California Public Employees Retirement System cut its position in Lithia Motors Inc. (NYSE:LAD) by 25.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,900 shares of the company’s stock after selling 11,200 shares during the period. California Public Employees Retirement System owned 0.13% of Lithia Motors worth $2,338,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in LAD. Emerald Acquisition Ltd. acquired a new stake in shares of Lithia Motors during the second quarter worth approximately $10,436,000. Rothschild Asset Management Inc. raised its stake in shares of Lithia Motors by 15.1% in the second quarter. Rothschild Asset Management Inc. now owns 170,347 shares of the company’s stock worth $12,107,000 after buying an additional 22,339 shares during the last quarter. Suntrust Banks Inc. raised its stake in shares of Lithia Motors by 6.6% in the second quarter. Suntrust Banks Inc. now owns 4,722 shares of the company’s stock worth $334,000 after buying an additional 291 shares during the last quarter. New Jersey Better Educational Savings Trust acquired a new stake in shares of Lithia Motors during the second quarter worth approximately $355,000. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Lithia Motors by 513.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 224,000 shares of the company’s stock worth $15,920,000 after buying an additional 187,500 shares during the last quarter. 92.94% of the stock is owned by institutional investors.
Lithia Motors Inc. (NYSE:LAD) traded down 1.11% during trading on Monday, reaching $94.46. The company’s stock had a trading volume of 108,307 shares. Lithia Motors Inc. has a 12-month low of $68.70 and a 12-month high of $126.56. The company has a market capitalization of $2.38 billion, a P/E ratio of 13.50 and a beta of 1.97. The firm’s 50-day moving average price is $86.57 and its 200 day moving average price is $82.72.
Lithia Motors (NYSE:LAD) last released its earnings results on Thursday, July 28th. The company reported $1.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.03. The firm 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 company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 EPS. On average, analysts predict that Lithia Motors Inc. will post $7.65 earnings per share for the current fiscal year.
A number of analysts recently commented on the company. Wolfe Research initiated coverage on Lithia Motors in a research note on Wednesday, August 31st. They issued an “outperform” rating for the company. Zacks Investment Research upgraded Lithia Motors from a “sell” rating to a “hold” rating in a report on Monday, August 1st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Lithia Motors currently has a consensus rating of “Buy” and a consensus target price of $111.25.
In other news, Director Sidney B. Deboer sold 17,600 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $95.00, for a total transaction of $1,672,000.00. Following the transaction, the director now owns 138,077 shares of the company’s stock, valued at approximately $13,117,315. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 11.41% of the company’s stock.
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.
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