Sidney B. Deboer Sells 17,600 Shares of Lithia Motors Inc. (LAD) Stock
Lithia Motors Inc. (NYSE:LAD) Director Sidney B. Deboer sold 17,600 shares of the business’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 approximately $13,117,315. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Lithia Motors Inc. (NYSE:LAD) opened at 95.52 on Friday. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 13.65 and a beta of 2.13. Lithia Motors Inc. has a 12-month low of $68.70 and a 12-month high of $126.56. The stock has a 50 day moving average of $86.57 and a 200 day moving average of $82.72.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.03. Lithia Motors had a return on equity of 23.42% and a net margin of 2.23%. The business earned $2.13 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the company posted $1.86 earnings per share. Lithia Motors’s revenue was up 6.8% compared to the same quarter last year. On average, equities analysts expect that Lithia Motors Inc. will post $7.65 earnings per share for the current fiscal year.
Several equities research analysts have issued reports 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. Wolfe Research began coverage on shares of Lithia Motors in a report on Wednesday, August 31st. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $111.25.
A number of large investors have recently made changes to their positions in LAD. BlackRock Inc. increased its position in shares of Lithia Motors by 124.5% in the first quarter. BlackRock Inc. now owns 1,542 shares of the company’s stock worth $135,000 after buying an additional 855 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Lithia Motors during the second quarter worth about $199,000. Massmutual Trust Co. FSB ADV increased its position in shares of Lithia Motors by 3.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,387 shares of the company’s stock worth $208,000 after buying an additional 84 shares during the period. PineBridge Investments L.P. increased its position in shares of Lithia Motors by 7.0% in the second quarter. PineBridge Investments L.P. now owns 3,022 shares of the company’s stock worth $214,000 after buying an additional 197 shares during the period. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Lithia Motors during the second quarter worth about $220,000. 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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