Envestnet Portfolio Solutions Inc. Trims Stock Holdings in Lithia Motors, Inc. (NYSE:LAD)

Envestnet Portfolio Solutions Inc. lessened its holdings in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 43.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,021 shares of the company's stock after selling 796 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Lithia Motors were worth $300,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Atlas Capital Advisors Inc. acquired a new position in shares of Lithia Motors in the fourth quarter worth approximately $34,000. SBI Securities Co. Ltd. acquired a new position in shares of Lithia Motors in the 4th quarter worth approximately $35,000. Rakuten Securities Inc. boosted its stake in shares of Lithia Motors by 1,420.0% in the 4th 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 last quarter. NBC Securities Inc. acquired a new stake in shares of Lithia Motors during the first quarter worth $59,000. Finally, UMB Bank n.a. raised its stake 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 buying an additional 79 shares during the last quarter.

Insider Buying and Selling

In other news, Director Shauna Mcintyre sold 337 shares of the 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 completion of the transaction, the director directly owned 1,632 shares of the company's stock, valued at $482,974.08. This represents a 17.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.87% of the company's stock.

Wall Street Analysts Forecast Growth

LAD has been the subject of a number of research analyst reports. Guggenheim lowered their target price on Lithia Motors from $417.00 to $356.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. The Goldman Sachs Group assumed coverage on shares of Lithia Motors in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Finally, Citigroup upgraded 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $379.40.

Lithia Motors Stock Up 0.3%

LAD stock traded up $1.01 during mid-day trading on Thursday, reaching $352.90. 81,265 shares of the company traded hands, compared to its average volume of 311,254. The firm's 50 day moving average price is $317.80 and its 200 day moving average price is $328.21. Lithia Motors, Inc. has a fifty-two week low of $243.04 and a fifty-two week high of $405.68. The stock has a market cap of $9.19 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 0.55 and a beta of 1.46. 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 posted its quarterly earnings data on Wednesday, April 23rd. The company reported $7.66 EPS for the quarter, missing the consensus estimate of $7.77 by ($0.11). Lithia Motors had a net margin of 2.30% and a return on equity of 12.74%. The firm had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $9.19 billion. During the same quarter last year, the business posted $6.11 EPS. The company's quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict 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. Stockholders of record on Friday, May 9th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from Lithia Motors's previous quarterly dividend of $0.53. The ex-dividend date was Friday, May 9th. Lithia Motors's payout ratio is presently 6.93%.

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.