Assenagon Asset Management S.A. Has $276,000 Stock Holdings in Lithia Motors, Inc. (NYSE:LAD)

Assenagon Asset Management S.A. decreased its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 48.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,095 shares of the company’s stock after selling 1,034 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Lithia Motors were worth $276,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in Lithia Motors in the fourth quarter worth $49,000. Rise Advisors LLC increased its position in shares of Lithia Motors by 80.2% in the 1st quarter. Rise Advisors LLC now owns 191 shares of the company’s stock valued at $57,000 after buying an additional 85 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Lithia Motors during the 4th quarter worth $67,000. Mather Group LLC. bought a new position in Lithia Motors during the first quarter worth about $114,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Lithia Motors by 5,785.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 412 shares of the company’s stock valued at $135,000 after acquiring an additional 405 shares during the period.

Insider Activity

In related news, Director Sidney B. Deboer sold 11,938 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the transaction, the director now directly owns 46,129 shares in the company, valued at $13,417,080.94. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the completion of the transaction, the director now owns 46,129 shares in the company, valued at $13,417,080.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shauna Mcintyre sold 306 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $289.65, for a total value of $88,632.90. Following the transaction, the director now directly owns 1,922 shares in the company, valued at approximately $556,707.30. The disclosure for this sale can be found here. 1.79% of the stock is currently owned by insiders.

Lithia Motors Stock Up 4.9 %

Shares of LAD stock opened at $297.61 on Friday. The firm’s fifty day moving average price is $265.56 and its two-hundred day moving average price is $272.18. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.25. Lithia Motors, Inc. has a 1 year low of $231.36 and a 1 year high of $331.96. The firm has a market capitalization of $8.16 billion, a P/E ratio of 8.79, a PEG ratio of 3.59 and a beta of 1.63.

Lithia Motors (NYSE:LAD) last released its earnings results on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.09 by $0.78. Lithia Motors had a return on equity of 13.81% and a net margin of 2.52%. The business had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the business earned $10.91 earnings per share. Lithia Motors’s quarterly revenue was up 13.8% on a year-over-year basis. On average, equities analysts predict that Lithia Motors, Inc. will post 27.62 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, August 9th. Lithia Motors’s dividend payout ratio is currently 6.26%.

Wall Street Analyst Weigh In

LAD has been the topic of a number of research analyst reports. Bank of America raised their price target on Lithia Motors from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company lifted their price target on shares of Lithia Motors from $266.00 to $302.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Guggenheim raised shares of Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 price objective for the company in a research report on Friday, August 9th. The Goldman Sachs Group boosted their price objective on shares of Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, StockNews.com cut Lithia Motors from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $321.50.

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.