Lithia Motors, Inc. (NYSE:LAD) Stock Holdings Lessened by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT lessened its stake in Lithia Motors, Inc. (NYSE:LAD) by 10.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 65,641 shares of the company’s stock after selling 7,399 shares during the quarter. Lithia Motors comprises approximately 4.5% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 5th biggest position. Iridian Asset Management LLC CT’s holdings in Lithia Motors were worth $20,850,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its stake in shares of Lithia Motors by 4.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,489 shares of the company’s stock worth $749,000 after purchasing an additional 98 shares in the last quarter. State of Michigan Retirement System boosted its holdings in Lithia Motors by 3.0% in the 1st quarter. State of Michigan Retirement System now owns 6,787 shares of the company’s stock worth $2,042,000 after buying an additional 200 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its stake in Lithia Motors by 2.2% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 3,468 shares of the company’s stock worth $1,043,000 after buying an additional 73 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Lithia Motors by 39.0% during the first quarter. Van ECK Associates Corp now owns 14,737 shares of the company’s stock valued at $4,434,000 after acquiring an additional 4,133 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Lithia Motors by 132.9% in the first quarter. BNP Paribas Financial Markets now owns 19,138 shares of the company’s stock valued at $5,758,000 after acquiring an additional 10,920 shares in the last quarter.

Lithia Motors Trading Down 0.4 %

Shares of Lithia Motors stock opened at $339.91 on Thursday. The stock has a 50 day moving average of $302.12 and a 200 day moving average of $276.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.30 and a current ratio of 1.19. The firm has a market capitalization of $9.09 billion, a price-to-earnings ratio of 11.60 and a beta of 1.64. Lithia Motors, Inc. has a fifty-two week low of $236.16 and a fifty-two week high of $347.60.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share for the quarter, topping analysts’ consensus estimates of $7.60 by $0.61. The business had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.46 billion. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $9.25 EPS. As a group, research analysts predict that Lithia Motors, Inc. will post 28.62 earnings per share for the current year.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, November 8th. Lithia Motors’s dividend payout ratio (DPR) is 7.24%.

Insider Transactions at Lithia Motors

In related news, COO Chris Holzshu sold 8,520 shares of Lithia Motors stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $335.21, for a total value of $2,855,989.20. Following the completion of the sale, the chief operating officer now owns 32,054 shares in the company, valued at approximately $10,744,821.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Shauna Mcintyre sold 306 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $289.65, for a total transaction of $88,632.90. Following the transaction, the director now owns 1,922 shares of the company’s stock, valued at approximately $556,707.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Chris Holzshu sold 8,520 shares of Lithia Motors stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $335.21, for a total value of $2,855,989.20. Following the completion of the transaction, the chief operating officer now directly owns 32,054 shares of the company’s stock, valued at approximately $10,744,821.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,541 shares of company stock worth $9,390,606. 1.79% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LAD has been the subject of several recent research reports. Morgan Stanley raised Lithia Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $225.00 to $310.00 in a research note on Wednesday, September 25th. Citigroup increased their target price on shares of Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Stephens boosted their price target on shares of Lithia Motors from $360.00 to $405.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Bank of America increased their price objective on shares of Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Guggenheim upped their price target on Lithia Motors from $350.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $350.80.

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.