Castleark Management LLC Makes New $2.72 Million Investment in Lithia Motors, Inc. (NYSE:LAD)

Castleark Management LLC purchased a new position in Lithia Motors, Inc. (NYSE:LAD - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,570 shares of the company's stock, valued at approximately $2,722,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Cetera Investment Advisers boosted its stake in shares of Lithia Motors by 1.3% in the second quarter. Cetera Investment Advisers now owns 3,862 shares of the company's stock worth $975,000 after acquiring an additional 48 shares during the period. Signaturefd LLC grew its holdings in Lithia Motors by 23.9% during the 3rd quarter. Signaturefd LLC now owns 249 shares of the company's stock valued at $79,000 after buying an additional 48 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Lithia Motors by 12.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 459 shares of the company's stock valued at $116,000 after buying an additional 52 shares during the last quarter. Versor Investments LP lifted its holdings in shares of Lithia Motors by 7.0% in the third quarter. Versor Investments LP now owns 856 shares of the company's stock worth $272,000 after buying an additional 56 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Lithia Motors by 83.6% during the second quarter. Blue Trust Inc. now owns 134 shares of the company's stock worth $34,000 after acquiring an additional 61 shares during the last quarter.

Lithia Motors Trading Up 0.3 %

Shares of Lithia Motors stock traded up $1.09 during trading on Friday, hitting $377.98. The stock had a trading volume of 153,327 shares, compared to its average volume of 288,735. The stock has a market cap of $10.07 billion, a PE ratio of 12.90, a PEG ratio of 6.28 and a beta of 1.65. Lithia Motors, Inc. has a 12 month low of $243.00 and a 12 month high of $405.67. The firm's fifty day simple moving average is $347.18 and its 200-day simple moving average is $297.79. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.27.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.60 by $0.61. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The business had revenue of $9.22 billion during the quarter, compared to analyst estimates of $9.46 billion. During the same quarter in the previous year, the business earned $9.25 earnings per share. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, sell-side analysts expect that Lithia Motors, Inc. will post 29.42 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.56%. Lithia Motors's dividend payout ratio (DPR) is 7.24%.

Insider Transactions at Lithia Motors

In other Lithia Motors news, insider Gary M. Glandon sold 242 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $382.86, for a total value of $92,652.12. Following the completion of the sale, the insider now directly owns 1,729 shares in the company, valued at approximately $661,964.94. This represents a 12.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Tina Miller sold 1,000 shares of the firm's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $392.72, for a total value of $392,720.00. Following the transaction, the chief financial officer now owns 10,403 shares in the company, valued at approximately $4,085,466.16. This represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,067 shares of company stock worth $20,933,294. 1.79% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LAD has been the topic of several research analyst reports. Morgan Stanley upgraded shares of Lithia Motors from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $225.00 to $310.00 in a research note on Wednesday, September 25th. Wells Fargo & Company increased their price target on Lithia Motors from $299.00 to $343.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. StockNews.com upgraded Lithia Motors from a "sell" rating to a "hold" rating in a research report on Friday, November 29th. Citigroup upped their price target on shares of Lithia Motors from $280.00 to $320.00 and gave the company a "neutral" rating in a research note on Friday, September 27th. Finally, Guggenheim increased their price objective on shares of Lithia Motors from $380.00 to $418.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $357.60.

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.