Dimensional Fund Advisors LP increased its stake in Lithia Motors Inc. (NYSE:LAD) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 732,434 shares of the company’s stock after buying an additional 12,935 shares during the period. Dimensional Fund Advisors LP owned 2.91% of Lithia Motors worth $52,055,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV raised its position in shares of Lithia Motors by 3.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,387 shares of the company’s stock valued at $208,000 after buying an additional 84 shares during the period. Harfst & Associates Inc. raised its position in Lithia Motors by 6.8% in the second quarter. Harfst & Associates Inc. now owns 3,760 shares of the company’s stock valued at $267,000 after buying an additional 240 shares during the last quarter. Punch & Associates Investment Management Inc. raised its position in Lithia Motors by 0.3% in the second quarter. Punch & Associates Investment Management Inc. now owns 92,555 shares of the company’s stock valued at $6,578,000 after buying an additional 280 shares during the last quarter. Suntrust Banks Inc. raised its position in Lithia Motors by 6.6% in the second quarter. Suntrust Banks Inc. now owns 4,722 shares of the company’s stock valued at $334,000 after buying an additional 291 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Lithia Motors by 2.9% in the second quarter. Louisiana State Employees Retirement System now owns 10,600 shares of the company’s stock valued at $753,000 after buying an additional 300 shares during the last quarter. 92.94% of the stock is owned by institutional investors.
Shares of Lithia Motors Inc. (NYSE:LAD) traded down 0.57% on Friday, reaching $94.72. 212,400 shares of the company were exchanged. The stock has a market capitalization of $2.38 billion, a PE ratio of 13.54 and a beta of 1.97. Lithia Motors Inc. has a 1-year low of $68.70 and a 1-year high of $126.56. The company has a 50-day moving average price of $88.15 and a 200 day moving average price of $82.87.
Lithia Motors (NYSE:LAD) last announced its earnings results on Thursday, July 28th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.03. Lithia Motors had a net margin of 2.23% and a return on equity of 23.42%. The firm earned $2.13 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the previous year, the company posted $1.86 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts forecast that Lithia Motors Inc. will post $7.65 EPS for the current fiscal year.
Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Lithia Motors from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research note on Tuesday. Wolfe Research assumed coverage on shares of Lithia Motors in a research note on Wednesday, August 31st. They issued an “outperform” rating for the company. Five research analysts have rated the stock with a buy rating, Lithia Motors has a consensus rating of “Buy” and an average price target of $110.50.
In related news, Director Sidney B. Deboer sold 17,600 shares of the business’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $93.00, for a total value of $1,636,800.00. Following the completion of the transaction, the director now owns 155,677 shares of the company’s stock, valued at approximately $14,477,961. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 11.41% of the stock is currently owned by corporate insiders.
About Lithia Motors
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and services. The Company operates in three segments: Domestic, Import and Luxury. Its Domestic segment consists of retail automotive franchises that sell new vehicles of Chrysler, General Motors and Ford.
Receive News & Ratings for Lithia Motors Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithia Motors Inc. and related companies with MarketBeat.com's FREE daily email newsletter.