Aberdeen Asset Management PLC UK bought a new position in shares of Lithia Motors, Inc. (NYSE:LAD) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 339,917 shares of the company’s stock, valued at approximately $32,031,000. Aberdeen Asset Management PLC UK owned 1.41% of Lithia Motors at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of LAD. BlackRock Inc. grew its position in Lithia Motors by 152,203.5% during the first quarter. BlackRock Inc. now owns 2,901,382 shares of the company’s stock worth $248,504,000 after buying an additional 2,899,477 shares during the period. Victory Capital Management Inc. grew its position in Lithia Motors by 139.5% during the second quarter. Victory Capital Management Inc. now owns 955,783 shares of the company’s stock worth $90,063,000 after buying an additional 556,684 shares during the period. Harbour Capital Advisors LLC grew its position in Lithia Motors by 6,308.0% during the second quarter. Harbour Capital Advisors LLC now owns 383,516 shares of the company’s stock worth $4,070,000 after buying an additional 377,531 shares during the period. Park West Asset Management LLC grew its position in Lithia Motors by 30.2% during the first quarter. Park West Asset Management LLC now owns 828,214 shares of the company’s stock worth $70,937,000 after buying an additional 192,280 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in Lithia Motors during the first quarter worth about $15,225,000. Institutional investors own 98.47% of the company’s stock.
Shares of Lithia Motors, Inc. (NYSE LAD) opened at 110.47 on Friday. The stock has a market cap of $2.76 billion, a P/E ratio of 13.32 and a beta of 1.73. The firm has a 50 day moving average of $103.61 and a 200 day moving average of $94.67. Lithia Motors, Inc. has a one year low of $75.85 and a one year high of $110.79.
Lithia Motors (NYSE:LAD) last released its earnings results on Friday, July 28th. The company reported $2.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.05. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Lithia Motors had a net margin of 2.26% and a return on equity of 21.66%. Lithia Motors’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company earned $1.96 EPS. On average, equities research analysts predict that Lithia Motors, Inc. will post $8.62 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.08 annualized dividend and a yield of 0.98%. Lithia Motors’s payout ratio is 13.01%.
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In other news, Director Sidney B. Deboer sold 17,600 shares of Lithia Motors stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $96.63, for a total value of $1,700,688.00. Following the transaction, the director now owns 75,068 shares of the company’s stock, valued at approximately $7,253,820.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas R. Becker sold 1,031 shares of Lithia Motors stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $107.10, for a total transaction of $110,420.10. Following the completion of the transaction, the director now directly owns 65,704 shares in the company, valued at approximately $7,036,898.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,700 shares of company stock worth $23,887,068. 7.85% of the stock is owned by corporate insiders.
LAD has been the topic of several recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $116.00 target price (up from $106.00) on shares of Lithia Motors in a research report on Wednesday, August 2nd. Jefferies Group LLC restated a “buy” rating and set a $115.00 target price on shares of Lithia Motors in a research report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 target price on the stock in a research report on Wednesday, August 23rd. Bank of America Corporation lowered shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 target price on the stock. in a research report on Friday, June 16th. Finally, BidaskClub upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $112.00.
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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