Columbia Partners L L C Investment Management purchased a new stake 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. The fund purchased 13,174 shares of the company’s stock, valued at approximately $1,241,000. Columbia Partners L L C Investment Management owned approximately 0.05% of Lithia Motors as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Lithia Motors by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock valued at $113,000 after purchasing an additional 105 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Lithia Motors by 10.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 1,602 shares of the company’s stock valued at $137,000 after purchasing an additional 146 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Lithia Motors in the 1st quarter valued at $176,000. Brighton Jones LLC acquired a new stake in shares of Lithia Motors in the 2nd quarter valued at $201,000. Finally, Riverhead Capital Management LLC lifted its stake in shares of Lithia Motors by 93.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,132 shares of the company’s stock valued at $201,000 after purchasing an additional 1,032 shares during the last quarter. Institutional investors and hedge funds own 98.47% of the company’s stock.
Lithia Motors, Inc. (LAD) traded down 0.79% during midday trading on Wednesday, hitting $111.80. 3,815 shares of the company traded hands. The firm has a market capitalization of $2.80 billion, a PE ratio of 13.48 and a beta of 1.73. Lithia Motors, Inc. has a 12-month low of $75.85 and a 12-month high of $114.58. The stock’s 50-day moving average is $105.78 and its 200-day moving average is $95.31.
Lithia Motors (NYSE:LAD) last released its earnings results on Friday, July 28th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.05. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.45 billion. Lithia Motors had a net margin of 2.26% and a return on equity of 21.66%. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.96 earnings per share. Analysts anticipate that Lithia Motors, Inc. will post $8.62 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Wednesday, August 9th. Lithia Motors’s dividend payout ratio (DPR) is currently 13.01%.
Several equities research analysts recently issued reports on LAD shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Lithia Motors in a research note on Wednesday, June 28th. BidaskClub raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Seaport Global Securities started coverage on shares of Lithia Motors in a research note on Wednesday, June 14th. They issued a “neutral” rating for the company. Morgan Stanley reduced their price objective on shares of Lithia Motors from $115.00 to $106.00 and set an “overweight” rating for the company in a research note on Friday, June 9th. Finally, Zacks Investment Research raised shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 price objective for the company in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Lithia Motors currently has an average rating of “Buy” and a consensus target price of $112.00.
In related news, insider George Chun-Wai Liang sold 1,970 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $105.62, for a total value of $208,071.40. The transaction 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 dated Thursday, August 31st. The shares were 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 of the company’s stock, valued at approximately $7,036,898.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,870 shares of company stock valued at $22,252,261. 7.85% of the stock is owned by insiders.
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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