Lithia Motors, Inc. (NYSE:LAD) Shares Purchased by Castleark Management LLC

Castleark Management LLC grew its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 78.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,300 shares of the company's stock after purchasing an additional 6,730 shares during the period. Castleark Management LLC owned approximately 0.06% of Lithia Motors worth $5,469,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vident Advisory LLC raised its stake in Lithia Motors by 4.3% in the fourth quarter. Vident Advisory LLC now owns 780 shares of the company's stock worth $279,000 after buying an additional 32 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Lithia Motors by 33.9% in the fourth quarter. V Square Quantitative Management LLC now owns 146 shares of the company's stock valued at $52,000 after buying an additional 37 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Lithia Motors by 5.6% during the 4th quarter. Benjamin Edwards Inc. now owns 700 shares of the company's stock worth $250,000 after buying an additional 37 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Lithia Motors by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 863 shares of the company's stock valued at $308,000 after acquiring an additional 42 shares during the period. Finally, Mariner LLC boosted its stake in shares of Lithia Motors by 2.9% in the fourth quarter. Mariner LLC now owns 1,475 shares of the company's stock valued at $527,000 after purchasing an additional 42 shares during the period.

Lithia Motors Trading Up 1.5%

Lithia Motors stock traded up $4.59 during mid-day trading on Tuesday, hitting $316.04. The company's stock had a trading volume of 47,841 shares, compared to its average volume of 316,344. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.28. Lithia Motors, Inc. has a 12 month low of $243.04 and a 12 month high of $405.68. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 4.65 and a beta of 1.48. The business has a 50 day moving average price of $299.18 and a 200-day moving average price of $337.43.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $7.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.77 by ($0.11). Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the company posted $6.11 EPS. The firm's revenue was up 7.2% on a year-over-year basis. As a group, analysts forecast that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Increases Dividend

The business also recently announced 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 annualized dividend and a yield of 0.70%. This is a boost from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's dividend payout ratio is currently 6.93%.

Analyst Ratings Changes

A number of brokerages have recently commented on LAD. Benchmark reaffirmed a "buy" rating and issued a $400.00 target price on shares of Lithia Motors in a report on Thursday, February 20th. Evercore ISI raised their price target on shares of Lithia Motors from $400.00 to $440.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. The Goldman Sachs Group dropped their target price on shares of Lithia Motors from $385.00 to $328.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Guggenheim dropped their target price 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. Finally, JPMorgan Chase & Co. cut their target price 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 analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $361.20.

Insiders Place Their Bets

In other Lithia Motors news, Director Congdon Stacy Loretz sold 270 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total value of $80,676.00. Following the completion of the sale, the director now owns 1,213 shares of the company's stock, valued at $362,444.40. This trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shauna Mcintyre sold 337 shares of the company's stock in a transaction dated 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 transaction, the director now owns 1,632 shares in the company, valued at approximately $482,974.08. The trade was a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 855 shares of company stock valued at $252,536. Company insiders own 0.87% of the company's stock.

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.