Silvercrest Asset Management Group LLC reduced its position in Lithia Motors Inc (NYSE:LAD) by 35.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 257,865 shares of the company’s stock after selling 144,443 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Lithia Motors were worth $25,921,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Lithia Motors in the 1st quarter valued at $153,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Lithia Motors by 142.7% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,648 shares of the company’s stock valued at $188,000 after buying an additional 969 shares during the period. Stone Ridge Asset Management LLC acquired a new stake in shares of Lithia Motors in the 4th quarter valued at $203,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Lithia Motors in the 1st quarter valued at $240,000. Finally, Miles Capital Inc. acquired a new stake in shares of Lithia Motors in the 1st quarter valued at $264,000. 99.88% of the stock is owned by institutional investors.
Shares of Lithia Motors opened at $101.61 on Wednesday, MarketBeat reports. The company has a quick ratio of 0.24, a current ratio of 1.19 and a debt-to-equity ratio of 1.05. Lithia Motors Inc has a 12 month low of $86.05 and a 12 month high of $127.99. The firm has a market cap of $2.54 billion, a P/E ratio of 12.11, a P/E/G ratio of 0.57 and a beta of 1.72.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Wednesday, April 25th. The company reported $2.07 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.23). Lithia Motors had a return on equity of 20.61% and a net margin of 2.34%. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the firm earned $1.78 earnings per share. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. equities research analysts anticipate that Lithia Motors Inc will post 10.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Friday, May 11th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 10th. This is a boost from Lithia Motors’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.14%. Lithia Motors’s payout ratio is 13.83%.
In related news, Director Sidney B. Deboer sold 10,000 shares of Lithia Motors stock in a transaction on Monday, June 11th. The stock was sold at an average price of $102.00, for a total transaction of $1,020,000.00. Following the completion of the sale, the director now directly owns 1,028 shares of the company’s stock, valued at $104,856. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sidney B. Deboer sold 5,467 shares of Lithia Motors stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $98.50, for a total value of $538,499.50. Following the sale, the director now directly owns 1,028 shares of the company’s stock, valued at $101,258. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,137 shares of company stock valued at $9,068,480. 5.95% of the stock is owned by insiders.
Several equities research analysts have recently commented on LAD shares. Zacks Investment Research raised Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $119.00 target price for the company in a research note on Wednesday, April 18th. ValuEngine cut Lithia Motors from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Morgan Stanley lifted their target price on Lithia Motors from $116.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, March 14th. Stephens reissued a “buy” rating on shares of Lithia Motors in a research note on Thursday, February 15th. Finally, Guggenheim started coverage on Lithia Motors in a research note on Monday, April 16th. They issued a “neutral” rating for the company. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $125.14.
Lithia Motors Company Profile
Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.
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