Brandywine Global Investment Management LLC Cuts Holdings in Lithia Motors, Inc. (LAD)
Brandywine Global Investment Management LLC decreased its position in Lithia Motors, Inc. (NYSE:LAD) by 2.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 88,940 shares of the company’s stock after selling 2,586 shares during the period. Brandywine Global Investment Management LLC owned about 0.37% of Lithia Motors worth $8,381,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. D.A. Davidson & CO. boosted its position in Lithia Motors by 7.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock worth $104,000 after acquiring an additional 75 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 in the last quarter. Public Employees Retirement System of Ohio grew its stake 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 in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Lithia Motors during the 1st quarter worth approximately $176,000. Finally, Brighton Jones LLC bought a new position in shares of Lithia Motors during the 2nd quarter worth approximately $201,000. Hedge funds and other institutional investors own 98.47% of the company’s stock.
Lithia Motors, Inc. (LAD) opened at 121.68 on Tuesday. Lithia Motors, Inc. has a 52-week low of $75.85 and a 52-week high of $122.00. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 14.67 and a beta of 1.71. The firm’s 50 day moving average price is $109.65 and its 200 day moving average price is $96.86.
Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Friday, July 28th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.23 by $0.05. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.45 billion. Lithia Motors had a return on equity of 21.66% and a net margin of 2.26%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.96 earnings per share. Equities research analysts anticipate that Lithia Motors, Inc. will post $8.62 EPS for the current fiscal year.
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In other Lithia Motors news, Director Sidney B. Deboer sold 13,200 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $97.50, for a total transaction of $1,287,000.00. Following the transaction, the director now directly owns 48,668 shares in the company, valued at approximately $4,745,130. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bryan B. Deboer sold 20,820 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $104.13, for a total value of $2,167,986.60. Following the transaction, the chief executive officer now owns 101,004 shares in the company, valued at $10,517,546.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 247,270 shares of company stock worth $25,811,023. 7.85% of the stock is owned by insiders.
A number of analysts have recently commented on the stock. Seaport Global Securities assumed coverage on shares of Lithia Motors in a research report on Wednesday, June 14th. They issued a “neutral” rating on the stock. BidaskClub upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. 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 report on Friday, June 16th. Zacks Investment Research raised shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 target price for the company in a research report on Wednesday, August 23rd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $115.00 price target on shares of Lithia Motors in a research note on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $112.00.
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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