The Adage Capital Partners GP L.L.C. Has $20,502,000 Position in Lithia Motors Inc. (LAD)

The Adage Capital Partners GP L.L.C. Has $20,502,000 Position in Lithia Motors Inc. (LAD)

Adage Capital Partners GP L.L.C. maintained its stake in Lithia Motors Inc. (NYSE:LAD) during the third quarter, Holdings Channel reports. The institutional investor owned 214,639 shares of the company’s stock at the end of the third quarter. Adage Capital Partners GP L.L.C. owned about 0.85% of Lithia Motors worth $20,502,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in LAD. Louisiana State Employees Retirement System boosted 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 valued at $753,000 after buying an additional 300 shares during the period. Redwood Investments LLC boosted its stake in Lithia Motors by 19.8% in the second quarter. Redwood Investments LLC now owns 50,113 shares of the company’s stock valued at $3,562,000 after buying an additional 8,272 shares during the period. Ameriprise Financial Inc. boosted its stake in Lithia Motors by 6.2% in the second quarter. Ameriprise Financial Inc. now owns 209,512 shares of the company’s stock valued at $14,890,000 after buying an additional 12,289 shares during the period. Teacher Retirement System of Texas boosted its stake in Lithia Motors by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 3,311 shares of the company’s stock valued at $235,000 after buying an additional 404 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Lithia Motors by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 732,434 shares of the company’s stock valued at $52,055,000 after buying an additional 12,935 shares during the period. 96.89% of the stock is currently owned by institutional investors.

Lithia Motors Inc. (NYSE:LAD) opened at 101.44 on Thursday. The company has a market cap of $2.55 billion, a P/E ratio of 13.53 and a beta of 1.66. Lithia Motors Inc. has a 12-month low of $68.70 and a 12-month high of $105.32. The firm has a 50-day moving average price of $98.61 and a 200-day moving average price of $89.01.

A number of research analysts have weighed in on LAD shares. Zacks Investment Research raised Lithia Motors from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Tuesday, October 4th. Stephens set a $114.00 target price on Lithia Motors and gave the company a “buy” rating in a report on Friday, October 21st. Finally, KeyCorp started coverage on Lithia Motors in a report on Wednesday, November 16th. They issued an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Lithia Motors presently has an average rating of “Buy” and a consensus target price of $111.50.

In other news, Director Sidney B. Deboer sold 52,800 shares of the business’s stock in a transaction on Friday, January 13th. The stock was sold at an average price of $101.56, for a total value of $5,362,368.00. Following the completion of the transaction, the director now directly owns 56,477 shares of the company’s stock, valued at approximately $5,735,804.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Susan O. Cain sold 750 shares of the business’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $94.71, for a total value of $71,032.50. Following the completion of the transaction, the director now directly owns 14,141 shares of the company’s stock, valued at $1,339,294.11. The disclosure for this sale can be found here. 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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