Lithia Motors, Inc. (NYSE:LAD) Shares Sold by Royce & Associates LP

Posted by Defense World Staff on Aug 6th, 2023

Royce & Associates LP decreased its holdings in Lithia Motors, Inc. (NYSE:LAD – Free Report) by 33.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,000 shares of the company’s stock after selling 3,000 shares during the period. Royce & Associates LP’s holdings in Lithia Motors were worth $1,374,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MFN Partners Management LP grew its stake in shares of Lithia Motors by 29.3% in the 4th quarter. MFN Partners Management LP now owns 1,551,077 shares of the company’s stock valued at $317,568,000 after buying an additional 351,163 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Lithia Motors by 7.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,381,848 shares of the company’s stock worth $282,920,000 after purchasing an additional 92,555 shares during the period. State Street Corp boosted its position in shares of Lithia Motors by 3.8% during the 1st quarter. State Street Corp now owns 807,874 shares of the company’s stock worth $242,459,000 after purchasing an additional 29,352 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Lithia Motors by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 774,020 shares of the company’s stock worth $158,469,000 after purchasing an additional 12,144 shares during the period. Finally, Royal London Asset Management Ltd. boosted its position in shares of Lithia Motors by 11.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 655,386 shares of the company’s stock worth $134,239,000 after purchasing an additional 67,523 shares during the period. Institutional investors and hedge funds own 98.24% of the company’s stock.

Lithia Motors Price Performance

Shares of LAD opened at $300.28 on Friday. Lithia Motors, Inc. has a twelve month low of $180.00 and a twelve month high of $329.00. The firm’s fifty day simple moving average is $288.44 and its 200-day simple moving average is $254.82. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 7.51, a PEG ratio of 2.73 and a beta of 1.46. The company has a current ratio of 1.36, a quick ratio of 0.30 and a debt-to-equity ratio of 1.14.

Lithia Motors (NYSE:LAD – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $10.91 earnings per share for the quarter, beating analysts’ consensus estimates of $9.26 by $1.65. Lithia Motors had a net margin of 3.76% and a return on equity of 20.32%. The business had revenue of $8.11 billion for the quarter, compared to analyst estimates of $7.92 billion. During the same period last year, the business earned $12.18 EPS. The company’s revenue was up 12.0% on a year-over-year basis. Equities analysts forecast that Lithia Motors, Inc. will post 36.86 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, August 10th. This represents a $2.00 annualized dividend and a yield of 0.67%. Lithia Motors’s dividend payout ratio is currently 5.00%.

Insider Buying and Selling

In other news, CEO Bryan B. Deboer sold 8,815 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $308.47, for a total value of $2,719,163.05. Following the completion of the sale, the chief executive officer now directly owns 248,672 shares of the company’s stock, valued at $76,707,851.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider George N. Hines sold 1,490 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $219.55, for a total transaction of $327,129.50. Following the transaction, the insider now directly owns 5,142 shares in the company, valued at $1,128,926.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Bryan B. Deboer sold 8,815 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $308.47, for a total transaction of $2,719,163.05. Following the transaction, the chief executive officer now owns 248,672 shares in the company, valued at $76,707,851.84. The disclosure for this sale can be found here. Insiders have sold 39,657 shares of company stock worth $12,078,745 in the last ninety days. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LAD has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of Lithia Motors from $305.00 to $348.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Wells Fargo & Company increased their price objective on shares of Lithia Motors from $219.00 to $318.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 18th. Stephens raised their price target on shares of Lithia Motors from $365.00 to $385.00 in a research report on Thursday, July 27th. Citigroup raised their price target on shares of Lithia Motors from $245.00 to $340.00 and gave the company a “neutral” rating in a research report on Thursday, July 27th. Finally, StockNews.com began coverage on shares of Lithia Motors in a research report on Thursday, May 18th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $335.90.

Lithia Motors Profile

(Free Report)

Lithia Motors, Inc operates as an automotive retailer. The company operates through Domestic, Import, and Luxury segments. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells body and parts for the new vehicles under the Driveway and GreenCars brand names.