Mirabella Financial Services LLP Grows Position in Lithia Motors, Inc. $LAD

Mirabella Financial Services LLP boosted its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 141.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,639 shares of the company’s stock after acquiring an additional 2,718 shares during the quarter. Mirabella Financial Services LLP’s holdings in Lithia Motors were worth $1,463,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Lithia Motors in the second quarter worth about $148,540,000. Hennessy Advisors Inc. bought a new position in shares of Lithia Motors during the third quarter valued at approximately $39,342,000. Hook Mill Capital Partners LP purchased a new stake in shares of Lithia Motors in the third quarter worth approximately $29,130,000. River Road Asset Management LLC raised its holdings in shares of Lithia Motors by 26.4% in the second quarter. River Road Asset Management LLC now owns 412,516 shares of the company’s stock worth $139,356,000 after buying an additional 86,121 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Lithia Motors by 57.5% during the 2nd quarter. Bank of America Corp DE now owns 197,417 shares of the company’s stock worth $66,691,000 after acquiring an additional 72,061 shares during the last quarter.

Lithia Motors Stock Down 0.7%

Shares of NYSE LAD opened at $248.23 on Friday. Lithia Motors, Inc. has a 52-week low of $239.78 and a 52-week high of $360.55. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 0.57 and a beta of 1.20. The stock has a 50 day moving average price of $301.98 and a 200 day moving average price of $315.21. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.26 and a current ratio of 1.17.

Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, February 11th. The company reported $6.74 EPS for the quarter, missing the consensus estimate of $8.09 by ($1.35). The firm had revenue of $9.20 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Lithia Motors had a return on equity of 12.76% and a net margin of 2.18%.The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.79 earnings per share. Sell-side analysts expect that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, March 6th. Lithia Motors’s payout ratio is presently 6.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wall Street Zen cut Lithia Motors from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Citigroup reduced their target price on Lithia Motors from $399.00 to $366.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lithia Motors in a research report on Thursday, January 22nd. Bank of America began coverage on shares of Lithia Motors in a report on Wednesday, March 4th. They issued a “neutral” rating on the stock. Finally, Barclays reduced their price target on shares of Lithia Motors from $390.00 to $380.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Lithia Motors has an average rating of “Moderate Buy” and a consensus target price of $382.33.

Lithia Motors Company Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.