Lithia Motors, Inc. (NYSE:LAD) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. reduced its holdings in Lithia Motors, Inc. (NYSE:LAD) by 11.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,885 shares of the company’s stock after selling 519 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Lithia Motors were worth $981,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its position in Lithia Motors by 83.6% during the second quarter. Blue Trust Inc. now owns 134 shares of the company’s stock valued at $34,000 after acquiring an additional 61 shares during the period. EverSource Wealth Advisors LLC grew its position in Lithia Motors by 13.3% during the first quarter. EverSource Wealth Advisors LLC now owns 554 shares of the company’s stock valued at $167,000 after acquiring an additional 65 shares during the period. Ashton Thomas Private Wealth LLC grew its position in Lithia Motors by 2.2% during the first quarter. Ashton Thomas Private Wealth LLC now owns 3,468 shares of the company’s stock valued at $1,043,000 after acquiring an additional 73 shares during the period. Inspire Advisors LLC grew its position in Lithia Motors by 12.0% during the first quarter. Inspire Advisors LLC now owns 692 shares of the company’s stock valued at $208,000 after acquiring an additional 74 shares during the period. Finally, CreativeOne Wealth LLC grew its position in Lithia Motors by 8.1% during the first quarter. CreativeOne Wealth LLC now owns 1,044 shares of the company’s stock valued at $314,000 after acquiring an additional 78 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LAD. JPMorgan Chase & Co. boosted their price target on Lithia Motors from $315.00 to $375.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. StockNews.com cut Lithia Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Bank of America boosted their price objective on Lithia Motors from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Guggenheim upgraded Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 price objective on the stock in a research note on Friday, August 9th. Finally, Wells Fargo & Company boosted their price objective on Lithia Motors from $266.00 to $302.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Two 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $326.00.

Insider Buying and Selling at Lithia Motors

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

Lithia Motors Trading Up 3.5 %

NYSE:LAD opened at $279.51 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.30 and a current ratio of 1.19. Lithia Motors, Inc. has a one year low of $231.36 and a one year high of $331.96. The business’s 50-day simple moving average is $276.03 and its 200 day simple moving average is $271.20. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 0.26 and a beta of 1.64.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.09 by $0.78. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The firm had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the prior year, the firm posted $10.91 earnings per share. Lithia Motors’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that Lithia Motors, Inc. will post 28.89 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.76%. The ex-dividend date was Friday, August 9th. Lithia Motors’s payout ratio is currently 6.26%.

Lithia Motors Company 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.