Zweig DiMenna Associates LLC Invests $4.90 Million in Lithia Motors Inc (LAD) Stock
Zweig DiMenna Associates LLC bought a new stake in Lithia Motors Inc (NYSE:LAD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 60,000 shares of the company’s stock, valued at approximately $4,900,000. Zweig DiMenna Associates LLC owned approximately 0.25% of Lithia Motors as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently bought and sold shares of LAD. Mount Yale Investment Advisors LLC purchased a new position in shares of Lithia Motors during the 1st quarter worth $136,000. Stevens Capital Management LP purchased a new position in shares of Lithia Motors during the 2nd quarter worth $205,000. Point72 Hong Kong Ltd lifted its stake in shares of Lithia Motors by 293.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,265 shares of the company’s stock worth $214,000 after purchasing an additional 1,690 shares during the period. Trexquant Investment LP purchased a new position in shares of Lithia Motors during the 2nd quarter worth $248,000. Finally, Cim Investment Mangement Inc. purchased a new position in shares of Lithia Motors during the 2nd quarter worth $293,000.
In related news, insider Chris Holzshu purchased 1,250 shares of the stock in a transaction that occurred on Friday, July 27th. The stock was purchased at an average cost of $82.23 per share, for a total transaction of $102,787.50. Following the acquisition, the insider now owns 35,862 shares in the company, valued at $2,948,932.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. North purchased 1,175 shares of the stock in a transaction that occurred on Monday, July 30th. The stock was bought at an average price of $84.91 per share, with a total value of $99,769.25. Following the completion of the acquisition, the insider now owns 15,481 shares in the company, valued at approximately $1,314,491.71. The disclosure for this purchase can be found here. Corporate insiders own 5.95% of the company’s stock.
LAD stock opened at $74.04 on Tuesday. The firm has a market cap of $1.98 billion, a PE ratio of 8.82, a PEG ratio of 0.70 and a beta of 1.55. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.20 and a quick ratio of 0.23. Lithia Motors Inc has a 52 week low of $73.83 and a 52 week high of $127.99.
Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, July 25th. The company reported $2.52 EPS for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.42). The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.06 billion. Lithia Motors had a return on equity of 20.30% and a net margin of 2.28%. The company’s quarterly revenue was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.28 earnings per share. On average, analysts forecast that Lithia Motors Inc will post 9.5 earnings per share for the current fiscal year.
Lithia Motors 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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