CenterBook Partners LP Makes New $1.64 Million Investment in Lithia Motors, Inc. (NYSE:LAD)

CenterBook Partners LP bought a new position in Lithia Motors, Inc. (NYSE:LAD) during the 4th quarter, Holdings Channel reports. The firm bought 4,593 shares of the company’s stock, valued at approximately $1,642,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atlas Capital Advisors Inc. acquired a new stake in Lithia Motors in the fourth quarter worth about $34,000. SBI Securities Co. Ltd. bought a new stake in shares of Lithia Motors during the fourth quarter worth $35,000. UMB Bank n.a. raised its stake in shares of Lithia Motors by 69.9% in the 4th quarter. UMB Bank n.a. now owns 124 shares of the company’s stock valued at $44,000 after purchasing an additional 51 shares during the period. V Square Quantitative Management LLC lifted its stake in Lithia Motors by 33.9% in the 4th quarter. V Square Quantitative Management LLC now owns 146 shares of the company’s stock valued at $52,000 after acquiring an additional 37 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its holdings in Lithia Motors by 1,420.0% during the fourth quarter. Rakuten Securities Inc. now owns 152 shares of the company’s stock worth $54,000 after purchasing an additional 142 shares during the last quarter.

Insider Activity

In related news, Director Congdon Stacy Loretz sold 270 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $298.80, for a total value of $80,676.00. Following the completion of the sale, the director now directly owns 1,213 shares in the company, valued at $362,444.40. This represents a 18.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Adam Chamberlain sold 403 shares of Lithia Motors stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $384.28, for a total value of $154,864.84. Following the transaction, the chief operating officer now directly owns 2,605 shares in the company, valued at $1,001,049.40. The trade was a 13.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,246 shares of company stock valued at $433,724. 0.87% of the stock is currently owned by corporate insiders.

Lithia Motors Stock Performance

Shares of Lithia Motors stock opened at $292.85 on Friday. The company has a 50 day moving average of $324.58 and a 200-day moving average of $342.41. The company has a market cap of $7.70 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 4.65 and a beta of 1.61. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.22. Lithia Motors, Inc. has a 1-year low of $243.00 and a 1-year high of $405.68.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, February 12th. The company reported $7.79 earnings per share for the quarter, beating analysts’ consensus estimates of $7.33 by $0.46. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. As a group, equities research analysts forecast that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, March 7th. Lithia Motors’s payout ratio is 7.14%.

Analysts Set New Price Targets

LAD has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Lithia Motors from $420.00 to $360.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. StockNews.com raised Lithia Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Benchmark reissued a “buy” rating and set a $400.00 price target on shares of Lithia Motors in a research report on Thursday, February 20th. Evercore ISI boosted their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company raised their price objective on Lithia Motors from $346.00 to $397.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Lithia Motors presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.91.

Lithia Motors Company Profile

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company’s Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.