Louisiana State Employees Retirement System increased its stake in shares of Lithia Motors Inc. (NYSE:LAD) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,600 shares of the company’s stock after buying an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Lithia Motors were worth $753,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in LAD. BlackRock Inc. increased its position in Lithia Motors by 124.5% in the first quarter. BlackRock Inc. now owns 1,542 shares of the company’s stock worth $135,000 after buying an additional 855 shares in the last quarter. Seven Eight Capital LLC boosted its stake in shares of Lithia Motors by 625.0% in the first quarter. Seven Eight Capital LLC now owns 2,900 shares of the company’s stock valued at $253,000 after buying an additional 2,500 shares in the last quarter. Adams Diversified Equity Fund Inc. bought a new stake in shares of Lithia Motors during the second quarter valued at $270,000. A.R.T. Advisors LLC bought a new position in Lithia Motors during the first quarter valued at $485,000. Finally, Nisa Investment Advisors L.L.C. bought a new position in Lithia Motors during the first quarter valued at $489,000. Institutional investors own 92.94% of the company’s stock.
Lithia Motors Inc. (NYSE:LAD) traded up 1.41% during mid-day trading on Monday, hitting $96.06. The stock had a trading volume of 228,289 shares. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 13.73 and a beta of 1.97. The stock’s 50-day moving average price is $88.15 and its 200-day moving average price is $82.87. Lithia Motors Inc. has a 12 month low of $68.70 and a 12 month high of $126.56.
Lithia Motors (NYSE:LAD) last issued its earnings results on Thursday, July 28th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.03. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.18 billion. Lithia Motors had a return on equity of 23.42% and a net margin of 2.23%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $1.86 EPS. On average, analysts predict that Lithia Motors Inc. will post $7.65 earnings per share for the current year.
Several brokerages have issued reports on LAD. Zacks Investment Research raised Lithia Motors from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Tuesday, October 4th. Wolfe Research began coverage on Lithia Motors in a research note on Wednesday, August 31st. They issued an “outperform” rating for the company. Five investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of $110.50.
In related news, Director Sidney B. Deboer sold 17,600 shares of Lithia Motors stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $93.00, for a total transaction of $1,636,800.00. Following the sale, 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 can be accessed through the SEC website. Corporate insiders own 11.41% of the company’s stock.
Lithia Motors Company Profile
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.
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