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

Iridian Asset Management LLC CT trimmed its stake in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 10.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,641 shares of the company's stock after selling 7,399 shares during the quarter. Lithia Motors comprises 4.5% of Iridian Asset Management LLC CT's holdings, making the stock its 5th biggest position. Iridian Asset Management LLC CT owned about 0.24% of Lithia Motors worth $20,850,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in shares of Lithia Motors by 132.9% in the 1st quarter. BNP Paribas Financial Markets now owns 19,138 shares of the company's stock worth $5,758,000 after purchasing an additional 10,920 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Lithia Motors during the second quarter valued at $607,000. Comerica Bank boosted its position in shares of Lithia Motors by 89.0% in the 1st quarter. Comerica Bank now owns 29,473 shares of the company's stock valued at $8,867,000 after purchasing an additional 13,875 shares during the period. Russell Investments Group Ltd. increased its stake in Lithia Motors by 11.2% in the 1st quarter. Russell Investments Group Ltd. now owns 203,062 shares of the company's stock worth $61,318,000 after purchasing an additional 20,416 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Lithia Motors by 39.0% during the 1st quarter. Van ECK Associates Corp now owns 14,737 shares of the company's stock worth $4,434,000 after buying an additional 4,133 shares during the period.

Lithia Motors Stock Down 2.3 %

Shares of LAD traded down $7.76 during midday trading on Thursday, reaching $332.15. 221,195 shares of the stock were exchanged, compared to its average volume of 256,883. The company has a market cap of $8.88 billion, a price-to-earnings ratio of 11.47 and a beta of 1.64. The company has a quick ratio of 0.30, a current ratio of 1.19 and a debt-to-equity ratio of 1.26. Lithia Motors, Inc. has a 12-month low of $236.16 and a 12-month high of $347.60. The firm has a 50 day simple moving average of $303.18 and a 200-day simple moving average of $276.70.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $8.21 earnings per share 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 analyst estimates of $9.46 billion. Lithia Motors had a net margin of 2.52% and a return on equity of 13.84%. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $9.25 earnings per share. Research analysts forecast that Lithia Motors, Inc. will post 28.62 EPS for the current year.

Lithia Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, November 8th. Lithia Motors's payout ratio is presently 7.24%.

Analyst Ratings Changes

LAD has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Lithia Motors from $315.00 to $375.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 10th. Guggenheim boosted their target price on shares of Lithia Motors from $350.00 to $380.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Stephens raised their target price on Lithia Motors from $360.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Wells Fargo & Company upped their price target 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, Bank of America increased their price objective on Lithia Motors from $320.00 to $330.00 and gave the stock a "buy" rating in a research note on Monday, July 22nd. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Lithia Motors presently has an average rating of "Moderate Buy" and a consensus price target of $350.80.

Insider Buying and Selling

In other Lithia Motors news, Director Shauna Mcintyre sold 306 shares of the business's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $289.65, for a total value of $88,632.90. Following the completion of the sale, the director now owns 1,922 shares of the company's stock, valued at $556,707.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Shauna Mcintyre sold 306 shares of Lithia Motors stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $289.65, for a total value of $88,632.90. Following the transaction, the director now owns 1,922 shares of the company's stock, valued at $556,707.30. 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. Also, COO Chris Holzshu sold 8,520 shares of the company's stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $335.21, for a total transaction of $2,855,989.20. Following the sale, the chief operating officer now directly owns 32,054 shares of the company's stock, valued at approximately $10,744,821.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,541 shares of company stock worth $9,390,606. Corporate insiders own 1.79% of the company's stock.

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.