Parkwood LLC reduced its position in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 15.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 22,515 shares of the company's stock after selling 4,208 shares during the period. Parkwood LLC owned 0.08% of Lithia Motors worth $7,414,000 as of its most recent SEC filing.
- Ladder Corporation: Climbing Higher And Paying 9% Yield
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Lithia Motors by 0.4% during the third quarter. Vanguard Group Inc. now owns 2,807,407 shares of the company's stock valued at $829,112,000 after buying an additional 10,649 shares during the period. FMR LLC grew its holdings in shares of Lithia Motors by 10.3% during the third quarter. FMR LLC now owns 492,273 shares of the company's stock worth $145,383,000 after purchasing an additional 45,977 shares in the last quarter. Norges Bank purchased a new position in shares of Lithia Motors during the fourth quarter worth about $123,976,000. Cadian Capital Management LP purchased a new position in shares of Lithia Motors during the fourth quarter worth about $105,370,000. Finally, Frontier Capital Management Co. LLC grew its holdings in shares of Lithia Motors by 13.7% during the fourth quarter. Frontier Capital Management Co. LLC now owns 262,602 shares of the company's stock worth $86,470,000 after purchasing an additional 31,670 shares in the last quarter.
Lithia Motors Trading Down 2.7 %
LAD stock traded down $7.05 during midday trading on Thursday, hitting $256.53. The company had a trading volume of 223,421 shares, compared to its average volume of 235,837. The company has a current ratio of 1.17, a quick ratio of 0.28 and a debt-to-equity ratio of 1.17. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 3.03 and a beta of 1.62. The stock's 50 day moving average price is $262.34 and its 200 day moving average price is $283.60. Lithia Motors, Inc. has a 52 week low of $231.36 and a 52 week high of $331.96.
- 3 Undervalued Consumer Stocks to Stock Up On
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). The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.58 billion. Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. Lithia Motors's revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.44 EPS. As a group, equities research analysts expect that Lithia Motors, Inc. will post 28.78 earnings per share for the current fiscal year.
Lithia Motors Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a $0.53 dividend. This is an increase from Lithia Motors's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.12 dividend on an annualized basis and a yield of 0.83%. Lithia Motors's dividend payout ratio is 6.26%.
Insiders Place Their Bets
- 3 Mid-Cap Auto Stocks to Buy Ahead of Earnings
In other news, Director Shauna Mcintyre sold 138 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total value of $35,109.96. Following the sale, the director now directly owns 2,228 shares of the company's stock, valued at $566,847.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.79% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised Lithia Motors from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $270.00 to $280.00 in a report on Monday. Guggenheim lowered Lithia Motors from a "buy" rating to a "neutral" rating in a research note on Friday, May 17th. Craig Hallum cut their target price on Lithia Motors from $350.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. Morgan Stanley upped their target price on Lithia Motors from $220.00 to $230.00 and gave the stock an "underweight" rating in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group upped their target price on Lithia Motors from $300.00 to $334.00 and gave the stock a "neutral" rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Lithia Motors has an average rating of "Hold" and a consensus target price of $319.45.
Read Our Latest Research 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.
Read More
- Five stocks we like better than Lithia Motors
- Airline Stocks - Top Airline Stocks to Buy Now
- Why is the Ex-Dividend Date Significant to Investors?
- The FOMC Decision Means Higher Prices for Stocks This Summer
- Insider Trades May Not Tell You What You Think
- Here's Why Analysts Boosted Walmart Stock's Valuation
Want to see what other hedge funds are holding LAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lithia Motors, Inc. (NYSE:LAD - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
→ Who are Nvidia’s Silent Partners? (From Weiss Ratings) (Ad)
Should you invest $1,000 in Lithia Motors right now?
Before you consider Lithia Motors, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lithia Motors wasn't on the list.
While Lithia Motors currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Metaverse Stocks And Why You Can't Ignore Them
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
