Lithia Motors, Inc. (NYSE:LAD) Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC reduced its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 12.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,882 shares of the company's stock after selling 30,808 shares during the quarter. Lithia Motors accounts for approximately 1.2% of Eventide Asset Management LLC's investment portfolio, making the stock its 28th biggest holding. Eventide Asset Management LLC owned approximately 0.81% of Lithia Motors worth $68,255,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its position in 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 purchasing an additional 61 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Lithia Motors during the 3rd quarter worth approximately $35,000. McClarren Financial Advisors Inc. lifted its position in shares of Lithia Motors by 12,500.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 252 shares of the company's stock valued at $64,000 after buying an additional 250 shares in the last quarter. Signaturefd LLC grew its stake in Lithia Motors by 23.9% in the 3rd quarter. Signaturefd LLC now owns 249 shares of the company's stock valued at $79,000 after acquiring an additional 48 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Lithia Motors in the 2nd quarter worth $80,000.

Lithia Motors Trading Up 0.2 %

Lithia Motors stock traded up $0.74 during trading on Friday, reaching $386.90. 84,703 shares of the company were exchanged, compared to its average volume of 261,231. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.27. The stock's 50 day simple moving average is $340.34 and its two-hundred day simple moving average is $293.68. The company has a market capitalization of $10.31 billion, a P/E ratio of 13.21, a PEG ratio of 6.34 and a beta of 1.63. Lithia Motors, Inc. has a 52-week low of $243.00 and a 52-week high of $405.67.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $8.21 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 business had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.46 billion. During the same quarter in the previous year, the firm earned $9.25 EPS. The company's quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts expect that Lithia Motors, Inc. will post 29.42 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.53 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.55%. Lithia Motors's dividend payout ratio (DPR) is 7.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Citigroup increased their price objective on shares of Lithia Motors from $280.00 to $320.00 and gave the company a "neutral" rating in a report on Friday, September 27th. StockNews.com raised shares of Lithia Motors from a "sell" rating to a "hold" rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on Lithia Motors from $375.00 to $405.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. 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 report on Thursday, October 24th. Finally, Guggenheim lifted their price target on Lithia Motors from $380.00 to $418.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Lithia Motors currently has a consensus rating of "Moderate Buy" and an average price target of $357.60.

Insider Transactions at Lithia Motors

In other Lithia Motors news, CFO Tina Miller sold 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $392.72, for a total transaction of $392,720.00. Following the completion of the transaction, the chief financial officer now owns 10,403 shares of the company's stock, valued at $4,085,466.16. This trade represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bryan B. Deboer sold 15,846 shares of Lithia Motors stock in a transaction dated Monday, November 11th. The shares were 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 approximately $80,408,369.28. This represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,067 shares of company stock worth $20,933,294 in the last 90 days. Insiders own 1.79% of the company's stock.

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.