Lithia Motors, Inc. (LAD) Stake Lifted by TimesSquare Capital Management LLC
TimesSquare Capital Management LLC grew its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 10.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 451,990 shares of the company’s stock after purchasing an additional 41,490 shares during the period. TimesSquare Capital Management LLC owned approximately 1.88% of Lithia Motors worth $42,591,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tyers Asset Management LLC lifted its holdings in shares of Lithia Motors by 21.1% during the 1st quarter. Tyers Asset Management LLC now owns 1,288 shares of the company’s stock worth $110,000 after acquiring an additional 224 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Lithia Motors by 9.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock worth $113,000 after acquiring an additional 105 shares during the last quarter. Flinton Capital Management LLC lifted its holdings in shares of Lithia Motors by 21.1% during the 1st quarter. Flinton Capital Management LLC now owns 1,564 shares of the company’s stock worth $134,000 after acquiring an additional 272 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Lithia Motors by 10.0% during the 1st quarter. Public Employees Retirement System of Ohio now owns 1,602 shares of the company’s stock worth $137,000 after acquiring an additional 146 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Lithia Motors during the 1st quarter worth $176,000. Hedge funds and other institutional investors own 98.47% of the company’s stock.
A number of analysts have recently issued reports on LAD shares. Bank of America Corporation downgraded shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price objective for the company. in a report on Friday, June 16th. Jefferies Group LLC reaffirmed a “buy” rating and set a $115.00 price objective on shares of Lithia Motors in a report on Wednesday, June 28th. BidaskClub raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Morgan Stanley dropped their price objective on shares of Lithia Motors from $115.00 to $106.00 and set an “overweight” rating for the company in a report on Friday, June 9th. Finally, Seaport Global Securities started coverage on shares of Lithia Motors in a report on Wednesday, June 14th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $112.00.
In other Lithia Motors news, insider George Chun-Wai Liang sold 1,970 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $105.62, for a total transaction of $208,071.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sidney B. Deboer sold 17,600 shares of the stock in a transaction 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 transaction, the director now owns 75,068 shares of the company’s stock, valued at approximately $7,253,820.84. The disclosure for this sale can be found here. Insiders have sold 236,700 shares of company stock valued at $23,887,068 in the last quarter. 7.85% of the stock is owned by company insiders.
Shares of Lithia Motors, Inc. (NYSE:LAD) opened at 110.47 on Friday. Lithia Motors, Inc. has a 1-year low of $75.85 and a 1-year high of $110.79. The firm has a 50-day moving average of $103.61 and a 200 day moving average of $94.67. The company has a market capitalization of $2.76 billion, a P/E ratio of 13.32 and a beta of 1.73.
Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Friday, July 28th. The company reported $2.28 EPS 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 21.66%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the business earned $1.96 earnings per share. Lithia Motors’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, analysts anticipate that Lithia Motors, Inc. will post $8.62 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, August 9th. This represents a $1.08 annualized dividend and a yield of 0.98%. Lithia Motors’s dividend payout ratio (DPR) is currently 13.01%.
Lithia Motors Profile
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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