First Trust Advisors LP lowered its stake in shares of Lithia Motors Inc. (NYSE:LAD) by 57.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,554 shares of the company’s stock after selling 11,645 shares during the period. First Trust Advisors LP’s holdings in Lithia Motors were worth $608,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Aperio Group LLC increased its position in shares of Lithia Motors by 5.7% in the first quarter. Aperio Group LLC now owns 9,014 shares of the company’s stock valued at $787,000 after buying an additional 483 shares during the last quarter. Nisa Investment Advisors L.L.C. bought a new position in shares of Lithia Motors during the first quarter valued at $489,000. Teachers Advisors Inc. increased its position in shares of Lithia Motors by 6.8% in the first quarter. Teachers Advisors Inc. now owns 34,756 shares of the company’s stock valued at $3,035,000 after buying an additional 2,220 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Lithia Motors by 0.5% in the first quarter. Prudential Financial Inc. now owns 91,861 shares of the company’s stock valued at $8,022,000 after buying an additional 500 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Lithia Motors by 124.5% in the first quarter. BlackRock Inc. now owns 1,542 shares of the company’s stock valued at $135,000 after buying an additional 855 shares during the last quarter. Hedge funds and other institutional investors own 92.94% of the company’s stock.
Lithia Motors Inc. (NYSE:LAD) traded down 0.82% during midday trading on Tuesday, hitting $95.27. The company had a trading volume of 41,345 shares. Lithia Motors Inc. has a 52 week low of $68.70 and a 52 week high of $126.56. The stock has a 50 day moving average price of $88.53 and a 200-day moving average price of $82.86. The stock has a market capitalization of $2.40 billion, a PE ratio of 13.61 and a beta of 1.97.
Lithia Motors (NYSE:LAD) last issued its earnings results on Thursday, July 28th. The company reported $1.96 EPS 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 firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. On average, equities analysts predict that Lithia Motors Inc. will post $7.65 EPS for the current year.
LAD has been the subject of several analyst reports. Zacks Investment Research upgraded Lithia Motors from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Wolfe Research initiated coverage on Lithia Motors in a report on Wednesday, August 31st. They set an “outperform” rating for the company. Five research analysts have rated the stock with a buy rating, Lithia Motors presently has a consensus rating of “Buy” and an average target price of $110.50.
In other news, Director Sidney B. Deboer sold 17,600 shares of the company’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $93.00, for a total value of $1,636,800.00. Following the sale, the director now owns 155,677 shares in the company, valued at $14,477,961. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.41% of the stock is owned by 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.
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