Verition Fund Management LLC Purchases 120,749 Shares of Lithia Motors, Inc. (NYSE:LAD)

Verition Fund Management LLC increased its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 1,960.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,909 shares of the company's stock after purchasing an additional 120,749 shares during the period. Verition Fund Management LLC owned 0.48% of Lithia Motors worth $40,311,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LAD. Cetera Investment Advisers raised its stake in shares of Lithia Motors by 1.3% in the 2nd quarter. Cetera Investment Advisers now owns 3,862 shares of the company's stock worth $975,000 after buying an additional 48 shares in the last quarter. Signaturefd LLC grew its holdings in Lithia Motors by 23.9% during the third quarter. Signaturefd LLC now owns 249 shares of the company's stock worth $79,000 after acquiring an additional 48 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Lithia Motors by 12.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 459 shares of the company's stock worth $116,000 after acquiring an additional 52 shares in the last quarter. Versor Investments LP lifted its holdings in Lithia Motors by 7.0% in the 3rd quarter. Versor Investments LP now owns 856 shares of the company's stock valued at $272,000 after acquiring an additional 56 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Lithia Motors by 83.6% during the 2nd quarter. Blue Trust Inc. now owns 134 shares of the company's stock valued at $34,000 after purchasing an additional 61 shares in the last quarter.

Insider Transactions at Lithia Motors

In other news, CEO Bryan B. Deboer sold 15,846 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer now owns 207,924 shares in the company, valued at approximately $80,408,369.28. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tina Miller sold 1,000 shares of Lithia Motors stock in a transaction on 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 sale, the chief financial officer now directly owns 10,403 shares of the company's stock, valued at approximately $4,085,466.16. The trade was a 8.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,067 shares of company stock valued at $20,933,294. 1.79% of the stock is owned by insiders.

Lithia Motors Stock Up 0.2 %

NYSE LAD traded up $0.74 during trading on Friday, reaching $386.90. 84,703 shares of the company's stock were exchanged, compared to its average volume of 261,231. The company has a current ratio of 1.18, a quick ratio of 0.27 and a debt-to-equity ratio of 1.23. Lithia Motors, Inc. has a fifty-two week low of $243.00 and a fifty-two week high of $405.67. The company's fifty day simple moving average is $340.34 and its 200-day simple moving average is $293.68. The firm has a market capitalization of $10.31 billion, a PE ratio of 13.21, a P/E/G ratio of 6.34 and a beta of 1.63.

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. The business had revenue of $9.22 billion during the quarter, compared to analysts' expectations of $9.46 billion. Lithia Motors had a net margin of 2.31% and a return on equity of 12.95%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company posted $9.25 earnings per share. Sell-side analysts predict that Lithia Motors, Inc. will post 29.42 EPS for the current year.

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend 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 currently 7.24%.

Analyst Ratings Changes

A number of research firms recently commented on LAD. StockNews.com upgraded shares of Lithia Motors from a "sell" rating to a "hold" rating in a report on Friday. Citigroup increased their price objective on Lithia Motors from $280.00 to $320.00 and gave the company a "neutral" rating in a research report on Friday, September 27th. Stephens lifted their target price on Lithia Motors from $360.00 to $405.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Guggenheim boosted their target price on Lithia Motors from $380.00 to $418.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Finally, The Goldman Sachs Group increased their price target on Lithia Motors from $300.00 to $335.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Lithia Motors currently has a consensus rating of "Moderate Buy" and a consensus target price of $357.60.

Lithia Motors 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.