Edgestream Partners L.P. Takes $381,000 Position in Lithia Motors, Inc. (NYSE:LAD)

Edgestream Partners L.P. bought a new stake in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,299 shares of the company's stock, valued at approximately $381,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vident Advisory LLC raised its holdings in Lithia Motors by 4.3% in 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 during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Lithia Motors by 1.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,421 shares of the company's stock valued at $711,000 after buying an additional 35 shares during the period. Benjamin Edwards Inc. raised its holdings in Lithia Motors by 5.6% in the 4th quarter. Benjamin Edwards Inc. now owns 700 shares of the company's stock valued at $250,000 after buying an additional 37 shares during the period. Mariner LLC raised its holdings in Lithia Motors by 2.9% in 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 during the period. Finally, CWM LLC increased its stake in Lithia Motors by 30.1% during the first quarter. CWM LLC now owns 212 shares of the company's stock worth $62,000 after purchasing an additional 49 shares during the period.

Wall Street Analysts Forecast Growth

LAD has been the topic of a number of recent research reports. Citigroup upgraded shares of Lithia Motors from a "neutral" rating to a "buy" rating and cut their price target for the stock from $415.00 to $375.00 in a research note on Wednesday, April 23rd. Bank of America boosted their price target on shares of Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. The Goldman Sachs Group initiated coverage on shares of Lithia Motors in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Lithia Motors from $305.00 to $364.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. cut their price target on shares of Lithia Motors from $345.00 to $335.00 and set an "overweight" rating on the stock in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Lithia Motors presently has an average rating of "Moderate Buy" and an average price target of $382.50.

Lithia Motors Stock Performance

Shares of LAD opened at $307.42 on Friday. The stock has a 50 day moving average price of $328.50 and a 200 day moving average price of $326.11. The company has a quick ratio of 0.31, a current ratio of 1.18 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $8.00 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 0.50 and a beta of 1.46. Lithia Motors, Inc. has a 52-week low of $247.01 and a 52-week high of $405.68.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $7.66 earnings per share for the quarter, missing the consensus estimate of $7.77 by ($0.11). The firm 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%. Lithia Motors's revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $6.11 earnings per share. Research analysts predict that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, May 9th. This is an increase from Lithia Motors's previous quarterly dividend of $0.53. This represents a $2.20 annualized dividend and a dividend yield of 0.72%. Lithia Motors's dividend payout ratio (DPR) is currently 6.93%.

Insider Buying and Selling at Lithia Motors

In related news, Director Shauna Mcintyre sold 337 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $295.94, for a total transaction of $99,731.78. Following the completion of the sale, the director directly owned 1,632 shares of the company's stock, valued at $482,974.08. This trade represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by corporate insiders.

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.

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