Lithia Motors, Inc. (LAD) Shares Bought by Dana Investment Advisors Inc.
Dana Investment Advisors Inc. lifted its position in Lithia Motors, Inc. (NYSE:LAD) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,399 shares of the company’s stock after buying an additional 121 shares during the quarter. Dana Investment Advisors Inc. owned approximately 0.11% of Lithia Motors worth $2,488,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of LAD. First Trust Advisors LP raised its holdings in shares of Lithia Motors by 68.5% in the 1st quarter. First Trust Advisors LP now owns 20,379 shares of the company’s stock valued at $1,745,000 after buying an additional 8,286 shares during the period. US Bancorp DE raised its holdings in shares of Lithia Motors by 6.2% in the 1st quarter. US Bancorp DE now owns 2,994 shares of the company’s stock valued at $256,000 after buying an additional 174 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Lithia Motors in the 1st quarter valued at $622,000. Parametric Portfolio Associates LLC raised its holdings in shares of Lithia Motors by 11.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 90,435 shares of the company’s stock valued at $7,746,000 after buying an additional 9,293 shares during the period. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Lithia Motors in the 1st quarter valued at $176,000. Hedge funds and other institutional investors own 98.47% of the company’s stock.
Shares of Lithia Motors, Inc. (NYSE LAD) traded up 0.38% during midday trading on Friday, reaching $118.68. The company’s stock had a trading volume of 173,422 shares. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 14.31 and a beta of 1.71. The firm’s 50 day moving average is $111.55 and its 200 day moving average is $97.60. Lithia Motors, Inc. has a 52 week low of $75.85 and a 52 week high of $123.50.
Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Friday, July 28th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.23 by $0.05. Lithia Motors had a return on equity of 21.66% and a net margin of 2.26%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period last year, the company posted $1.96 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. Equities analysts forecast that Lithia Motors, Inc. will post $8.61 EPS for the current fiscal year.
In other Lithia Motors news, insider George Chun-Wai Liang sold 1,970 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $105.62, for a total value of $208,071.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sidney B. Deboer sold 13,200 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $97.50, for a total value of $1,287,000.00. Following the completion of the transaction, the director now directly owns 48,668 shares in the company, valued at $4,745,130. The disclosure for this sale can be found here. Insiders sold 312,981 shares of company stock worth $33,812,652 over the last three months. 7.85% of the stock is currently owned by corporate insiders.
Several equities research analysts recently issued reports on the company. Bank of America Corporation downgraded Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price objective on the stock. in a report on Friday, June 16th. Morgan Stanley reiterated an “overweight” rating and issued a $116.00 price objective (up previously from $106.00) on shares of Lithia Motors in a report on Wednesday, August 2nd. BidaskClub upgraded Lithia Motors from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Berenberg Bank assumed coverage on Lithia Motors in a report on Wednesday. They issued a “hold” rating and a $126.00 price objective on the stock. Finally, Zacks Investment Research upgraded Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 price objective on the stock in a report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $116.00.
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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