Duality Advisers LP bought a new position in Lithia Motors Inc (NYSE:LAD) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 11,819 shares of the company’s stock, valued at approximately $1,789,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Simon Quick Advisors LLC lifted its stake in Lithia Motors by 426.7% in the 1st quarter. Simon Quick Advisors LLC now owns 611 shares of the company’s stock worth $50,000 after purchasing an additional 495 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Lithia Motors by 22.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,862 shares of the company’s stock valued at $152,000 after buying an additional 341 shares during the period. Maverick Capital Ltd. purchased a new position in shares of Lithia Motors in the 1st quarter valued at about $168,000. Aigen Investment Management LP lifted its stake in Lithia Motors by 30,942.9% during the first quarter. Aigen Investment Management LP now owns 2,173 shares of the company’s stock worth $178,000 after purchasing an additional 2,166 shares during the last quarter. Finally, CWM Advisors LLC purchased a new stake in Lithia Motors during the first quarter worth approximately $201,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on LAD shares. Morgan Stanley boosted their target price on Lithia Motors from $180.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. TheStreet upgraded Lithia Motors from a “c” rating to a “b-” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on Lithia Motors from $170.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Guggenheim boosted their target price on Lithia Motors from $162.00 to $233.00 in a research note on Thursday, July 23rd. Finally, Craig Hallum lifted their price target on Lithia Motors from $170.00 to $260.00 in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $203.43.
Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, July 22nd. The company reported $3.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.54 by $2.18. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.32 billion. Lithia Motors had a return on equity of 19.36% and a net margin of 2.28%. Equities analysts expect that Lithia Motors Inc will post 11.9 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.31 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.54%. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.30. Lithia Motors’s payout ratio is presently 10.20%.
About Lithia Motors
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.
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