Lithia Motors, Inc. (NYSE:LAD) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. reduced its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 39.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 137,269 shares of the company’s stock after selling 90,400 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.52% of Lithia Motors worth $49,064,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Atlas Capital Advisors Inc. purchased a new stake in shares of Lithia Motors during the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. acquired a new stake in shares of Lithia Motors during the fourth quarter worth about $35,000. UMB Bank n.a. increased its position in shares of Lithia Motors by 69.9% during the fourth quarter. UMB Bank n.a. now owns 124 shares of the company’s stock worth $44,000 after purchasing an additional 51 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Lithia Motors by 33.9% during the fourth quarter. V Square Quantitative Management LLC now owns 146 shares of the company’s stock worth $52,000 after purchasing an additional 37 shares in the last quarter. Finally, Rakuten Securities Inc. increased its position in shares of Lithia Motors by 1,420.0% during the fourth quarter. Rakuten Securities Inc. now owns 152 shares of the company’s stock worth $54,000 after purchasing an additional 142 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LAD shares. Benchmark restated a “buy” rating and set a $400.00 target price on shares of Lithia Motors in a research report on Thursday, February 20th. JPMorgan Chase & Co. lowered their target price on shares of Lithia Motors from $420.00 to $360.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Evercore ISI increased their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group dropped their price target on Lithia Motors from $385.00 to $328.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Finally, Citigroup upgraded Lithia Motors from a “neutral” rating to a “buy” rating and dropped their price target for the company from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Lithia Motors presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.20.

Lithia Motors Trading Down 0.8%

NYSE:LAD opened at $320.42 on Friday. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 4.65 and a beta of 1.48. Lithia Motors, Inc. has a 1 year low of $243.04 and a 1 year high of $405.68. The stock has a fifty day moving average price of $296.80 and a two-hundred day moving average price of $339.37. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.28 and a current ratio of 1.19.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $7.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.77 by ($0.11). The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.11 EPS. As a group, sell-side analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.20 dividend on an annualized basis and a yield of 0.69%. This is an increase from Lithia Motors’s previous quarterly dividend of $0.53. Lithia Motors’s payout ratio is currently 6.93%.

Insider Buying and Selling

In other Lithia Motors news, Director Shauna Mcintyre sold 248 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.84, for a total transaction of $72,128.32. Following the completion of the transaction, the director now directly owns 1,297 shares in the company, valued at approximately $377,219.48. This trade represents a 16.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Congdon Stacy Loretz sold 270 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total value of $80,676.00. Following the sale, the director now owns 1,213 shares in the company, valued at approximately $362,444.40. This trade represents a 18.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 855 shares of company stock valued at $252,536. 0.87% of the stock is owned by insiders.

About Lithia Motors

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.