Campbell & CO Investment Adviser LLC Raises Position in Lithia Motors Inc (NYSE:LAD)
Campbell & CO Investment Adviser LLC raised its stake in Lithia Motors Inc (NYSE:LAD) by 105.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,011 shares of the company’s stock after purchasing an additional 4,103 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Lithia Motors were worth $952,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Lithia Motors during the fourth quarter valued at approximately $16,564,000. FMR LLC increased its position in shares of Lithia Motors by 6,081.4% during the first quarter. FMR LLC now owns 205,098 shares of the company’s stock valued at $19,022,000 after acquiring an additional 201,780 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lithia Motors by 17.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,323,683 shares of the company’s stock valued at $101,036,000 after acquiring an additional 200,381 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Lithia Motors during the first quarter valued at approximately $11,060,000. Finally, Wasatch Advisors Inc. increased its position in shares of Lithia Motors by 65.0% during the first quarter. Wasatch Advisors Inc. now owns 204,521 shares of the company’s stock valued at $18,969,000 after acquiring an additional 80,601 shares during the last quarter.
A number of analysts recently commented on LAD shares. Bank of America set a $275.00 price target on SVB Financial Group and gave the company a “buy” rating in a research report on Friday, April 26th. Buckingham Research downgraded Lithia Motors from a “buy” rating to a “neutral” rating and increased their price target for the company from $120.00 to $125.00 in a research report on Monday, July 8th. They noted that the move was a valuation call. JPMorgan Chase & Co. started coverage on Pinduoduo in a research report on Tuesday, July 9th. They set an “underweight” rating and a $20.48 price target for the company. Longbow Research reaffirmed a “hold” rating on shares of Cooper Tire & Rubber in a research report on Sunday, July 7th. Finally, Zacks Investment Research raised Green Brick Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $120.56.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.29. Lithia Motors had a return on equity of 20.68% and a net margin of 2.25%. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the company earned $2.07 earnings per share. Lithia Motors’s revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that Lithia Motors Inc will post 11.02 earnings per share for the current fiscal year.
In other news, Director Sidney B. Deboer sold 15,433 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $114.00, for a total value of $1,759,362.00. Following the sale, the director now directly owns 11,144 shares of the company’s stock, valued at approximately $1,270,416. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.21% of the company’s stock.
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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