Lithia Motors Inc. (LAD) Position Maintained by Stoneridge Investment Partners LLC
Stoneridge Investment Partners LLC continued to hold its stake in shares of Lithia Motors Inc. (NYSE:LAD) during the second quarter, Holdings Channel reports. The fund owned 27,283 shares of the company’s stock at the end of the second quarter. Stoneridge Investment Partners LLC owned approximately 0.11% of Lithia Motors worth $1,939,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Louisiana State Employees Retirement System increased its stake in Lithia Motors by 2.9% in the second quarter. Louisiana State Employees Retirement System now owns 10,600 shares of the company’s stock worth $753,000 after buying an additional 300 shares during the last quarter. Adams Diversified Equity Fund Inc. purchased a new stake in Lithia Motors during the second quarter worth $270,000. Punch & Associates Investment Management Inc. increased its stake in Lithia Motors by 0.3% in the second quarter. Punch & Associates Investment Management Inc. now owns 92,555 shares of the company’s stock worth $6,578,000 after buying an additional 280 shares during the last quarter. Capstone Asset Management Co. increased its stake in Lithia Motors by 10.9% in the second quarter. Capstone Asset Management Co. now owns 9,088 shares of the company’s stock worth $646,000 after buying an additional 890 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new stake in Lithia Motors during the first quarter worth $511,000. Hedge funds and other institutional investors own 92.94% of the company’s stock.
Lithia Motors Inc. (NYSE:LAD) traded down 0.15% during trading on Wednesday, hitting $91.05. The stock had a trading volume of 300,314 shares. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 13.01 and a beta of 2.13. The stock has a 50 day moving average price of $84.81 and a 200-day moving average price of $82.73. Lithia Motors Inc. has a 12 month low of $68.70 and a 12 month high of $126.56.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings data 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 business earned $2.13 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned $1.86 EPS. On average, equities analysts predict that Lithia Motors Inc. will post $7.65 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Wednesday, August 10th. Lithia Motors’s dividend payout ratio is currently 14.29%.
Several analysts have weighed in on the company. Zacks Investment Research upgraded Lithia Motors from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Wolfe Research assumed coverage on Lithia Motors in a research report on Wednesday, August 31st. They issued an “outperform” rating for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Lithia Motors currently has a consensus rating of “Buy” and an average price target of $111.25.
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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