Wesbanco Bank Inc. increased its stake in shares of Lithia Motors Inc (NYSE:LAD) by 31.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 24,685 shares of the company’s stock after acquiring an additional 5,918 shares during the period. Wesbanco Bank Inc. owned approximately 0.11% of Lithia Motors worth $2,016,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its position in Lithia Motors by 367.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 7,453 shares of the company’s stock worth $133,000 after acquiring an additional 5,859 shares in the last quarter. Stevens Capital Management LP acquired a new position in Lithia Motors during the 2nd quarter worth approximately $205,000. Point72 Hong Kong Ltd lifted its position in Lithia Motors by 293.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,265 shares of the company’s stock worth $214,000 after acquiring an additional 1,690 shares in the last quarter. MML Investors Services LLC acquired a new position in Lithia Motors during the 3rd quarter worth approximately $231,000. Finally, Janus Henderson Group PLC acquired a new position in Lithia Motors during the 3rd quarter worth approximately $234,000.
LAD stock opened at $81.59 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.23 and a debt-to-equity ratio of 1.07. Lithia Motors Inc has a 52-week low of $72.85 and a 52-week high of $127.99. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 0.66 and a beta of 1.38.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be issued a dividend of $0.29 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.16 annualized dividend and a yield of 1.42%. Lithia Motors’s dividend payout ratio is presently 13.83%.
LAD has been the topic of several recent research reports. Zacks Investment Research raised Lithia Motors from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. ValuEngine downgraded Lithia Motors from a “sell” rating to a “strong sell” rating in a report on Saturday, November 10th. TheStreet downgraded Lithia Motors from a “b-” rating to a “c+” rating in a report on Friday, September 21st. Craig Hallum restated a “buy” rating on shares of Lithia Motors in a report on Thursday, September 13th. Finally, Buckingham Research set a $106.00 price objective on Lithia Motors and gave the stock a “buy” rating in a report on Thursday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $103.80.
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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.
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