Lithia Motors, Inc. (NYSE:LAD) Holdings Lifted by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC lifted its stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 5,233.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 107,629 shares of the company's stock after purchasing an additional 105,611 shares during the quarter. Lithia Motors comprises 3.9% of HITE Hedge Asset Management LLC's portfolio, making the stock its 4th biggest holding. HITE Hedge Asset Management LLC owned about 0.40% of Lithia Motors worth $34,187,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of LAD. Versor Investments LP lifted its stake in 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 purchasing an additional 56 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Lithia Motors during the 2nd quarter valued at $607,000. Westwood Holdings Group Inc. grew its position in Lithia Motors by 22.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 70,405 shares of the company's stock valued at $17,774,000 after acquiring an additional 13,126 shares during the last quarter. Bridges Investment Management Inc. grew its position in Lithia Motors by 118.9% in the 2nd quarter. Bridges Investment Management Inc. now owns 160,860 shares of the company's stock valued at $40,609,000 after acquiring an additional 87,362 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in Lithia Motors by 46.1% in the second quarter. Quantbot Technologies LP now owns 10,496 shares of the company's stock worth $2,650,000 after purchasing an additional 3,313 shares during the period.

Insider Activity

In other news, insider Gary M. Glandon sold 242 shares of Lithia Motors stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $382.86, for a total value of $92,652.12. Following the transaction, the insider now directly owns 1,729 shares of the company's stock, valued at $661,964.94. The trade was a 12.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bryan B. Deboer sold 15,846 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $386.72, for a total transaction of $6,127,965.12. Following the sale, the chief executive officer now owns 207,924 shares of the company's stock, valued at $80,408,369.28. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,067 shares of company stock worth $20,933,294. 1.79% of the stock is currently owned by corporate insiders.

Lithia Motors Trading Down 0.8 %

LAD stock traded down $2.97 during mid-day trading on Tuesday, hitting $384.33. 398,194 shares of the company were exchanged, compared to its average volume of 262,457. The business has a fifty day simple moving average of $341.95 and a 200-day simple moving average of $294.81. The company has a quick ratio of 0.27, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. Lithia Motors, Inc. has a 12-month low of $243.00 and a 12-month high of $405.67. The firm has a market capitalization of $10.24 billion, a P/E ratio of 13.12, a PEG ratio of 6.36 and a beta of 1.65.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $9.22 billion for the quarter, compared to the consensus estimate of $9.46 billion. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The company's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.25 EPS. On average, equities research analysts predict that Lithia Motors, Inc. will post 29.42 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, November 8th. Lithia Motors's dividend payout ratio is presently 7.24%.

Analysts Set New Price Targets

LAD has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Lithia Motors from a "sell" rating to a "hold" rating in a report on Friday. Wells Fargo & Company upped their target price on shares of Lithia Motors from $299.00 to $343.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on Lithia Motors from $375.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Stephens raised their price objective on Lithia Motors from $360.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Finally, Guggenheim upped their target price on Lithia Motors from $380.00 to $418.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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.