BNP Paribas Arbitrage SA cut its stake in Lithia Motors Inc (NYSE:LAD) by 21.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,720 shares of the company’s stock after selling 2,160 shares during the period. BNP Paribas Arbitrage SA’s holdings in Lithia Motors were worth $776,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. California Public Employees Retirement System raised its holdings in Lithia Motors by 1.8% in the 1st quarter. California Public Employees Retirement System now owns 33,378 shares of the company’s stock valued at $3,355,000 after acquiring an additional 601 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in Lithia Motors by 2.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 32,116 shares of the company’s stock valued at $3,227,000 after acquiring an additional 722 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Lithia Motors by 1.1% in the 1st quarter. JPMorgan Chase & Co. now owns 428,810 shares of the company’s stock valued at $43,103,000 after acquiring an additional 4,665 shares in the last quarter. BlackRock Inc. raised its holdings in Lithia Motors by 8.7% in the 1st quarter. BlackRock Inc. now owns 3,212,094 shares of the company’s stock valued at $322,881,000 after acquiring an additional 256,027 shares in the last quarter. Finally, Tyvor Capital LLC acquired a new position in Lithia Motors in the 1st quarter valued at $7,199,000. 99.72% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on LAD shares. Zacks Investment Research cut Lithia Motors from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Morgan Stanley lifted their price objective on Lithia Motors from $116.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, March 14th. ValuEngine cut Lithia Motors from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Guggenheim started coverage on Lithia Motors in a report on Monday, April 16th. They issued a “neutral” rating for the company. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $125.14.
In other news, 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 transaction, the director now owns 1,028 shares in the company, valued at approximately $101,258. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sidney B. Deboer sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $98.62, for a total value of $1,479,300.00. Following the sale, the director now owns 1,028 shares in the company, valued at approximately $101,381.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,137 shares of company stock worth $9,068,480. Corporate insiders own 5.95% of the company’s stock.
Shares of Lithia Motors opened at $104.43 on Wednesday, according to Marketbeat.com. Lithia Motors Inc has a 52-week low of $86.05 and a 52-week high of $127.99. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.24 and a current ratio of 1.19. The firm has a market capitalization of $2.55 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 0.57 and a beta of 1.72.
Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, April 25th. The company reported $2.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.30 by ($0.23). Lithia Motors had a net margin of 2.34% and a return on equity of 20.61%. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the previous year, the business posted $1.78 EPS. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. equities research analysts expect that Lithia Motors Inc will post 10.58 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 25th. Stockholders of record on Friday, May 11th were paid a $0.29 dividend. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.27. The ex-dividend date was Thursday, May 10th. This represents a $1.16 annualized dividend and a dividend yield of 1.11%. Lithia Motors’s dividend payout ratio (DPR) is presently 13.83%.
About Lithia Motors
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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