Point72 Asia Singapore Pte. Ltd. Trims Position in Lithia Motors, Inc. (NYSE:LAD)

Point72 Asia Singapore Pte. Ltd. cut its position in Lithia Motors, Inc. (NYSE:LAD) by 72.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 553 shares of the company’s stock after selling 1,428 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Lithia Motors were worth $197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Redwood Investment Management LLC purchased a new stake in shares of Lithia Motors in the fourth quarter worth $1,432,000. ProShare Advisors LLC increased its stake in shares of Lithia Motors by 6.8% in the fourth quarter. ProShare Advisors LLC now owns 1,245 shares of the company’s stock worth $445,000 after purchasing an additional 79 shares in the last quarter. Quantinno Capital Management LP grew its stake in Lithia Motors by 92.6% during the fourth quarter. Quantinno Capital Management LP now owns 2,088 shares of the company’s stock valued at $746,000 after acquiring an additional 1,004 shares in the last quarter. Parkwood LLC grew its stake in Lithia Motors by 1.7% during the fourth quarter. Parkwood LLC now owns 22,587 shares of the company’s stock valued at $8,073,000 after acquiring an additional 370 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in Lithia Motors during the fourth quarter valued at $1,263,000.

Wall Street Analysts Forecast Growth

LAD has been the subject of several research analyst reports. Evercore ISI raised their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Wells Fargo & Company cut their target price on shares of Lithia Motors from $397.00 to $308.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Guggenheim cut their target price on shares of Lithia Motors from $417.00 to $356.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Benchmark reaffirmed a “buy” rating and set a $400.00 target price on shares of Lithia Motors in a research note on Thursday, February 20th. Finally, Citigroup raised shares of Lithia Motors from a “neutral” rating to a “buy” rating and cut their target price for the company from $415.00 to $375.00 in a research note on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lithia Motors currently has an average rating of “Moderate Buy” and a consensus price target of $361.20.

Lithia Motors Price Performance

LAD stock opened at $323.64 on Friday. Lithia Motors, Inc. has a 52 week low of $243.04 and a 52 week high of $405.68. The company has a quick ratio of 0.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.22. The company has a fifty day simple moving average of $297.42 and a two-hundred day simple moving average of $339.25. The firm has a market capitalization of $8.42 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 4.65 and a beta of 1.48.

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

Lithia Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, May 9th. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.53. Lithia Motors’s dividend payout ratio (DPR) is 6.93%.

Insider Transactions at Lithia Motors

In other news, Director Congdon Stacy Loretz sold 270 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total value of $80,676.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shauna Mcintyre sold 337 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $295.94, for a total transaction of $99,731.78. Following the completion of the sale, the director now owns 1,632 shares of the company’s stock, valued at $482,974.08. This trade represents a 17.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 855 shares of company stock worth $252,536. 0.87% of the stock is currently 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.