Harvest Capital Strategies LLC decreased its position in shares of Lithia Motors Inc (NYSE:LAD) by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,000 shares of the company’s stock after selling 8,000 shares during the period. Harvest Capital Strategies LLC owned 0.19% of Lithia Motors worth $5,339,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LAD. Canada Pension Plan Investment Board acquired a new position in Lithia Motors during the third quarter worth approximately $144,000. Public Employees Retirement System of Ohio increased its position in Lithia Motors by 12.7% during the second quarter. Public Employees Retirement System of Ohio now owns 1,806 shares of the company’s stock worth $170,000 after buying an additional 204 shares during the period. Contravisory Investment Management Inc. increased its position in Lithia Motors by 174.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 1,655 shares of the company’s stock worth $188,000 after buying an additional 1,053 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in Lithia Motors by 142.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,648 shares of the company’s stock worth $188,000 after buying an additional 969 shares during the period. Finally, Stone Ridge Asset Management LLC acquired a new position in Lithia Motors during the fourth quarter worth approximately $203,000.
Lithia Motors Inc (LAD) opened at $107.54 on Wednesday. Lithia Motors Inc has a 12 month low of $80.88 and a 12 month high of $127.99. The firm has a market capitalization of $2,681.39, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 0.52 and a beta of 1.78. The company has a quick ratio of 0.28, a current ratio of 1.21 and a debt-to-equity ratio of 0.95.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.08 annualized dividend and a dividend yield of 1.00%. Lithia Motors’s dividend payout ratio (DPR) is currently 11.07%.
In other Lithia Motors news, Director Kenneth E. Roberts sold 5,000 shares of Lithia Motors stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $124.00, for a total value of $620,000.00. Following the transaction, the director now directly owns 110,064 shares in the company, valued at approximately $13,647,936. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.85% of the company’s stock.
Several research analysts have commented on the company. Zacks Investment Research raised Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $139.00 price target on the stock in a research report on Wednesday, January 10th. Bank of America upgraded Lithia Motors from an “underperform” rating to a “neutral” rating and set a $128.00 target price on the stock in a research note on Monday, January 8th. Buckingham Research lowered their target price on Lithia Motors from $137.00 to $131.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Finally, Stephens reiterated a “buy” rating on shares of Lithia Motors in a research note on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $127.86.
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About Lithia Motors
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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