Colony Group LLC Has $2.54 Million Holdings in Lithia Motors Inc (NYSE:LAD)
Colony Group LLC grew its holdings in Lithia Motors Inc (NYSE:LAD) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,307 shares of the company’s stock after purchasing an additional 476 shares during the period. Colony Group LLC owned about 0.07% of Lithia Motors worth $2,544,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Lord Abbett & CO. LLC acquired a new stake in Lithia Motors during the 4th quarter valued at $31,434,000. FMR LLC raised its position in shares of Lithia Motors by 6,081.4% in the first quarter. FMR LLC now owns 205,098 shares of the company’s stock valued at $19,022,000 after purchasing an additional 201,780 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Lithia Motors by 539.4% during the 4th quarter. Renaissance Technologies LLC now owns 150,900 shares of the company’s stock worth $22,182,000 after buying an additional 127,300 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Lithia Motors during the 4th quarter worth about $12,686,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Lithia Motors by 42.7% during the 4th quarter. Victory Capital Management Inc. now owns 149,763 shares of the company’s stock worth $20,314,000 after buying an additional 44,826 shares during the period. Institutional investors own 98.93% of the company’s stock.
LAD has been the topic of a number of research reports. Buckingham Research upgraded shares of Lithia Motors from a “neutral” rating to a “buy” rating and upped their price target for the company from $144.00 to $155.00 in a research note on Monday, February 24th. ValuEngine downgraded shares of Lithia Motors from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 16th. Benchmark reduced their price objective on Lithia Motors from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday. Bank of America reduced their price objective on Lithia Motors from $140.00 to $136.00 and set an “underperform” rating for the company in a report on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. decreased their target price on Lithia Motors from $165.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 11th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. Lithia Motors has an average rating of “Buy” and an average price target of $147.22.
Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $2.95 EPS for the quarter, missing the Zacks’ consensus estimate of $2.97 by ($0.02). The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.22 billion. Lithia Motors had a net margin of 2.14% and a return on equity of 20.56%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.54 earnings per share. Equities analysts expect that Lithia Motors Inc will post 10.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, March 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.36%. Lithia Motors’s dividend payout ratio (DPR) is presently 10.20%.
In other news, Director Shauna Mcintyre sold 255 shares of Lithia Motors stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $119.15, for a total transaction of $30,383.25. Following the transaction, the director now owns 1,350 shares in the company, valued at $160,852.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.95% of the stock is currently owned by insiders.
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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