Wedge Capital Management L L P NC Purchases New Position in Lithia Motors, Inc. (NYSE:LAD)

Wedge Capital Management L L P NC purchased a new stake in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 130,109 shares of the company's stock, valued at approximately $46,505,000. Wedge Capital Management L L P NC owned about 0.49% of Lithia Motors at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in LAD. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Lithia Motors by 14.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,700,893 shares of the company's stock worth $429,390,000 after purchasing an additional 217,867 shares during the period. Verition Fund Management LLC increased its stake in shares of Lithia Motors by 1,960.2% in the third quarter. Verition Fund Management LLC now owns 126,909 shares of the company's stock valued at $40,311,000 after buying an additional 120,749 shares during the period. HITE Hedge Asset Management LLC increased its stake in shares of Lithia Motors by 5,233.4% in the third quarter. HITE Hedge Asset Management LLC now owns 107,629 shares of the company's stock valued at $34,187,000 after buying an additional 105,611 shares during the period. Bridges Investment Management Inc. boosted its holdings in Lithia Motors by 118.9% in the second 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, FMR LLC boosted its holdings in Lithia Motors by 12.8% in the third quarter. FMR LLC now owns 753,067 shares of the company's stock valued at $239,204,000 after acquiring an additional 85,579 shares during the last quarter.

Insider Transactions at Lithia Motors

In other news, CEO Bryan B. Deboer sold 15,846 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 207,924 shares of the company's stock, valued at $80,408,369.28. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gary M. Glandon sold 242 shares of the stock in a transaction that occurred 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 approximately $661,964.94. The trade was a 12.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,290 shares of company stock valued at $17,959,596 over the last 90 days. Company insiders own 1.79% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LAD shares. Stephens increased 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. Benchmark began coverage on Lithia Motors in a research note on Wednesday, January 8th. They set a "buy" rating and a $400.00 price target for the company. StockNews.com upgraded Lithia Motors from a "sell" rating to a "hold" rating in a research note on Tuesday. Guggenheim raised their target price on Lithia Motors from $380.00 to $418.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company lifted their price target on Lithia Motors from $343.00 to $346.00 and gave the company an "equal weight" rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $357.40.

Lithia Motors Stock Performance

LAD traded down $6.76 during midday trading on Friday, reaching $351.33. The company had a trading volume of 301,973 shares, compared to its average volume of 230,324. The company has a quick ratio of 0.27, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The business has a 50-day moving average of $368.56 and a two-hundred day moving average of $319.42. The company has a market cap of $9.36 billion, a P/E ratio of 11.99, a P/E/G ratio of 4.77 and a beta of 1.67. Lithia Motors, Inc. has a 1 year low of $243.00 and a 1 year high of $405.67.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $8.21 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 12.95% and a net margin of 2.31%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.25 earnings per share. As a group, 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Friday, November 8th. Lithia Motors's dividend payout ratio (DPR) is 7.24%.

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.