By otakuyassine3@gmail.com 
M&T Bank Corp cut its holdings in Lithia Motors, Inc. (NYSE:LAD – Free Report) by 14.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,636 shares of the company’s stock after selling 275 shares during the period. M&T Bank Corp’s holdings in Lithia Motors were worth $585,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of LAD. Wedge Capital Management L L P NC acquired a new stake in shares of Lithia Motors in the fourth quarter valued at approximately $46,505,000. Verition Fund Management LLC boosted its position in Lithia Motors by 1,960.2% during the third quarter. Verition Fund Management LLC now owns 126,909 shares of the company’s stock worth $40,311,000 after acquiring an additional 120,749 shares during the last quarter. HITE Hedge Asset Management LLC boosted its position in Lithia Motors by 5,233.4% during the third quarter. HITE Hedge Asset Management LLC now owns 107,629 shares of the company’s stock worth $34,187,000 after acquiring an additional 105,611 shares during the last quarter. FMR LLC boosted its position in Lithia Motors by 12.8% during the third quarter. FMR LLC now owns 753,067 shares of the company’s stock worth $239,204,000 after acquiring an additional 85,579 shares during the last quarter. Finally, Natixis Advisors LLC acquired a new stake in Lithia Motors during the third quarter worth approximately $26,071,000.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on LAD. Evercore ISI raised their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Guggenheim raised their target price on shares of Lithia Motors from $380.00 to $418.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company raised their target price on shares of Lithia Motors from $346.00 to $397.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on shares of Lithia Motors from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, Benchmark reaffirmed a “buy” rating and set a $400.00 price target on shares of Lithia Motors in a research note on Thursday, February 20th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $371.36.
Check Out Our Latest Stock Analysis on LAD
Insider Activity
In related news, insider Gary M. Glandon sold 325 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $387.86, for a total transaction of $126,054.50. Following the completion of the sale, the insider now directly owns 1,665 shares of the company’s stock, valued at approximately $645,786.90. This trade represents a 16.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Adam Chamberlain sold 403 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $384.28, for a total transaction of $154,864.84. Following the sale, the chief operating officer now directly owns 2,605 shares of the company’s stock, valued at approximately $1,001,049.40. The trade was a 13.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.79% of the company’s stock.
Lithia Motors Stock Performance
Shares of LAD stock opened at $298.50 on Thursday. The company’s fifty day simple moving average is $352.73 and its 200-day simple moving average is $341.96. Lithia Motors, Inc. has a 52 week low of $243.00 and a 52 week high of $405.67. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.22. The company has a market cap of $7.85 billion, a PE ratio of 10.06, a P/E/G ratio of 4.65 and a beta of 1.69.
Lithia Motors (NYSE:LAD – Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $7.79 EPS for the quarter, beating analysts’ consensus estimates of $7.33 by $0.46. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. As a group, equities research analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current year.
Lithia Motors Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, March 7th. Lithia Motors’s dividend payout ratio is presently 7.14%.
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.
Further Reading
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