Cadian Capital Management LP acquired a new stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 320,000 shares of the company's stock, valued at approximately $105,370,000. Lithia Motors makes up approximately 4.2% of Cadian Capital Management LP's holdings, making the stock its 8th largest position. Cadian Capital Management LP owned about 1.16% of Lithia Motors as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in LAD. Denali Advisors LLC increased its holdings in Lithia Motors by 5,050.0% during the 4th quarter. Denali Advisors LLC now owns 103 shares of the company's stock worth $34,000 after purchasing an additional 101 shares in the last quarter. GAMMA Investing LLC bought a new position in Lithia Motors during the 4th quarter worth about $49,000. Benjamin F. Edwards & Company Inc. increased its holdings in Lithia Motors by 5,785.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 412 shares of the company's stock worth $135,000 after purchasing an additional 405 shares in the last quarter. KBC Group NV bought a new position in Lithia Motors during the 4th quarter worth about $147,000. Finally, Rakuten Securities Inc. bought a new position in Lithia Motors during the 4th quarter worth about $160,000.
Insider Buying and Selling at Lithia Motors
In other Lithia Motors news, Director Shauna Mcintyre sold 138 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $254.42, for a total value of $35,109.96. Following the transaction, the director now directly owns 2,228 shares of the company's stock, valued at approximately $566,847.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.79% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. The Goldman Sachs Group increased their target price on Lithia Motors from $300.00 to $334.00 and gave the stock a "neutral" rating in a report on Thursday, February 15th. Bank of America increased their price objective on shares of Lithia Motors from $380.00 to $385.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. upgraded shares of Lithia Motors from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $270.00 to $280.00 in a research note on Monday. Craig Hallum reduced their price objective on shares of Lithia Motors from $350.00 to $310.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. Finally, Stephens restated an "overweight" rating and set a $375.00 price objective on shares of Lithia Motors in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $319.45.
View Our Latest Stock Analysis on Lithia Motors
Lithia Motors Stock Performance
NYSE:LAD traded up $1.90 during mid-day trading on Monday, hitting $260.00. The stock had a trading volume of 290,365 shares, compared to its average volume of 234,338. Lithia Motors, Inc. has a twelve month low of $231.36 and a twelve month high of $331.96. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 3.01 and a beta of 1.62. The company's 50 day simple moving average is $264.08 and its 200 day simple moving average is $283.91. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.28 and a current ratio of 1.17.
Lithia Motors (NYSE:LAD - Get Free Report) last issued its earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.85 by ($1.74). The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.58 billion. Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The company's revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter last year, the business posted $8.44 earnings per share. On average, equities research analysts forecast that Lithia Motors, Inc. will post 28.78 earnings per share for the current year.
Lithia Motors Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a $0.53 dividend. This is a boost from Lithia Motors's previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Thursday, May 9th. Lithia Motors's dividend payout ratio is currently 6.26%.
Lithia Motors Company Profile
(Free Report)
Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products.
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