Quantbot Technologies LP raised its stake in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 1,270.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,183 shares of the company's stock after buying an additional 6,659 shares during the quarter. Quantbot Technologies LP's holdings in Lithia Motors were worth $2,161,000 at the end of the most recent quarter.
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Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Lithia Motors in the 4th quarter worth about $123,976,000. Cadian Capital Management LP bought a new position in shares of Lithia Motors in the fourth quarter worth approximately $105,370,000. Wellington Management Group LLP grew its holdings in shares of Lithia Motors by 413.6% during the fourth quarter. Wellington Management Group LLP now owns 65,142 shares of the company's stock valued at $21,450,000 after buying an additional 52,458 shares during the last quarter. Boston Partners increased its position in shares of Lithia Motors by 67.5% during the fourth quarter. Boston Partners now owns 82,915 shares of the company's stock valued at $26,734,000 after acquiring an additional 33,405 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in Lithia Motors by 13.7% in the 4th quarter. Frontier Capital Management Co. LLC now owns 262,602 shares of the company's stock worth $86,470,000 after acquiring an additional 31,670 shares during the last quarter.
Lithia Motors Stock Performance
LAD traded up $7.91 during trading on Friday, hitting $266.94. The company's stock had a trading volume of 373,401 shares, compared to its average volume of 238,872. The business's 50 day simple moving average is $257.35 and its 200-day simple moving average is $278.27. The firm has a market cap of $7.32 billion, a PE ratio of 7.88, a P/E/G ratio of 2.86 and a beta of 1.63. Lithia Motors, Inc. has a one year low of $231.36 and a one year high of $331.96. The company has a quick ratio of 0.28, a current ratio of 1.17 and a debt-to-equity ratio of 1.17.
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Lithia Motors (NYSE:LAD - Get Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing analysts' consensus estimates of $7.85 by ($1.74). Lithia Motors had a return on equity of 15.62% and a net margin of 2.87%. The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the prior year, the business posted $8.44 earnings per share. Lithia Motors's revenue for the quarter was up 22.7% compared to the same quarter last year. As a group, sell-side analysts predict that Lithia Motors, Inc. will post 28.79 EPS for the current fiscal year.
Lithia Motors Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.79%. This is a positive change from Lithia Motors's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, May 9th. Lithia Motors's dividend payout ratio is currently 6.26%.
Insiders Place Their Bets
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In other Lithia Motors news, Director Shauna Mcintyre sold 138 shares of the company's stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $254.42, for a total value of $35,109.96. Following the completion of the transaction, the director now directly owns 2,228 shares in the company, valued at $566,847.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.79% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several analysts have commented on the company. JPMorgan Chase & Co. upgraded Lithia Motors from a "neutral" rating to an "overweight" rating and increased their target price for the company from $270.00 to $280.00 in a research note on Monday, June 10th. StockNews.com upgraded Lithia Motors from a "sell" rating to a "hold" rating in a report on Friday, April 26th. Guggenheim lowered Lithia Motors from a "buy" rating to a "neutral" rating in a research report on Friday, May 17th. Citigroup dropped their price target on shares of Lithia Motors from $320.00 to $280.00 and set a "neutral" rating on the stock in a report on Thursday, April 25th. Finally, Bank of America boosted their price objective on shares of Lithia Motors from $380.00 to $385.00 and gave the company a "buy" rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $319.45.
Get Our Latest Stock Report on Lithia Motors
Lithia Motors Company Profile
(Free Report)
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.
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