Clearbridge Investments LLC Sells 2,635 Shares of Lithia Motors, Inc. (NYSE:LAD)

Clearbridge Investments LLC trimmed its position in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,262 shares of the company's stock after selling 2,635 shares during the period. Clearbridge Investments LLC owned 0.28% of Lithia Motors worth $26,544,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Lithia Motors by 2.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,804 shares of the company's stock valued at $1,844,000 after buying an additional 114 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Lithia Motors by 0.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 68,448 shares of the company's stock valued at $21,742,000 after acquiring an additional 176 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Lithia Motors by 4.0% during the 3rd quarter. Captrust Financial Advisors now owns 2,687 shares of the company's stock valued at $853,000 after acquiring an additional 104 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Lithia Motors by 523.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,981 shares of the company's stock worth $629,000 after purchasing an additional 1,663 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Lithia Motors during the third quarter worth about $540,000.

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Lithia Motors Trading Down 0.4 %

Lithia Motors stock traded down $1.01 during trading hours on Friday, reaching $281.31. The company had a trading volume of 583,799 shares, compared to its average volume of 307,866. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.28. Lithia Motors, Inc. has a 12-month low of $243.00 and a 12-month high of $405.68. The company has a 50-day moving average price of $334.52 and a 200 day moving average price of $343.74. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 9.48, a P/E/G ratio of 4.65 and a beta of 1.61.

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

Lithia Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, March 7th. Lithia Motors's dividend payout ratio (DPR) is 7.14%.

Insider Transactions at Lithia Motors

In other news, COO Adam Chamberlain sold 403 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $384.28, for a total value of $154,864.84. Following the completion of the sale, the chief operating officer now directly owns 2,605 shares of the company's stock, valued at approximately $1,001,049.40. This trade represents a 13.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Congdon Stacy Loretz sold 270 shares of Lithia Motors stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total transaction of $80,676.00. Following the sale, the director now directly owns 1,213 shares in the company, valued at $362,444.40. The trade was a 18.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,246 shares of company stock worth $433,724. Company insiders own 0.87% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Lithia Motors from $346.00 to $397.00 and gave the company an "equal weight" rating in a research report on Thursday, February 13th. Evercore ISI upped their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price target on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. StockNews.com upgraded Lithia Motors from a "sell" rating to a "hold" rating in a research report on Tuesday, January 14th. Finally, Benchmark restated a "buy" rating and issued a $400.00 target price on shares of Lithia Motors in a research report on Thursday, February 20th. Five 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $365.91.

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.