Gotham Asset Management LLC Reduces Stock Holdings in Lithia Motors, Inc. (NYSE:LAD)

Gotham Asset Management LLC decreased its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 65.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,269 shares of the company's stock after selling 4,227 shares during the quarter. Gotham Asset Management LLC's holdings in Lithia Motors were worth $811,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of LAD. Atlas Capital Advisors Inc. bought a new position in Lithia Motors during the 4th quarter worth $34,000. SBI Securities Co. Ltd. bought a new position in Lithia Motors during the 4th quarter worth $35,000. UMB Bank n.a. raised its position in Lithia Motors by 69.9% during the 4th quarter. UMB Bank n.a. now owns 124 shares of the company's stock worth $44,000 after purchasing an additional 51 shares during the last quarter. V Square Quantitative Management LLC raised its position in Lithia Motors by 33.9% during the 4th quarter. V Square Quantitative Management LLC now owns 146 shares of the company's stock worth $52,000 after purchasing an additional 37 shares during the last quarter. Finally, Rakuten Securities Inc. raised its position in Lithia Motors by 1,420.0% during the 4th quarter. Rakuten Securities Inc. now owns 152 shares of the company's stock worth $54,000 after purchasing an additional 142 shares during the last quarter.

Insiders Place Their Bets

In other Lithia Motors news, Director Shauna Mcintyre sold 248 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $290.84, for a total transaction of $72,128.32. Following the completion of the sale, the director now directly owns 1,297 shares of the company's stock, valued at approximately $377,219.48. The trade was a 16.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Congdon Stacy Loretz sold 270 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $298.80, for a total value of $80,676.00. Following the sale, the director now directly owns 1,213 shares of the company's stock, valued at $362,444.40. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 855 shares of company stock valued at $252,536. Corporate insiders own 0.87% of the company's stock.

Analyst Ratings Changes

LAD has been the subject of several analyst reports. Benchmark reaffirmed a "buy" rating and set a $400.00 target price on shares of Lithia Motors in a research report on Thursday, February 20th. JPMorgan Chase & Co. lowered their price objective on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Citigroup raised Lithia Motors from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Wells Fargo & Company lowered their price objective on Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Finally, Guggenheim lowered their price objective on Lithia Motors from $417.00 to $356.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and seven have given 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 $361.20.

Lithia Motors Stock Up 1.2%

Shares of NYSE:LAD traded up $3.68 during trading on Friday, reaching $311.26. 239,428 shares of the stock were exchanged, compared to its average volume of 317,393. The stock has a fifty day moving average of $299.09 and a two-hundred day moving average of $338.07. Lithia Motors, Inc. has a 1-year low of $243.04 and a 1-year high of $405.68. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.28. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 4.65 and a beta of 1.48.

Lithia Motors (NYSE:LAD - Get Free Report) last released its quarterly earnings data 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 business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.19 billion. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. The firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same period last 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 fiscal year.

Lithia Motors Increases Dividend

The business also recently declared 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. The ex-dividend date was Friday, May 9th. This represents a $2.20 dividend on an annualized basis and a yield of 0.71%. This is an increase from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's payout ratio is 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.