Martingale Asset Management L P Buys Shares of 1,528 Lithia Motors, Inc. (NYSE:LAD)

Martingale Asset Management L P bought a new stake in Lithia Motors, Inc. (NYSE:LADGet Rating) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,528 shares of the company’s stock, valued at approximately $420,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Arizona State Retirement System boosted its stake in Lithia Motors by 0.5% in the first quarter. Arizona State Retirement System now owns 8,185 shares of the company’s stock valued at $2,456,000 after acquiring an additional 43 shares during the period. BTC Capital Management Inc. boosted its stake in Lithia Motors by 4.3% in the second quarter. BTC Capital Management Inc. now owns 1,171 shares of the company’s stock valued at $323,000 after acquiring an additional 48 shares during the period. Haverford Trust Co boosted its stake in Lithia Motors by 3.6% in the first quarter. Haverford Trust Co now owns 1,430 shares of the company’s stock valued at $429,000 after acquiring an additional 50 shares during the period. Adirondack Trust Co. boosted its stake in Lithia Motors by 100.0% in the second quarter. Adirondack Trust Co. now owns 100 shares of the company’s stock valued at $27,000 after acquiring an additional 50 shares during the period. Finally, Johnson Investment Counsel Inc. boosted its stake in Lithia Motors by 0.8% in the first quarter. Johnson Investment Counsel Inc. now owns 7,217 shares of the company’s stock valued at $2,166,000 after acquiring an additional 60 shares during the period. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Lithia Motors Price Performance

Shares of NYSE:LAD opened at $224.76 on Wednesday. Lithia Motors, Inc. has a 12 month low of $180.00 and a 12 month high of $349.61. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 5.03, a PEG ratio of 1.48 and a beta of 1.32. The stock’s 50 day moving average price is $216.60 and its 200 day moving average price is $256.10. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 0.49.

Lithia Motors (NYSE:LADGet Rating) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $11.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.90 by ($0.82). The company had revenue of $7.30 billion during the quarter, compared to the consensus estimate of $7.34 billion. Lithia Motors had a net margin of 4.70% and a return on equity of 28.20%. Lithia Motors’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the company posted $11.21 EPS. Equities research analysts anticipate that Lithia Motors, Inc. will post 45.7 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Friday, November 11th were issued a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $1.68 annualized dividend and a dividend yield of 0.75%. Lithia Motors’s dividend payout ratio is currently 3.76%.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 180 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $241.34, for a total value of $43,441.20. Following the transaction, the director now owns 1,839 shares of the company’s stock, valued at $443,824.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Bank of America reduced their price objective on Lithia Motors from $565.00 to $470.00 and set a “buy” rating for the company in a research report on Friday, September 9th. Craig Hallum reduced their price objective on Lithia Motors from $540.00 to $360.00 in a research report on Thursday, October 20th. Wells Fargo & Company reduced their price objective on Lithia Motors from $348.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, October 17th. Benchmark reduced their price objective on Lithia Motors from $400.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, October 21st. Finally, TheStreet downgraded Lithia Motors from a “b” rating to a “c+” rating in a research report on Friday, September 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $311.00.

Lithia Motors Profile

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Lithia Motors, Inc operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Luxury. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells vehicle body and parts under the Driveway and GreenCars brand names.

Further Reading

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Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

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