Teton Advisors Inc. Maintains Position in Lithia Motors, Inc. (LAD)
Teton Advisors Inc. continued to hold its stake in Lithia Motors, Inc. (NYSE:LAD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,200 shares of the company’s stock at the end of the second quarter. Teton Advisors Inc. owned about 0.11% of Lithia Motors worth $2,563,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in LAD. Norges Bank acquired a new stake in Lithia Motors during the fourth quarter valued at about $11,869,000. Teachers Advisors LLC increased its stake in Lithia Motors by 6.1% in the fourth quarter. Teachers Advisors LLC now owns 39,967 shares of the company’s stock valued at $3,870,000 after buying an additional 2,285 shares in the last quarter. Capstone Asset Management Co. increased its stake in Lithia Motors by 0.8% in the first quarter. Capstone Asset Management Co. now owns 7,353 shares of the company’s stock valued at $630,000 after buying an additional 55 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Lithia Motors by 3.2% in the first quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the company’s stock valued at $831,000 after buying an additional 300 shares in the last quarter. Finally, Legato Capital Management LLC increased its stake in Lithia Motors by 8,465.0% in the first quarter. Legato Capital Management LLC now owns 87,192 shares of the company’s stock valued at $1,018,000 after buying an additional 86,174 shares in the last quarter. Institutional investors own 99.45% of the company’s stock.
Shares of Lithia Motors, Inc. (NYSE LAD) opened at 101.96 on Friday. The firm has a market capitalization of $2.55 billion, a PE ratio of 12.29 and a beta of 1.73. The firm’s 50 day moving average is $99.33 and its 200-day moving average is $94.10. Lithia Motors, Inc. has a one year low of $75.85 and a one year high of $109.42.
Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Friday, July 28th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.05. Lithia Motors had a return on equity of 21.66% and a net margin of 2.26%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the previous year, the business posted $1.96 earnings per share. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities research analysts predict that Lithia Motors, Inc. will post $8.62 earnings per share for the current fiscal year.
The firm 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 $0.27 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.06%. Lithia Motors’s dividend payout ratio is 13.01%.
LAD has been the subject of several research reports. Zacks Investment Research upgraded shares of Lithia Motors from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research note on Tuesday, April 25th. Morgan Stanley decreased their target price on shares of Lithia Motors from $115.00 to $106.00 and set an “overweight” rating for the company in a research note on Friday, June 9th. Seaport Global Securities began coverage on shares of Lithia Motors in a research note on Wednesday, June 14th. They issued a “neutral” rating for the company. Bank of America Corporation downgraded shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 target price for the company. in a research note on Friday, June 16th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $115.00 target price on shares of Lithia Motors in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $109.17.
In other Lithia Motors news, Director Susan O. Cain sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $105.64, for a total transaction of $105,640.00. Following the completion of the sale, the director now directly owns 12,242 shares of the company’s stock, valued at approximately $1,293,244.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sidney B. Deboer sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $98.00, for a total value of $490,000.00. Following the sale, the director now directly owns 79,468 shares of the company’s stock, valued at $7,787,864. The disclosure for this sale can be found here. Insiders sold 209,296 shares of company stock valued at $20,951,694 over the last ninety days. 7.85% of the stock is currently owned by company insiders.
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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