Ameritas Investment Partners Inc. Holds Position in Lithia Motors, Inc. (LAD)
Ameritas Investment Partners Inc. held its position in Lithia Motors, Inc. (NYSE:LAD) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,051 shares of the company’s stock at the end of the 2nd quarter. Ameritas Investment Partners Inc.’s holdings in Lithia Motors were worth $193,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. grew its holdings in Lithia Motors by 152,203.5% during the 1st quarter. BlackRock Inc. now owns 2,901,382 shares of the company’s stock worth $248,504,000 after acquiring an additional 2,899,477 shares during the last quarter. Vanguard Group Inc. grew its holdings in Lithia Motors by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,097,189 shares of the company’s stock worth $197,618,000 after acquiring an additional 56,888 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Lithia Motors by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,187,168 shares of the company’s stock worth $111,867,000 after acquiring an additional 11,661 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Lithia Motors by 139.5% during the 2nd quarter. Victory Capital Management Inc. now owns 955,783 shares of the company’s stock worth $90,063,000 after acquiring an additional 556,684 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Lithia Motors by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 934,805 shares of the company’s stock worth $88,086,000 after acquiring an additional 12,244 shares during the last quarter. 98.47% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Susan O. Cain sold 1,000 shares of Lithia Motors stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $105.64, for a total value of $105,640.00. Following the transaction, the director now directly owns 12,242 shares of the company’s stock, valued at $1,293,244.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sidney B. Deboer sold 65,711 shares of Lithia Motors stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $121.77, for a total transaction of $8,001,628.47. Following the completion of the transaction, the director now directly owns 1,421 shares in the company, valued at $173,035.17. The disclosure for this sale can be found here. Insiders have sold 146,581 shares of company stock worth $17,011,362 over the last three months. Insiders own 7.85% of the company’s stock.
LAD has been the topic of a number of research reports. Zacks Investment Research lowered shares of Lithia Motors from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 10th. BidaskClub raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Berenberg Bank initiated coverage on shares of Lithia Motors in a report on Wednesday, October 4th. They set a “hold” rating and a $126.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and set a $116.00 target price (up from $106.00) on shares of Lithia Motors in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $125.00 target price on shares of Lithia Motors in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Lithia Motors currently has a consensus rating of “Hold” and an average price target of $116.29.
Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $2.18 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.19). The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Lithia Motors had a return on equity of 21.47% and a net margin of 2.14%. The company’s revenue was up 18.7% compared to the same quarter last year. During the same period last year, the business posted $2.06 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, November 9th. Lithia Motors’s dividend payout ratio (DPR) is presently 13.12%.
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Lithia Motors Company Profile
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.
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