Man Group plc raised its stake in Lithia Motors Inc (NYSE:LAD) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 229,265 shares of the company’s stock after purchasing an additional 17,633 shares during the quarter. Man Group plc owned approximately 0.99% of Lithia Motors worth $33,702,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Lord Abbett & CO. LLC bought a new position in Lithia Motors in the fourth quarter valued at approximately $31,434,000. FMR LLC grew its stake in Lithia Motors by 6,081.4% in the first quarter. FMR LLC now owns 205,098 shares of the company’s stock valued at $19,022,000 after purchasing an additional 201,780 shares in the last quarter. Principal Financial Group Inc. grew its stake in Lithia Motors by 5.0% in the fourth quarter. Principal Financial Group Inc. now owns 189,297 shares of the company’s stock valued at $27,827,000 after purchasing an additional 8,947 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Lithia Motors by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 170,079 shares of the company’s stock valued at $25,002,000 after purchasing an additional 1,452 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in Lithia Motors by 16.0% in the third quarter. Parametric Portfolio Associates LLC now owns 157,040 shares of the company’s stock valued at $20,789,000 after purchasing an additional 21,679 shares in the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.
LAD has been the subject of a number of recent analyst reports. Benchmark cut their price objective on Lithia Motors from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. cut their price objective on Lithia Motors from $165.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, March 11th. ValuEngine cut Lithia Motors from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 16th. Bank of America cut their price objective on Lithia Motors from $140.00 to $136.00 and set an “underperform” rating for the company in a research report on Tuesday, March 3rd. Finally, Buckingham Research raised Lithia Motors from a “neutral” rating to a “buy” rating and raised their price objective for the company from $144.00 to $155.00 in a research report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $147.22.
LAD opened at $88.06 on Thursday. Lithia Motors Inc has a 12-month low of $55.74 and a 12-month high of $165.26. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 1.98 and a beta of 1.15. The business has a 50 day moving average of $111.85 and a 200-day moving average of $136.90. The company has a quick ratio of 0.25, a current ratio of 1.20 and a debt-to-equity ratio of 1.14.
Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, February 12th. The company reported $2.95 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.97 by ($0.02). The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.22 billion. Lithia Motors had a return on equity of 20.56% and a net margin of 2.14%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.54 earnings per share. As a group, analysts expect that Lithia Motors Inc will post 10.28 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, March 12th. This represents a $1.20 annualized dividend and a yield of 1.36%. Lithia Motors’s payout ratio is currently 10.20%.
In related news, Director Shauna Mcintyre sold 255 shares of Lithia Motors stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $119.15, for a total transaction of $30,383.25. Following the completion of the sale, the director now directly owns 1,350 shares of the company’s stock, valued at approximately $160,852.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.95% of the company’s stock.
Lithia Motors 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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