Teton Advisors Inc. lessened its holdings in Lithia Motors Inc (NYSE:LAD) by 3.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,250 shares of the company’s stock after selling 950 shares during the quarter. Teton Advisors Inc. owned 0.11% of Lithia Motors worth $3,118,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Advisory Services Network LLC boosted its holdings in Lithia Motors by 290.5% in the 2nd quarter. Advisory Services Network LLC now owns 246 shares of the company’s stock valued at $29,000 after purchasing an additional 183 shares in the last quarter. Ellis Investment Partners LLC purchased a new stake in Lithia Motors in the 1st quarter valued at approximately $30,000. Versant Capital Management Inc boosted its holdings in Lithia Motors by 100.5% in the 1st quarter. Versant Capital Management Inc now owns 393 shares of the company’s stock valued at $36,000 after purchasing an additional 197 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Lithia Motors in the 1st quarter valued at approximately $47,000. Finally, SG Americas Securities LLC purchased a new stake in Lithia Motors in the 1st quarter valued at approximately $139,000.
Shares of NYSE:LAD traded up $4.01 during trading on Friday, hitting $129.63. 164,000 shares of the stock were exchanged, compared to its average volume of 314,923. The company has a fifty day moving average price of $124.77 and a two-hundred day moving average price of $107.22. The company has a market cap of $2.92 billion, a PE ratio of 12.99, a P/E/G ratio of 0.94 and a beta of 1.11. The company has a current ratio of 1.16, a quick ratio of 0.23 and a debt-to-equity ratio of 1.23. Lithia Motors Inc has a 12-month low of $67.90 and a 12-month high of $139.18.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, August 8th. Lithia Motors’s dividend payout ratio (DPR) is 12.02%.
In related news, Director Susan O. Cain sold 723 shares of Lithia Motors stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $134.78, for a total transaction of $97,445.94. Following the completion of the transaction, the director now directly owns 11,651 shares in the company, valued at approximately $1,570,321.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Louis Miramontes sold 450 shares of Lithia Motors stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $131.34, for a total value of $59,103.00. Following the transaction, the director now owns 2,746 shares of the company’s stock, valued at $360,659.64. The disclosure for this sale can be found here. 5.21% of the stock is owned by insiders.
A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Lithia Motors from $117.00 to $122.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Morgan Stanley lifted their price objective on Lithia Motors from $129.00 to $144.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Bank of America lowered Lithia Motors from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $102.00 to $115.00 in a report on Friday, April 26th. They noted that the move was a valuation call. Buckingham Research lowered Lithia Motors from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $120.00 to $125.00 in a research note on Monday, July 8th. They noted that the move was a valuation call. Finally, Longbow Research reissued a “buy” rating and set a $132.00 price target on shares of Lithia Motors in a research note on Sunday, July 7th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $124.44.
Lithia Motors Profile
Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.
Further Reading: Balanced Fund
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