American International Group Inc. raised its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 5.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 18,543 shares of the company’s stock after purchasing an additional 1,031 shares during the quarter. American International Group Inc. owned approximately 0.07% of Lithia Motors worth $2,231,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. grew its position in shares of Lithia Motors by 7.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock worth $104,000 after buying an additional 75 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Lithia Motors by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock worth $113,000 after buying an additional 105 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Lithia Motors during the 3rd quarter worth approximately $144,000. Eqis Capital Management Inc. acquired a new stake in shares of Lithia Motors during the 3rd quarter worth approximately $202,000. Finally, Strs Ohio grew its position in shares of Lithia Motors by 325.0% during the 3rd quarter. Strs Ohio now owns 1,700 shares of the company’s stock worth $204,000 after buying an additional 1,300 shares during the period. 98.47% of the stock is owned by institutional investors and hedge funds.
Lithia Motors, Inc. (LAD) traded down $0.45 during midday trading on Monday, reaching $120.38. 204,600 shares of the company traded hands, compared to its average volume of 266,338. Lithia Motors, Inc. has a twelve month low of $80.88 and a twelve month high of $123.50. The company has a current ratio of 1.21, a quick ratio of 0.26 and a debt-to-equity ratio of 0.96. The firm has a market cap of $3,004.44, a P/E ratio of 14.86, a P/E/G ratio of 1.03 and a beta of 1.72.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.19). Lithia Motors had a net margin of 2.14% and a return on equity of 21.02%. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the business posted $2.06 EPS. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. sell-side analysts anticipate that Lithia Motors, Inc. will post 8.33 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Friday, November 10th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 0.90%. The ex-dividend date was Thursday, November 9th. Lithia Motors’s payout ratio is currently 13.12%.
In related news, Director Susan O. Cain sold 1,302 shares of Lithia Motors stock in a transaction on Monday, November 27th. The shares were sold at an average price of $115.79, for a total value of $150,758.58. Following the completion of the sale, the director now owns 10,940 shares of the company’s stock, valued at approximately $1,266,742.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth E. Roberts sold 15,000 shares of Lithia Motors stock in a transaction on Monday, September 25th. The shares were sold at an average price of $115.98, for a total transaction of $1,739,700.00. Following the completion of the sale, the director now directly owns 130,598 shares of the company’s stock, valued at approximately $15,146,756.04. The disclosure for this sale can be found here. In the last three months, insiders sold 116,429 shares of company stock valued at $13,917,011. 7.85% of the stock is currently owned by insiders.
LAD has been the subject of several recent analyst reports. 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 report on Wednesday, August 23rd. KeyCorp reaffirmed a “buy” rating and set a $130.00 price objective (up previously from $119.00) on shares of Lithia Motors in a research report on Wednesday, October 4th. Finally, Berenberg Bank initiated coverage on shares of Lithia Motors in a research report on Wednesday, October 4th. They set a “hold” rating and a $126.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $116.29.
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About Lithia Motors
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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