a “neutral” rating in a report on Tuesday, November 17th. Benchmark raised their price target on Lithia Motors from $240.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Finally, ValuEngine upgraded Lithia Motors from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $281.44.
Lithia Motors Profile
Lithia Motors, Inc operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Luxury. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells vehicle body and parts.
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