HITE Hedge Asset Management LLC Has $34.50 Million Holdings in Lithia Motors, Inc. (NYSE:LAD)

HITE Hedge Asset Management LLC trimmed its holdings in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 10.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,508 shares of the company's stock after selling 11,121 shares during the period. Lithia Motors comprises approximately 2.5% of HITE Hedge Asset Management LLC's holdings, making the stock its 14th largest holding. HITE Hedge Asset Management LLC owned about 0.36% of Lithia Motors worth $34,495,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in Lithia Motors during the 3rd quarter valued at $217,000. Tidal Investments LLC lifted its position in shares of Lithia Motors by 19.8% during the third quarter. Tidal Investments LLC now owns 3,927 shares of the company's stock worth $1,247,000 after purchasing an additional 648 shares during the last quarter. Franklin Resources Inc. grew its stake in Lithia Motors by 2.4% in the third quarter. Franklin Resources Inc. now owns 95,899 shares of the company's stock worth $29,585,000 after purchasing an additional 2,261 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Lithia Motors by 46.9% in the third quarter. Retirement Systems of Alabama now owns 75,984 shares of the company's stock valued at $24,136,000 after buying an additional 24,258 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Lithia Motors by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 259,916 shares of the company's stock valued at $82,560,000 after buying an additional 37,677 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating for the company in a report on Monday. Benchmark reiterated a "buy" rating and set a $400.00 target price on shares of Lithia Motors in a research note on Thursday, February 20th. StockNews.com upgraded shares of Lithia Motors from a "sell" rating to a "hold" rating in a research report on Tuesday, January 14th. Evercore ISI increased their price objective 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, 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 report on Thursday, March 27th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Lithia Motors currently has a consensus rating of "Moderate Buy" and a consensus target price of $357.82.

Lithia Motors Price Performance

NYSE:LAD traded down $4.19 during midday trading on Monday, hitting $284.36. 282,481 shares of the stock were exchanged, compared to its average volume of 312,510. Lithia Motors, Inc. has a one year low of $243.00 and a one year high of $405.68. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 4.65 and a beta of 1.61. The business has a 50-day moving average price of $312.31 and a two-hundred day moving average price of $341.42. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.22.

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

Lithia Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, March 7th. Lithia Motors's dividend payout ratio is currently 7.14%.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, insider Gary M. Glandon sold 325 shares of Lithia Motors stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $387.86, for a total transaction of $126,054.50. Following the completion of the sale, the insider now owns 1,665 shares of the company's stock, valued at $645,786.90. This trade represents a 16.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Adam Chamberlain sold 403 shares of the 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 of the company's stock, valued at approximately $1,001,049.40. This 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 in the last 90 days. 0.87% of the stock is currently owned by corporate insiders.

Lithia Motors Company 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.