Balyasny Asset Management L.P. Has $61.97 Million Stock Position in Lithia Motors, Inc. (NYSE:LAD)

Balyasny Asset Management L.P. cut its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 47.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 173,387 shares of the company's stock after selling 157,092 shares during the period. Balyasny Asset Management L.P. owned approximately 0.65% of Lithia Motors worth $61,974,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Lithia Motors during the 4th quarter valued at $152,752,000. Egerton Capital UK LLP purchased a new stake in shares of Lithia Motors during the fourth quarter valued at $113,250,000. Madison Investment Advisors LLC acquired a new position in shares of Lithia Motors in the 4th quarter valued at $91,190,000. Wedge Capital Management L L P NC purchased a new position in Lithia Motors in the 4th quarter worth about $46,505,000. Finally, Advent International L.P. lifted its stake in Lithia Motors by 52.9% during the fourth quarter. Advent International L.P. now owns 217,151 shares of the company's stock valued at $77,616,000 after buying an additional 75,151 shares in the last quarter.

Insider Transactions at Lithia Motors

In related news, Director Congdon Stacy Loretz sold 270 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total transaction of $80,676.00. Following the completion of the sale, the director now owns 1,213 shares in the company, valued at $362,444.40. This trade represents a 18.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Shauna Mcintyre sold 248 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.84, for a total transaction of $72,128.32. Following the completion of the transaction, the director now owns 1,297 shares in the company, valued at approximately $377,219.48. This trade represents a 16.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,583 shares of company stock valued at $533,455. 0.87% of the stock is owned by corporate insiders.

Lithia Motors Stock Performance

Shares of NYSE:LAD traded up $2.79 during trading on Friday, reaching $306.54. The stock had a trading volume of 191,036 shares, compared to its average volume of 315,074. The company has a quick ratio of 0.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.22. The stock has a fifty day simple moving average of $295.53 and a two-hundred day simple moving average of $339.73. The firm has a market capitalization of $7.98 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 4.65 and a beta of 1.48. Lithia Motors, Inc. has a 52 week low of $243.04 and a 52 week high of $405.68.

Lithia Motors (NYSE:LAD - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $7.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.77 by ($0.11). The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $9.19 billion. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. The firm's revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $6.11 earnings per share. As a group, analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's dividend payout ratio (DPR) is presently 6.93%.

Analyst Ratings Changes

LAD has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Lithia Motors from a "sell" rating to a "hold" rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. reduced their target price on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. The Goldman Sachs Group lowered their price target on Lithia Motors from $385.00 to $328.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Evercore ISI increased their price objective on Lithia Motors from $400.00 to $440.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, Benchmark reissued a "buy" rating and set a $400.00 target price on shares of Lithia Motors in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $361.20.

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.