ETRADE Capital Management LLC Has $597,000 Holdings in Lithia Motors Inc (NYSE:LAD)


ETRADE Capital Management LLC increased its position in shares of Lithia Motors Inc (NYSE:LAD) by 10.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,294 shares of the company’s stock after purchasing an additional 708 shares during the period. ETRADE Capital Management LLC’s holdings in Lithia Motors were worth $597,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank acquired a new position in Lithia Motors in the fourth quarter worth about $32,688,000. Lord Abbett & CO. LLC bought a new stake in shares of Lithia Motors in the 4th quarter valued at approximately $31,434,000. FMR LLC grew its stake in shares of Lithia Motors by 6,081.4% in the 1st 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 raised its holdings in shares of Lithia Motors by 539.4% in 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 in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Lithia Motors by 53.1% during the 4th quarter. Nuveen Asset Management LLC now owns 148,052 shares of the company’s stock worth $21,764,000 after buying an additional 51,361 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

In other news, Director Shauna Mcintyre sold 255 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was 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 of the company’s stock, valued at $160,852.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.95% of the company’s stock.

LAD opened at $118.94 on Monday. Lithia Motors Inc has a 1-year low of $55.74 and a 1-year high of $165.26. The stock has a market capitalization of $2.71 billion, a PE ratio of 10.69, a PEG ratio of 8.04 and a beta of 1.60. The company has a current ratio of 1.20, a quick ratio of 0.17 and a debt-to-equity ratio of 1.18. The firm has a 50-day moving average price of $97.12 and a two-hundred day moving average price of $126.50.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $2.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.03. Lithia Motors had a net margin of 2.07% and a return on equity of 19.10%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the firm earned $2.42 earnings per share. Lithia Motors’s revenue was down 1.6% compared to the same quarter last year. On average, research analysts predict that Lithia Motors Inc will post 8.5 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were paid a $0.30 dividend. The ex-dividend date was Thursday, May 7th. This represents a $1.20 annualized dividend and a dividend yield of 1.01%. Lithia Motors’s dividend payout ratio (DPR) is currently 10.20%.

Several research analysts have issued reports on the company. Buckingham Research upgraded Lithia Motors from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $144.00 to $155.00 in a research note on Monday, February 24th. ValuEngine raised shares of Lithia Motors from a “strong sell” rating to a “sell” rating in a report on Thursday, April 2nd. JPMorgan Chase & Co. upped their price objective on shares of Lithia Motors from $111.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Guggenheim lifted their target price on shares of Lithia Motors from $113.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Benchmark decreased their price target on Lithia Motors from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Two investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $135.00.

About Lithia Motors

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.

Featured Story: What does a market perform rating mean?