Bridges Investment Management Inc. Acquires 11,500 Shares of Lithia Motors, Inc. (NYSE:LAD)

Bridges Investment Management Inc. raised its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 241,420 shares of the company's stock after buying an additional 11,500 shares during the quarter. Lithia Motors comprises about 1.0% of Bridges Investment Management Inc.'s holdings, making the stock its 28th largest position. Bridges Investment Management Inc. owned 0.92% of Lithia Motors worth $70,866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of LAD. Vident Advisory LLC raised its position in shares of Lithia Motors by 4.3% during the 4th quarter. Vident Advisory LLC now owns 780 shares of the company's stock valued at $279,000 after buying an additional 32 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Lithia Motors by 1.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,421 shares of the company's stock worth $711,000 after purchasing an additional 35 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Lithia Motors by 5.6% in the 4th quarter. Benjamin Edwards Inc. now owns 700 shares of the company's stock worth $250,000 after purchasing an additional 37 shares in the last quarter. Mariner LLC raised its holdings in shares of Lithia Motors by 2.9% during the 4th quarter. Mariner LLC now owns 1,475 shares of the company's stock valued at $527,000 after buying an additional 42 shares in the last quarter. Finally, Isthmus Partners LLC lifted its position in Lithia Motors by 4.6% in the 4th quarter. Isthmus Partners LLC now owns 1,147 shares of the company's stock worth $410,000 after buying an additional 50 shares during the last quarter.

Insider Activity

In related news, Director Shauna Mcintyre sold 337 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $295.94, for a total value of $99,731.78. Following the sale, the director owned 1,632 shares in the company, valued at $482,974.08. This represents a 17.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.87% of the company's stock.

Lithia Motors Stock Up 1.3%

Shares of NYSE:LAD traded up $4.49 during trading on Wednesday, hitting $350.09. The stock had a trading volume of 186,031 shares, compared to its average volume of 311,105. The company has a quick ratio of 0.31, a current ratio of 1.18 and a debt-to-equity ratio of 1.22. Lithia Motors, Inc. has a 12 month low of $243.31 and a 12 month high of $405.68. The company has a market capitalization of $9.11 billion, a PE ratio of 11.03, a PEG ratio of 0.56 and a beta of 1.46. The firm's fifty day moving average is $322.40 and its 200 day moving average is $327.49.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $7.66 EPS for the quarter, missing analysts' consensus estimates of $7.77 by ($0.11). The business 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 2.30% and a return on equity of 12.74%. The business's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $6.11 EPS. Analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.55 per share. This is an increase from Lithia Motors's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.63%. Lithia Motors's dividend payout ratio (DPR) is currently 6.93%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Bank of America increased their price target on shares of Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Guggenheim lowered their target price on Lithia Motors from $417.00 to $356.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Citigroup upgraded Lithia Motors from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $415.00 to $375.00 in a research report on Wednesday, April 23rd. The Goldman Sachs Group began coverage on shares of Lithia Motors in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their price target on shares of Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $385.00.

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.