Two Sigma Advisers LP acquired a new position in shares of Lithia Motors Inc (NYSE:LAD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,239 shares of the company’s stock, valued at approximately $782,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Janus Henderson Group PLC acquired a new stake in shares of Lithia Motors in the third quarter valued at about $234,000. United Services Automobile Association grew its position in shares of Lithia Motors by 121.2% in the third quarter. United Services Automobile Association now owns 8,304 shares of the company’s stock valued at $678,000 after purchasing an additional 4,550 shares during the period. JPMorgan Chase & Co. grew its position in shares of Lithia Motors by 23.2% in the third quarter. JPMorgan Chase & Co. now owns 606,370 shares of the company’s stock valued at $49,516,000 after purchasing an additional 114,014 shares during the period. Riverhead Capital Management LLC grew its position in shares of Lithia Motors by 31.2% in the third quarter. Riverhead Capital Management LLC now owns 3,783 shares of the company’s stock valued at $309,000 after purchasing an additional 900 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Lithia Motors in the third quarter valued at about $262,000.
Shares of NYSE:LAD traded up $0.21 during midday trading on Thursday, hitting $114.07. The company’s stock had a trading volume of 146,700 shares, compared to its average volume of 264,827. The company has a current ratio of 1.17, a quick ratio of 0.23 and a debt-to-equity ratio of 1.04. The company has a market cap of $2.65 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.48 and a beta of 1.28. Lithia Motors Inc has a 12-month low of $67.90 and a 12-month high of $116.22.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a $0.30 dividend. This is an increase from Lithia Motors’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, May 9th. Lithia Motors’s dividend payout ratio (DPR) is currently 11.62%.
In other Lithia Motors news, Director Susan O. Cain sold 1,462 shares of Lithia Motors stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $87.15, for a total transaction of $127,413.30. Following the transaction, the director now directly owns 10,849 shares of the company’s stock, valued at $945,490.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sidney B. Deboer sold 15,433 shares of Lithia Motors stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $114.00, for a total transaction of $1,759,362.00. Following the transaction, the director now directly owns 11,144 shares in the company, valued at $1,270,416. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,730 shares of company stock worth $2,231,925. Insiders own 5.21% of the company’s stock.
LAD has been the topic of several research analyst reports. TheStreet upgraded shares of Lithia Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, January 29th. Zacks Investment Research upgraded shares of Lithia Motors from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Tuesday, January 15th. Seaport Global Securities initiated coverage on shares of Lithia Motors in a research report on Wednesday, February 13th. They issued a “buy” rating and a $110.00 target price on the stock. Craig Hallum reiterated a “buy” rating and issued a $125.00 target price (up previously from $103.00) on shares of Lithia Motors in a research report on Thursday, April 25th. Finally, Buckingham Research lifted their target price on shares of Lithia Motors from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $117.13.
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Lithia Motors Company Profile
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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