Concentric Capital Strategies LP Purchases Shares of 10,105 Lithia Motors, Inc. (NYSE:LAD)

Concentric Capital Strategies LP acquired a new position in shares of Lithia Motors, Inc. (NYSE:LAD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,105 shares of the company’s stock, valued at approximately $3,210,000.

Several other institutional investors also recently modified their holdings of the stock. Benjamin Edwards Inc. purchased a new position in Lithia Motors in the third quarter worth $211,000. Paloma Partners Management Co purchased a new position in shares of Lithia Motors in the 3rd quarter worth about $540,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Lithia Motors by 523.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,981 shares of the company’s stock valued at $629,000 after purchasing an additional 1,663 shares during the last quarter. Timber Creek Capital Management LLC raised its holdings in shares of Lithia Motors by 23.8% during the 3rd quarter. Timber Creek Capital Management LLC now owns 9,344 shares of the company’s stock valued at $2,968,000 after buying an additional 1,798 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Lithia Motors by 7.3% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 173,500 shares of the company’s stock worth $55,111,000 after buying an additional 11,800 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have commented on LAD. Morgan Stanley raised shares of Lithia Motors from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $225.00 to $310.00 in a research note on Wednesday, September 25th. Wells Fargo & Company upped their price target on shares of Lithia Motors from $299.00 to $343.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Stephens lifted their price objective on Lithia Motors from $360.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. StockNews.com upgraded Lithia Motors from a “sell” rating to a “hold” rating in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on Lithia Motors from $375.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.60.

Insider Activity at Lithia Motors

In related news, CFO Tina Miller sold 1,000 shares of Lithia Motors stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $392.72, for a total transaction of $392,720.00. Following the completion of the transaction, the chief financial officer now directly owns 10,403 shares of the company’s stock, valued at $4,085,466.16. This trade represents a 8.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gary M. Glandon sold 242 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $382.86, for a total transaction of $92,652.12. Following the sale, the insider now directly owns 1,729 shares in the company, valued at $661,964.94. The trade was a 12.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,067 shares of company stock worth $20,933,294 over the last ninety days. 1.79% of the stock is owned by corporate insiders.

Lithia Motors Stock Performance

Shares of LAD stock opened at $387.30 on Tuesday. The stock has a fifty day moving average of $341.95 and a 200 day moving average of $294.81. Lithia Motors, Inc. has a 52 week low of $243.00 and a 52 week high of $405.67. The company has a quick ratio of 0.27, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $10.32 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 6.35 and a beta of 1.65.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.60 by $0.61. The company had revenue of $9.22 billion during the quarter, compared to the consensus estimate of $9.46 billion. Lithia Motors had a net margin of 2.31% and a return on equity of 12.95%. Lithia Motors’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $9.25 earnings per share. As a group, research analysts expect that Lithia Motors, Inc. will post 29.42 earnings per share for the current year.

Lithia Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, November 8th. Lithia Motors’s payout ratio is presently 7.24%.

Lithia Motors Profile

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.