Financial Strategies Group Inc. Acquires Shares of 1,631 Lithia Motors, Inc. (NYSE:LAD)

Financial Strategies Group Inc. bought a new stake in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,631 shares of the company's stock, valued at approximately $503,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Consolidated Planning Corp bought a new position in shares of Lithia Motors during the 3rd quarter valued at $590,000. River Road Asset Management LLC grew its stake in shares of Lithia Motors by 27.5% during the third quarter. River Road Asset Management LLC now owns 365,184 shares of the company's stock valued at $115,997,000 after buying an additional 78,784 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Lithia Motors by 17.2% in the third quarter. QRG Capital Management Inc. now owns 2,071 shares of the company's stock worth $658,000 after purchasing an additional 304 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Lithia Motors by 18.0% in the third quarter. Van ECK Associates Corp now owns 19,375 shares of the company's stock worth $6,497,000 after buying an additional 2,952 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Lithia Motors by 124.6% during the third quarter. Harbor Capital Advisors Inc. now owns 5,401 shares of the company's stock valued at $1,716,000 after acquiring an additional 2,996 shares during the last quarter.

Insider Buying and Selling

In related news, COO Chris Holzshu sold 8,520 shares of the firm's stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $335.21, for a total value of $2,855,989.20. Following the completion of the transaction, the chief operating officer now directly owns 32,054 shares of the company's stock, valued at approximately $10,744,821.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Lithia Motors news, Director Sidney B. Deboer sold 10,777 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $275.93, for a total transaction of $2,973,697.61. Following the sale, the director now directly owns 35,352 shares in the company, valued at $9,754,677.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Chris Holzshu sold 8,520 shares of Lithia Motors stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $335.21, for a total value of $2,855,989.20. Following the completion of the transaction, the chief operating officer now owns 32,054 shares of the company's stock, valued at approximately $10,744,821.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,235 shares of company stock worth $9,301,973. Corporate insiders own 1.79% of the company's stock.

Lithia Motors Stock Performance

NYSE LAD traded up $2.34 on Friday, hitting $371.36. 183,678 shares of the company traded hands, compared to its average volume of 258,431. The company has a current ratio of 1.18, a quick ratio of 0.27 and a debt-to-equity ratio of 1.23. The business's 50 day moving average price is $309.57 and its 200-day moving average price is $280.34. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 12.58 and a beta of 1.63. Lithia Motors, Inc. has a 52-week low of $243.00 and a 52-week high of $375.15.

Lithia Motors (NYSE:LAD - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.22 billion during the quarter, compared to analysts' expectations of $9.46 billion. During the same quarter last year, the business posted $9.25 earnings per share. The firm's revenue was up 11.4% on a year-over-year basis. Equities analysts expect that Lithia Motors, Inc. will post 28.99 earnings per share for the current year.

Lithia Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be issued a $0.53 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.57%. Lithia Motors's dividend payout ratio (DPR) is 7.24%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley upgraded shares of Lithia Motors from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $225.00 to $310.00 in a report on Wednesday, September 25th. Bank of America raised their price objective on shares of Lithia Motors from $320.00 to $330.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. Stephens upped their target price on Lithia Motors from $360.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Wells Fargo & Company raised their target price 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. Finally, Citigroup upped their price target on Lithia Motors from $280.00 to $320.00 and gave the stock a "neutral" rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Lithia Motors currently has a consensus rating of "Hold" and a consensus price target of $353.80.

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.