Lithia Motors, Inc. (NYSE:LAD) Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. boosted its stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 241,420 shares of the company's stock after acquiring an additional 11,500 shares during the period. Lithia Motors comprises approximately 1.0% of Bridges Investment Management Inc.'s portfolio, making the stock its 28th largest position. Bridges Investment Management Inc. owned approximately 0.92% of Lithia Motors worth $70,866,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atlas Capital Advisors Inc. acquired a new position in shares of Lithia Motors in the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. acquired a new position in shares of Lithia Motors in the fourth quarter valued at approximately $35,000. Rakuten Securities Inc. increased its holdings in shares of Lithia Motors by 1,420.0% in the fourth quarter. Rakuten Securities Inc. now owns 152 shares of the company's stock valued at $54,000 after purchasing an additional 142 shares during the period. NBC Securities Inc. purchased a new position in Lithia Motors during the first quarter worth about $59,000. Finally, UMB Bank n.a. raised its holdings in Lithia Motors by 63.7% during the first quarter. UMB Bank n.a. now owns 203 shares of the company's stock worth $60,000 after purchasing an additional 79 shares in the last quarter.

Insider Transactions at Lithia Motors

In related news, Director Shauna Mcintyre sold 337 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $295.94, for a total transaction of $99,731.78. Following the sale, the director owned 1,632 shares in the company, valued at approximately $482,974.08. This trade represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.87% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Lithia Motors from $305.00 to $364.00 and gave the stock an "equal weight" rating in a report on Wednesday. The Goldman Sachs Group assumed coverage on shares of Lithia Motors in a report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price target for the company. JPMorgan Chase & Co. cut 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. Guggenheim cut their price target on shares of Lithia Motors from $417.00 to $356.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Bank of America increased their price target on shares of Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $385.00.

Lithia Motors Price Performance

Shares of LAD stock traded down $6.07 during trading hours on Friday, hitting $350.53. The company's stock had a trading volume of 149,551 shares, compared to its average volume of 310,360. The business has a fifty day moving average of $324.80 and a 200-day moving average of $327.62. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 0.56 and a beta of 1.46. Lithia Motors, Inc. has a twelve month low of $247.01 and a twelve month high of $405.68. The company has a current ratio of 1.18, a quick ratio of 0.31 and a debt-to-equity ratio of 1.22.

Lithia Motors (NYSE:LAD - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $7.66 EPS for the quarter, missing the consensus estimate of $7.77 by ($0.11). The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.19 billion. Lithia Motors had a net margin of 2.30% and a return on equity of 12.74%. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.11 earnings per share. As a group, equities research analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Increases Dividend

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

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.