Oppenheimer Asset Management Inc. Decreases Stock Holdings in Lithia Motors, Inc. (NYSE:LAD)

Oppenheimer Asset Management Inc. lowered its holdings in Lithia Motors, Inc. (NYSE:LAD) by 24.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,296 shares of the company’s stock after selling 1,371 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Lithia Motors were worth $1,085,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Lithia Motors by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,823,369 shares of the company’s stock worth $929,679,000 after buying an additional 15,962 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Lithia Motors by 7.2% in the first quarter. Canada Pension Plan Investment Board now owns 727,849 shares of the company’s stock valued at $218,981,000 after acquiring an additional 48,938 shares during the last quarter. Norges Bank bought a new position in shares of Lithia Motors during the 4th quarter valued at approximately $123,976,000. Cadian Capital Management LP purchased a new stake in shares of Lithia Motors during the 4th quarter worth approximately $105,370,000. Finally, Eventide Asset Management LLC raised its holdings in shares of Lithia Motors by 8.2% in the 4th quarter. Eventide Asset Management LLC now owns 267,877 shares of the company’s stock worth $88,207,000 after purchasing an additional 20,363 shares during the period.

Insider Activity

In related news, Director Sidney B. Deboer sold 11,938 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $290.86, for a total value of $3,472,286.68. Following the transaction, the director now owns 46,129 shares of the company’s stock, valued at $13,417,080.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, 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 completion of the sale, the director now owns 1,922 shares in the company, valued at approximately $556,707.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sidney B. Deboer sold 11,938 shares of the stock in a transaction that occurred 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 owns 46,129 shares in the company, valued at $13,417,080.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,021 shares of company stock worth $6,534,617. 1.79% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LAD has been the subject of a number of recent research reports. Bank of America raised their target price on Lithia Motors from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price objective on Lithia Motors from $315.00 to $375.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Stephens initiated coverage on shares of Lithia Motors in a research report on Thursday, September 12th. They set an “overweight” rating and a $360.00 target price for the company. Wells Fargo & Company boosted 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 report on Friday, August 2nd. Finally, StockNews.com downgraded shares of Lithia Motors from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $326.00.

Lithia Motors Trading Up 6.7 %

Shares of LAD stock opened at $305.49 on Friday. Lithia Motors, Inc. has a 52-week low of $231.36 and a 52-week high of $331.96. The business’s fifty day moving average is $279.25 and its 200 day moving average is $271.31. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.30 and a current ratio of 1.19. The company has a market capitalization of $8.37 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 0.26 and a beta of 1.64.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Thursday, August 1st. The company reported $7.87 EPS for the quarter, topping the consensus estimate of $7.09 by $0.78. The company had revenue of $9.23 billion during the quarter, compared to analyst estimates of $9.29 billion. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. Lithia Motors’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.91 earnings per share. On average, equities research analysts anticipate that Lithia Motors, Inc. will post 28.89 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, August 9th. Lithia Motors’s dividend payout ratio (DPR) is currently 6.26%.

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.