Quadrature Capital Ltd acquired a new position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,266 shares of the company's stock, valued at approximately $720,000.
Several other hedge funds and other institutional investors have also bought and sold shares of LAD. Versor Investments LP raised its position in shares of Lithia Motors by 7.0% in the 3rd quarter. Versor Investments LP now owns 856 shares of the company's stock worth $272,000 after acquiring an additional 56 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in Lithia Motors by 22.9% during the second quarter. Westwood Holdings Group Inc. now owns 70,405 shares of the company's stock worth $17,774,000 after purchasing an additional 13,126 shares during the period. Bridges Investment Management Inc. increased its holdings in Lithia Motors by 118.9% in the second quarter. Bridges Investment Management Inc. now owns 160,860 shares of the company's stock worth $40,609,000 after purchasing an additional 87,362 shares in the last quarter. Quantbot Technologies LP lifted its stake in Lithia Motors by 46.1% in the second quarter. Quantbot Technologies LP now owns 10,496 shares of the company's stock valued at $2,650,000 after buying an additional 3,313 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Lithia Motors during the 3rd quarter worth approximately $248,000.
Shares of LAD stock opened at $377.98 on Friday. Lithia Motors, Inc. has a 52 week low of $243.00 and a 52 week high of $405.67. The firm's 50-day simple moving average is $347.18 and its two-hundred day simple moving average is $297.79. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 6.28 and a beta of 1.65. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.27 and a current ratio of 1.18.
Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $8.21 EPS for the quarter, beating the consensus estimate of $7.60 by $0.61. The business had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.46 billion. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. Lithia Motors's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.25 earnings per share. As a group, equities analysts forecast that Lithia Motors, Inc. will post 29.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, November 8th. Lithia Motors's dividend payout ratio (DPR) is currently 7.24%.
LAD has been the subject of several research analyst reports. Guggenheim lifted their price objective on shares of Lithia Motors from $380.00 to $418.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Morgan Stanley upgraded shares of Lithia Motors from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $225.00 to $310.00 in a report on Wednesday, September 25th. Citigroup increased their price objective on shares of Lithia Motors from $280.00 to $320.00 and gave the stock a "neutral" rating in a research report on Friday, September 27th. StockNews.com raised Lithia Motors from a "sell" rating to a "hold" rating in a research note on Friday, November 29th. Finally, Wells Fargo & Company lifted their price target on Lithia Motors from $299.00 to $343.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $357.60.
Read Our Latest Stock Analysis on Lithia Motors
In other Lithia Motors news, CFO Tina Miller sold 1,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $392.72, for a total transaction of $392,720.00. Following the sale, the chief financial officer now owns 10,403 shares in the company, valued at $4,085,466.16. This represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gary M. Glandon sold 242 shares of Lithia Motors stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $382.86, for a total value of $92,652.12. Following the completion of the transaction, the insider now owns 1,729 shares of the company's stock, valued at approximately $661,964.94. This trade represents a 12.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,067 shares of company stock worth $20,933,294. Company insiders own 1.79% of the company's stock.
Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.
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