State Board of Administration of Florida Retirement System lowered its stake in shares of Lithia Motors Inc. (NYSE:LAD) by 9.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,732 shares of the company’s stock after selling 1,202 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Lithia Motors were worth $834,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. boosted its position in shares of Lithia Motors by 3.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 587,272 shares of the company’s stock valued at $51,286,000 after buying an additional 16,936 shares in the last quarter. BlackRock Group LTD boosted its position in shares of Lithia Motors by 12.1% in the first quarter. BlackRock Group LTD now owns 27,832 shares of the company’s stock valued at $2,431,000 after buying an additional 3,010 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of Lithia Motors by 2.9% in the first quarter. Silvercrest Asset Management Group LLC now owns 353,655 shares of the company’s stock valued at $30,884,000 after buying an additional 10,069 shares in the last quarter. Columbia Partners L L C Investment Management boosted its position in shares of Lithia Motors by 13.0% in the first quarter. Columbia Partners L L C Investment Management now owns 58,121 shares of the company’s stock valued at $5,075,000 after buying an additional 6,683 shares in the last quarter. Finally, Nisa Investment Advisors L.L.C. bought a new position in shares of 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 0.09% during mid-day trading on Wednesday, hitting $90.75. The stock had a trading volume of 104,627 shares. Lithia Motors Inc. has a 12-month low of $68.70 and a 12-month high of $126.56. The firm has a market cap of $2.28 billion, a P/E ratio of 12.97 and a beta of 2.13. The stock has a 50-day moving average price of $85.66 and a 200 day moving average price of $82.56.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.03. Lithia Motors had a return on equity of 23.42% and a net margin of 2.23%. The company earned $2.13 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the firm earned $1.86 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts anticipate that Lithia Motors Inc. will post $7.65 EPS for the current fiscal year.
LAD has been the subject of several recent research reports. Wolfe Research initiated coverage on Lithia Motors in a research report on Wednesday, August 31st. They set an “outperform” rating for the company. Zacks Investment Research upgraded Lithia Motors from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $111.25.
In other Lithia Motors news, Director Sidney B. Deboer sold 17,600 shares of the 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 completion of the sale, the director now directly owns 155,677 shares of the company’s stock, valued at approximately $14,477,961. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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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