Insider Selling: Lithia Motors, Inc. (NYSE:LAD) Director Sells 17,600 Shares of Stock
Lithia Motors, Inc. (NYSE:LAD) Director Sidney B. Deboer sold 17,600 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $96.63, for a total transaction of $1,700,688.00. Following the completion of the transaction, the director now directly owns 75,068 shares of the company’s stock, valued at approximately $7,253,820.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of Lithia Motors, Inc. (NYSE LAD) traded up 2.81% during mid-day trading on Friday, hitting $102.62. 251,869 shares of the stock traded hands. Lithia Motors, Inc. has a 12-month low of $75.85 and a 12-month high of $109.42. The stock has a market cap of $2.58 billion, a P/E ratio of 12.37 and a beta of 1.73. The firm’s 50 day moving average price is $95.35 and its 200-day moving average price is $93.79.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Friday, July 28th. The company reported $2.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.05. Lithia Motors had a net margin of 2.26% and a return on equity of 22.13%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the firm posted $1.96 EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. Analysts predict that Lithia Motors, Inc. will post $8.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Wednesday, August 9th. Lithia Motors’s dividend payout ratio is currently 13.01%.
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Several equities analysts have commented on LAD shares. Zacks Investment Research cut shares of Lithia Motors from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Morgan Stanley decreased their price objective on shares of Lithia Motors from $115.00 to $106.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Seaport Global Securities started coverage on shares of Lithia Motors in a research report on Wednesday, June 14th. They set a “neutral” rating for the company. Bank of America Corporation cut shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price objective for the company. in a research report on Friday, June 16th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $115.00 price target on shares of Lithia Motors in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $109.17.
Several hedge funds have recently bought and sold shares of the company. Hudson Bay Capital Management LP bought a new stake in Lithia Motors during the fourth quarter valued at approximately $4,351,000. Federated Investors Inc. PA boosted its stake in Lithia Motors by 152,900.0% in the fourth quarter. Federated Investors Inc. PA now owns 3,060 shares of the company’s stock valued at $296,000 after buying an additional 3,058 shares in the last quarter. Hodges Capital Management Inc. boosted its stake in Lithia Motors by 25.3% in the first quarter. Hodges Capital Management Inc. now owns 8,546 shares of the company’s stock valued at $732,000 after buying an additional 1,725 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Lithia Motors by 33.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 15,518 shares of the company’s stock valued at $1,503,000 after buying an additional 3,926 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Lithia Motors during the first quarter valued at approximately $15,225,000. Institutional investors and hedge funds own 99.10% 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 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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