Envestnet Asset Management Inc. Decreases Position in Lithia Motors, Inc. (NYSE:LAD)

Envestnet Asset Management Inc. decreased its position in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,864 shares of the company's stock after selling 1,110 shares during the period. Envestnet Asset Management Inc. owned 0.10% of Lithia Motors worth $7,886,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of LAD. HighTower Advisors LLC raised its stake in Lithia Motors by 82.7% in the fourth quarter. HighTower Advisors LLC now owns 2,330 shares of the company's stock worth $833,000 after buying an additional 1,055 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Lithia Motors by 11.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,817 shares of the company's stock worth $649,000 after purchasing an additional 191 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Lithia Motors by 18.2% during the fourth quarter. Teacher Retirement System of Texas now owns 4,031 shares of the company's stock worth $1,441,000 after purchasing an additional 622 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Lithia Motors during the fourth quarter worth $2,002,000. Finally, LPL Financial LLC increased its position in shares of Lithia Motors by 14.2% during the fourth quarter. LPL Financial LLC now owns 4,049 shares of the company's stock worth $1,447,000 after purchasing an additional 503 shares in the last quarter.

Wall Street Analyst Weigh In

LAD has been the topic of a number of recent analyst reports. Guggenheim reduced their price target on Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. 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 objective on the stock. Bank of America boosted their price objective on shares of Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a report on Monday, June 16th. JPMorgan Chase & Co. dropped their price objective on shares of Lithia Motors from $345.00 to $335.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. Finally, Citigroup raised shares of Lithia Motors from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $415.00 to $375.00 in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Lithia Motors presently has an average rating of "Moderate Buy" and a consensus target price of $382.50.

Insiders Place Their Bets

In related news, Director Shauna Mcintyre sold 337 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $295.94, for a total value of $99,731.78. Following the transaction, the director directly owned 1,632 shares of the company's stock, valued at approximately $482,974.08. This trade represents a 17.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company's stock.

Lithia Motors Price Performance

Shares of LAD stock traded down $1.36 during mid-day trading on Friday, hitting $308.42. 17,363 shares of the stock were exchanged, compared to its average volume of 332,300. The company has a market cap of $8.03 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 0.49 and a beta of 1.46. Lithia Motors, Inc. has a 52-week low of $255.32 and a 52-week high of $405.67. The firm has a fifty day moving average of $327.75 and a 200 day moving average of $325.33. 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 (NYSE:LAD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $7.66 earnings per share for the quarter, missing analysts' consensus estimates of $7.77 by ($0.11). The company had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $9.19 billion. Lithia Motors had a net margin of 2.30% and a return on equity of 12.74%. The company's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $6.11 earnings per share. Research analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors 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.