Retirement Systems of Alabama lessened its stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,355 shares of the company's stock after selling 2,629 shares during the period. Retirement Systems of Alabama owned about 0.28% of Lithia Motors worth $26,219,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Lithia Motors by 30.5% during the fourth quarter. GAMMA Investing LLC now owns 167 shares of the company's stock worth $60,000 after buying an additional 39 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Lithia Motors by 1.3% during the 2nd quarter. Cetera Investment Advisers now owns 3,862 shares of the company's stock worth $975,000 after acquiring an additional 48 shares in the last quarter. Signaturefd LLC grew its position in shares of Lithia Motors by 23.9% during 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. M&T Bank Corp increased its stake in shares of Lithia Motors by 2.6% in the 3rd quarter. M&T Bank Corp now owns 1,911 shares of the company's stock valued at $607,000 after purchasing an additional 49 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Lithia Motors by 69.9% in the 4th quarter. UMB Bank n.a. now owns 124 shares of the company's stock worth $44,000 after purchasing an additional 51 shares during the period.
Insider Buying and Selling
In other news, insider Gary M. Glandon sold 242 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $382.86, for a total transaction of $92,652.12. Following the sale, the insider now owns 1,729 shares of the company's stock, valued at approximately $661,964.94. This represents a 12.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bryan B. Deboer sold 15,846 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $386.72, for a total value of $6,127,965.12. Following the sale, the chief executive officer now directly owns 207,924 shares in the company, valued at $80,408,369.28. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,770 shares of company stock valued at $15,103,607. Company insiders own 1.79% of the company's stock.
Lithia Motors Trading Down 2.0 %
Shares of LAD stock traded down $7.80 during trading on Friday, hitting $374.09. 257,373 shares of the stock traded hands, compared to its average volume of 418,502. Lithia Motors, Inc. has a 52-week low of $243.00 and a 52-week high of $405.67. 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 firm has a market capitalization of $9.97 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 4.90 and a beta of 1.67. The firm's fifty day moving average price is $363.81 and its 200-day moving average price is $331.25.
Wall Street Analysts Forecast Growth
Several analysts have commented on the company. Stephens raised their price objective on Lithia Motors from $360.00 to $405.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. StockNews.com raised shares of Lithia Motors from a "sell" rating to a "hold" rating in a report on Tuesday, January 14th. Benchmark assumed coverage on shares of Lithia Motors in a report on Wednesday, January 8th. They set a "buy" rating and a $400.00 price objective on the stock. Guggenheim boosted their target price on shares of Lithia Motors from $380.00 to $418.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Lithia Motors from $405.00 to $400.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Lithia Motors currently has a consensus rating of "Moderate Buy" and an average price target of $357.40.
Read Our Latest Stock Report on LAD
Lithia Motors Company Profile
(
Free Report)
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.
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