Alliancebernstein L.P. Sells 914 Shares of Lithia Motors, Inc. (NYSE:LAD)

Alliancebernstein L.P. trimmed its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 36,098 shares of the company's stock after selling 914 shares during the period. Alliancebernstein L.P. owned approximately 0.14% of Lithia Motors worth $12,903,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Lithia Motors during the 4th quarter worth about $152,752,000. Egerton Capital UK LLP acquired a new stake in shares of Lithia Motors during the fourth quarter worth approximately $113,250,000. Madison Investment Advisors LLC bought a new position in shares of Lithia Motors in the fourth quarter valued at approximately $91,190,000. Wedge Capital Management L L P NC acquired a new position in shares of Lithia Motors in the 4th quarter worth approximately $46,505,000. Finally, Royal London Asset Management Ltd. increased its holdings in Lithia Motors by 18.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 362,022 shares of the company's stock valued at $129,398,000 after purchasing an additional 55,142 shares in the last quarter.

Wall Street Analysts Forecast Growth

LAD has been the subject of several research reports. StockNews.com raised Lithia Motors from a "sell" rating to a "hold" rating in a research note on Tuesday, January 14th. Benchmark reiterated a "buy" rating and issued a $400.00 price objective on shares of Lithia Motors in a research report on Thursday, February 20th. JPMorgan Chase & Co. cut 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 boosted their price target 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. Finally, Wells Fargo & Company increased their price objective on shares of Lithia Motors from $346.00 to $397.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. Five 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $365.91.

Remove Ads

Insider Activity at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 248 shares of Lithia Motors stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $290.84, for a total transaction of $72,128.32. Following the transaction, the director now owns 1,297 shares of the company's stock, valued at $377,219.48. This trade represents a 16.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam Chamberlain sold 403 shares of Lithia Motors stock in a transaction on Friday, February 14th. The stock was sold at an average price of $384.28, for a total value of $154,864.84. Following the sale, the chief operating officer now owns 2,605 shares in the company, valued at $1,001,049.40. This trade represents a 13.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,246 shares of company stock valued at $433,724 over the last 90 days. Insiders own 0.87% of the company's stock.

Lithia Motors Trading Down 0.3 %

Lithia Motors stock traded down $1.01 during mid-day trading on Tuesday, hitting $289.97. 26,283 shares of the stock were exchanged, compared to its average volume of 312,067. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 4.65 and a beta of 1.61. Lithia Motors, Inc. has a 12 month low of $243.00 and a 12 month 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 firm's fifty day simple moving average is $321.16 and its two-hundred day simple moving average is $342.27.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $7.79 earnings per share for the quarter, topping analysts' consensus estimates of $7.33 by $0.46. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. Analysts forecast that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.73%. Lithia Motors's dividend payout ratio is presently 7.14%.

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.