Lithia Motors, Inc. (LAD) Position Increased by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. boosted its stake in Lithia Motors, Inc. (NYSE:LAD) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 723,495 shares of the company’s stock after acquiring an additional 39,692 shares during the period. Goldman Sachs Group Inc. owned 3.01% of Lithia Motors worth $68,175,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of LAD. BlackRock Inc. raised its holdings in Lithia Motors by 152,203.5% in the first quarter. BlackRock Inc. now owns 2,901,382 shares of the company’s stock valued at $248,504,000 after acquiring an additional 2,899,477 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Lithia Motors by 139.5% in the second quarter. Victory Capital Management Inc. now owns 955,783 shares of the company’s stock valued at $90,063,000 after acquiring an additional 556,684 shares in the last quarter. Harbour Capital Advisors LLC raised its holdings in Lithia Motors by 6,308.0% in the second quarter. Harbour Capital Advisors LLC now owns 383,516 shares of the company’s stock valued at $4,070,000 after acquiring an additional 377,531 shares in the last quarter. Aberdeen Asset Management PLC UK acquired a new stake in Lithia Motors in the second quarter valued at $32,031,000. Finally, Park West Asset Management LLC raised its holdings in Lithia Motors by 30.2% in the first quarter. Park West Asset Management LLC now owns 828,214 shares of the company’s stock valued at $70,937,000 after acquiring an additional 192,280 shares in the last quarter. 98.47% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Lithia Motors, Inc. (NYSE:LAD) opened at 118.23 on Friday. The firm’s 50 day moving average is $111.07 and its 200-day moving average is $97.40. Lithia Motors, Inc. has a one year low of $75.85 and a one year high of $123.50. The firm has a market capitalization of $2.96 billion, a PE ratio of 14.25 and a beta of 1.71.
Lithia Motors (NYSE:LAD) last issued its quarterly earnings data 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. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Lithia Motors had a return on equity of 21.66% and a net margin of 2.26%. The business’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the business earned $1.96 earnings per share. On average, equities research analysts predict that Lithia Motors, Inc. will post $8.61 earnings per share for the current fiscal year.
Several research firms recently issued reports on LAD. Bank of America Corporation cut shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price target on the stock. in a report on Friday, June 16th. Morgan Stanley reissued an “overweight” rating and set a $116.00 target price (up from $106.00) on shares of Lithia Motors in a report on Wednesday, August 2nd. BidaskClub raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Berenberg Bank began coverage on shares of Lithia Motors in a report on Wednesday. They set a “hold” rating and a $126.00 target price on the stock. Finally, Zacks Investment Research raised shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 target price on the stock in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Lithia Motors presently has a consensus rating of “Buy” and a consensus price target of $116.00.
In other Lithia Motors news, CEO Bryan B. Deboer sold 20,820 shares of Lithia Motors stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $104.13, for a total transaction of $2,167,986.60. Following the completion of the transaction, the chief executive officer now directly owns 101,004 shares of the company’s stock, valued at $10,517,546.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas R. Becker sold 1,031 shares of Lithia Motors stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $107.10, for a total value of $110,420.10. Following the transaction, the director now directly owns 65,704 shares of the company’s stock, valued at $7,036,898.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 312,981 shares of company stock valued at $33,812,652. Company insiders own 7.85% of the company’s stock.
Lithia Motors Company 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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