Lithia Motors, Inc. (NYSE:LAD) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 118.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,841 shares of the company's stock after acquiring an additional 997 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Lithia Motors were worth $541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Elevation Point Wealth Partners LLC lifted its holdings in shares of Lithia Motors by 5.5% during the first quarter. Elevation Point Wealth Partners LLC now owns 1,513 shares of the company's stock worth $444,000 after purchasing an additional 79 shares during the period. Assenagon Asset Management S.A. purchased a new position in Lithia Motors during the first quarter valued at approximately $36,762,000. SG Americas Securities LLC raised its position in Lithia Motors by 404.0% during the first quarter. SG Americas Securities LLC now owns 5,171 shares of the company's stock valued at $1,518,000 after acquiring an additional 4,145 shares in the last quarter. GAMMA Investing LLC raised its position in Lithia Motors by 50.9% during the first quarter. GAMMA Investing LLC now owns 252 shares of the company's stock valued at $74,000 after acquiring an additional 85 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Lithia Motors by 86.6% during the first quarter. Harbor Capital Advisors Inc. now owns 12,053 shares of the company's stock valued at $3,538,000 after acquiring an additional 5,592 shares in the last quarter.

Insiders Place Their Bets

In other Lithia Motors news, Director Shauna Mcintyre sold 337 shares of the business's 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 transaction, the director owned 1,632 shares of the company's stock, valued at approximately $482,974.08. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.87% of the company's stock.

Analyst Upgrades and Downgrades

LAD has been the subject of several recent research reports. Citigroup upgraded Lithia Motors from a "neutral" rating to a "buy" rating and reduced their price target for the company from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Guggenheim reduced their price target 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. Bank of America lifted their price target on Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research report on Monday, June 16th. The Goldman Sachs Group began coverage on Lithia Motors in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 price objective for the company. Finally, JPMorgan Chase & Co. cut 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. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $379.40.

Lithia Motors Price Performance

Shares of NYSE:LAD traded up $1.01 during trading on Friday, reaching $352.90. The stock had a trading volume of 81,265 shares, compared to its average volume of 311,934. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.31 and a current ratio of 1.18. The business has a fifty day moving average price of $320.22 and a 200-day moving average price of $327.89. The stock has a market cap of $9.19 billion, a PE ratio of 11.12, a PEG ratio of 0.57 and a beta of 1.46. Lithia Motors, Inc. has a 1-year low of $243.04 and a 1-year high of $405.68.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 12.74% and a net margin of 2.30%. The business's revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $6.11 earnings per share. On average, equities analysts forecast that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The business also recently disclosed 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 0.62%. This is a positive change 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.