Petrus Trust Company LTA Trims Position in Lithia Motors, Inc. (LAD)
Petrus Trust Company LTA lowered its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 3.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,004 shares of the company’s stock after selling 105 shares during the period. Petrus Trust Company LTA’s holdings in Lithia Motors were worth $283,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. DF Dent & Co. Inc. grew its position in Lithia Motors by 0.3% during the 1st quarter. DF Dent & Co. Inc. now owns 4,091 shares of the company’s stock worth $350,000 after acquiring an additional 11 shares during the last quarter. Texas Permanent School Fund lifted its holdings in Lithia Motors by 0.3% during the 2nd quarter. Texas Permanent School Fund now owns 17,359 shares of the company’s stock worth $1,636,000 after buying an additional 47 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Lithia Motors by 0.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,096 shares of the company’s stock worth $1,234,000 after buying an additional 75 shares during the period. D.A. Davidson & CO. lifted its holdings in Lithia Motors by 7.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock worth $104,000 after buying an additional 75 shares during the period. Finally, Symphony Asset Management LLC lifted its holdings in Lithia Motors by 1.2% during the 2nd quarter. Symphony Asset Management LLC now owns 6,692 shares of the company’s stock worth $631,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 98.47% of the company’s stock.
In related news, CEO Bryan B. Deboer sold 20,820 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $104.13, for a total value of $2,167,986.60. Following the sale, the chief executive officer now directly owns 101,004 shares of the company’s stock, valued at $10,517,546.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth E. Roberts sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $118.00, for a total value of $590,000.00. Following the completion of the sale, the director now directly owns 130,598 shares in the company, valued at $15,410,564. The disclosure for this sale can be found here. Insiders sold 264,870 shares of company stock worth $27,511,711 over the last three months. 7.85% of the stock is owned by insiders.
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Several brokerages have commented on LAD. Zacks Investment Research raised Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 target price on the stock in a report on Wednesday, August 23rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $125.00 target price on shares of Lithia Motors in a report on Thursday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $116.00 target price (up from $106.00) on shares of Lithia Motors in a report on Wednesday, August 2nd. Seaport Global Securities began coverage on Lithia Motors in a report on Wednesday, June 14th. They set a “neutral” rating on the stock. Finally, BidaskClub raised Lithia Motors from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Lithia Motors has a consensus rating of “Buy” and a consensus target price of $112.00.
Shares of Lithia Motors, Inc. (LAD) traded up 1.40% on Friday, hitting $120.31. The stock had a trading volume of 294,449 shares. The firm has a 50 day moving average of $105.78 and a 200-day moving average of $95.31. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 14.50 and a beta of 1.73. Lithia Motors, Inc. has a 1-year low of $75.85 and a 1-year high of $120.48.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Friday, July 28th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period last year, the firm earned $1.96 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. Equities analysts predict that Lithia Motors, Inc. will post $8.62 earnings per share for the current year.
Lithia Motors Company 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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