Sei Investments Co. Acquires 4,756 Shares of Lithia Motors, Inc. (LAD)
Sei Investments Co. lifted its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 11.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 46,457 shares of the company’s stock after purchasing an additional 4,756 shares during the period. Sei Investments Co. owned about 0.19% of Lithia Motors worth $5,589,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in LAD. Victory Capital Management Inc. grew its holdings in shares of Lithia Motors by 139.5% during the 2nd quarter. Victory Capital Management Inc. now owns 955,783 shares of the company’s stock valued at $90,063,000 after purchasing an additional 556,684 shares during the last quarter. Harbour Capital Advisors LLC grew its holdings in shares of Lithia Motors by 6,308.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 383,516 shares of the company’s stock valued at $4,070,000 after purchasing an additional 377,531 shares during the last quarter. Aberdeen Asset Management PLC UK bought a new position in shares of Lithia Motors during the 2nd quarter valued at $32,031,000. Koch Industries Inc. bought a new position in shares of Lithia Motors during the 2nd quarter valued at $201,000. Finally, Mesirow Financial Investment Management Equity Management bought a new stake in Lithia Motors in the 3rd quarter worth $20,620,000. 98.47% of the stock is currently owned by institutional investors.
In other news, Director Thomas R. Becker sold 1,031 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $107.10, for a total value of $110,420.10. Following the completion of the sale, the director now directly owns 65,704 shares of the company’s stock, valued at approximately $7,036,898.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sidney B. Deboer sold 3,051 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $113.25, for a total transaction of $345,525.75. Following the completion of the sale, the director now directly owns 433 shares of the company’s stock, valued at $49,037.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,624 shares of company stock valued at $13,811,193. Corporate insiders own 7.85% of the company’s stock.
Shares of Lithia Motors, Inc. (LAD) opened at $115.23 on Friday. The stock has a market cap of $2,875.91, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 0.98 and a beta of 1.72. Lithia Motors, Inc. has a twelve month low of $80.88 and a twelve month high of $123.50. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 0.26.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.19). The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.62 billion. Lithia Motors had a return on equity of 21.02% and a net margin of 2.14%. Lithia Motors’s revenue was up 18.7% on a year-over-year basis. During the same period last year, the business earned $2.06 EPS. equities analysts expect that Lithia Motors, Inc. will post 8.33 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were given a $0.27 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.08 annualized dividend and a dividend yield of 0.94%. Lithia Motors’s dividend payout ratio is 13.12%.
A number of equities research analysts have issued reports on the stock. Morgan Stanley reissued an “overweight” rating and issued a $116.00 price target (up previously from $106.00) on shares of Lithia Motors in a report on Wednesday, August 2nd. Berenberg Bank assumed coverage on shares of Lithia Motors in a report on Wednesday, October 4th. They issued a “hold” rating and a $126.00 price target on the stock. Zacks Investment Research raised shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 price target on the stock in a report on Wednesday, August 23rd. KeyCorp reissued a “buy” rating and issued a $130.00 price target on shares of Lithia Motors in a report on Monday, November 13th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $125.00 price target on shares of Lithia Motors in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Lithia Motors has an average rating of “Hold” and a consensus price target of $116.29.
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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