Metropolitan Life Insurance Co. NY cut its stake in Lithia Motors Inc (NYSE:LAD) by 51.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,451 shares of the company’s stock after selling 7,802 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Lithia Motors were worth $846,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. grew its position in Lithia Motors by 142.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,648 shares of the company’s stock worth $188,000 after acquiring an additional 969 shares in the last quarter. Contravisory Investment Management Inc. grew its position in Lithia Motors by 174.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 1,655 shares of the company’s stock worth $188,000 after acquiring an additional 1,053 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new position in Lithia Motors in the fourth quarter worth $203,000. BlueCrest Capital Management Ltd grew its position in Lithia Motors by 37.8% in the fourth quarter. BlueCrest Capital Management Ltd now owns 2,545 shares of the company’s stock worth $289,000 after acquiring an additional 698 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new position in Lithia Motors in the fourth quarter worth $320,000.
NYSE LAD opened at $100.99 on Friday. The company has a quick ratio of 0.28, a current ratio of 1.21 and a debt-to-equity ratio of 0.95. Lithia Motors Inc has a 12-month low of $81.14 and a 12-month high of $127.99. The stock has a market cap of $2,505.75, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 0.47 and a beta of 1.72.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.06. Lithia Motors had a net margin of 2.43% and a return on equity of 20.81%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the business posted $1.86 earnings per share. The company’s revenue was up 18.0% on a year-over-year basis. sell-side analysts predict that Lithia Motors Inc will post 10.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 9th were issued a dividend of $0.27 per share. The ex-dividend date was Thursday, March 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.07%. Lithia Motors’s dividend payout ratio is currently 12.87%.
Several research analysts recently issued reports on LAD shares. Stephens reiterated a “buy” rating on shares of Lithia Motors in a research report on Thursday, February 15th. Buckingham Research cut their price target on shares of Lithia Motors from $137.00 to $131.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Zacks Investment Research lowered shares of Lithia Motors from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. ValuEngine lowered shares of Lithia Motors from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Bank of America upgraded shares of Lithia Motors from an “underperform” rating to a “neutral” rating and set a $128.00 price target for the company in a research report on Monday, January 8th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $129.29.
In other news, Director Kenneth E. Roberts sold 5,000 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $126.00, for a total transaction of $630,000.00. Following the completion of the sale, the director now directly owns 105,064 shares in the company, valued at $13,238,064. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.95% of the company’s stock.
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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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