Insider Selling: Lithia Motors Inc. (LAD) Director Sells 17,600 Shares of Stock
Lithia Motors Inc. (NYSE:LAD) Director Sidney B. Deboer sold 17,600 shares of the company’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $95.00, for a total transaction of $1,672,000.00. Following the completion of the sale, the director now directly owns 138,077 shares in the company, valued at $13,117,315. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Lithia Motors Inc. (NYSE:LAD) opened at 95.52 on Friday. Lithia Motors Inc. has a 12 month low of $68.70 and a 12 month high of $126.56. The firm has a 50 day moving average of $86.57 and a 200-day moving average of $82.72. The firm has a market cap of $2.40 billion, a P/E ratio of 13.65 and a beta of 2.13.
Lithia Motors (NYSE:LAD) last announced its earnings results on Thursday, July 28th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.03. The business earned $2.13 billion during the quarter, compared to the consensus estimate of $2.18 billion. Lithia Motors had a net margin of 2.23% and a return on equity of 23.42%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 earnings per share. On average, equities research analysts forecast that Lithia Motors Inc. will post $7.65 earnings per share for the current year.
Several equities research analysts have commented on LAD shares. Wolfe Research started coverage on shares of Lithia Motors in a report on Wednesday, August 31st. They issued an “outperform” rating on the stock. Zacks Investment Research raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Monday, August 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $111.25.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. bought a new stake in Lithia Motors during the second quarter valued at about $29,296,000. Palestra Capital Management LLC boosted its stake in Lithia Motors by 109.1% in the second quarter. Palestra Capital Management LLC now owns 783,347 shares of the company’s stock valued at $55,672,000 after buying an additional 408,800 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Lithia Motors during the second quarter valued at about $15,254,000. State of New Jersey Common Pension Fund D boosted its stake in Lithia Motors by 513.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 224,000 shares of the company’s stock valued at $15,920,000 after buying an additional 187,500 shares in the last quarter. Finally, Fiera Capital Corp bought a new stake in Lithia Motors during the second quarter valued at about $12,173,000. Institutional investors and hedge funds own 92.94% of the company’s stock.
About Lithia Motors
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and services. The Company operates in three segments: Domestic, Import and Luxury. Its Domestic segment consists of retail automotive franchises that sell new vehicles of Chrysler, General Motors and Ford.
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