Parametric Portfolio Associates LLC increased its position in Lithia Motors Inc (NYSE:LAD) by 35.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 126,213 shares of the company’s stock after purchasing an additional 33,369 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.51% of Lithia Motors worth $15,185,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Lithia Motors by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,097,189 shares of the company’s stock valued at $197,618,000 after purchasing an additional 56,888 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Lithia Motors by 1.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,187,168 shares of the company’s stock valued at $111,867,000 after purchasing an additional 11,661 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Lithia Motors by 23.7% in the 3rd quarter. Victory Capital Management Inc. now owns 1,182,723 shares of the company’s stock valued at $142,294,000 after purchasing an additional 226,940 shares during the period. Dimensional Fund Advisors LP increased its position in Lithia Motors by 4.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 977,749 shares of the company’s stock valued at $117,631,000 after buying an additional 42,944 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Lithia Motors by 5.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 723,495 shares of the company’s stock valued at $68,175,000 after buying an additional 39,692 shares in the last quarter. Institutional investors own 98.47% of the company’s stock.
LAD has been the subject of a number of analyst reports. KeyCorp reaffirmed a “buy” rating and set a $130.00 price objective on shares of Lithia Motors in a research report on Monday, November 13th. Zacks Investment Research raised Lithia Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Berenberg Bank initiated coverage on Lithia Motors in a research report on Wednesday, October 4th. They set a “hold” rating and a $126.00 price objective for the company. Finally, Bank of America raised Lithia Motors from an “underperform” rating to a “neutral” rating and set a $128.00 price objective for the company in a research report on Monday, January 8th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Lithia Motors presently has an average rating of “Buy” and an average target price of $124.00.
In other Lithia Motors news, Director Kenneth E. Roberts sold 5,000 shares of Lithia Motors stock in a transaction on Monday, January 8th. The stock was sold at an average price of $124.00, for a total value of $620,000.00. Following the completion of the sale, the director now owns 110,064 shares of the company’s stock, valued at approximately $13,647,936. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kenneth E. Roberts sold 534 shares of Lithia Motors stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $122.62, for a total value of $65,479.08. Following the completion of the sale, the director now directly owns 115,064 shares of the company’s stock, valued at approximately $14,109,147.68. The disclosure for this sale can be found here. In the last three months, insiders sold 10,718 shares of company stock valued at $1,275,932. Corporate insiders own 7.85% of the company’s stock.
Lithia Motors Inc (NYSE LAD) opened at $124.48 on Friday. The firm has a market capitalization of $3,070.08, a P/E ratio of 15.13, a P/E/G ratio of 0.64 and a beta of 1.72. Lithia Motors Inc has a 52-week low of $80.88 and a 52-week high of $124.96. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.26 and a current ratio of 1.21.
Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, October 25th. The company reported $2.18 EPS for the quarter, missing the Zacks’ consensus estimate of $2.37 by ($0.19). The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.62 billion. Lithia Motors had a return on equity of 21.02% and a net margin of 2.14%. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.06 EPS. equities analysts forecast that Lithia Motors Inc will post 8.34 earnings per share for the current year.
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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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