TimesSquare Capital Management LLC raised its stake in shares of Lithia Motors Inc. (NYSE:LAD) by 13.4% during the third quarter, Holdings Channel reports. The firm owned 596,326 shares of the company’s stock after buying an additional 70,625 shares during the period. TimesSquare Capital Management LLC’s holdings in Lithia Motors were worth $56,961,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in Lithia Motors by 32.5% in the third quarter. Bank of Montreal Can now owns 1,118 shares of the company’s stock valued at $107,000 after buying an additional 274 shares during the period. Strs Ohio boosted its stake in shares of Lithia Motors by 180.0% in the third quarter. Strs Ohio now owns 1,400 shares of the company’s stock valued at $133,000 after buying an additional 900 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Lithia Motors by 28.5% in the second quarter. BlackRock Inc. now owns 1,982 shares of the company’s stock valued at $141,000 after buying an additional 440 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Lithia Motors during the second quarter valued at $199,000. Finally, Brighton Jones LLC bought a new stake in shares of Lithia Motors during the third quarter valued at $202,000. 96.95% of the stock is currently owned by institutional investors and hedge funds.
Lithia Motors Inc. (NYSE:LAD) opened at 97.49 on Tuesday. The company has a market capitalization of $2.45 billion, a PE ratio of 13.00 and a beta of 1.66. The company has a 50 day moving average of $91.82 and a 200 day moving average of $85.81. Lithia Motors Inc. has a 52-week low of $68.70 and a 52-week high of $110.33.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Thursday, October 20th. The company reported $2.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.16 by $0.10. Lithia Motors had a net margin of 2.31% and a return on equity of 22.67%. The company had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the previous year, the firm earned $2.03 earnings per share. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities research analysts forecast that Lithia Motors Inc. will post $7.45 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on LAD shares. KeyCorp started coverage on Lithia Motors in a research report on Wednesday, November 16th. They set an “overweight” rating on the stock. Zacks Investment Research upgraded Lithia Motors from a “sell” rating to a “hold” rating in a research report on Wednesday, December 21st. Wolfe Research started coverage on Lithia Motors in a research report on Wednesday, August 31st. They set an “outperform” rating on the stock. Finally, Stephens set a $114.00 price target on Lithia Motors and gave the company a “buy” rating in a research report on Friday, October 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Lithia Motors presently has a consensus rating of “Buy” and a consensus price target of $111.20.
In other news, Director Sidney B. Deboer sold 17,600 shares of Lithia Motors stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $97.00, for a total transaction of $1,707,200.00. Following the transaction, the director now directly owns 109,277 shares of the company’s stock, valued at approximately $10,599,869. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan O. Cain sold 750 shares of Lithia Motors stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $94.71, for a total value of $71,032.50. Following the transaction, the director now directly owns 14,141 shares in the company, valued at $1,339,294.11. The disclosure for this sale can be found here. Insiders own 11.41% of the company’s stock.
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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