Janney Montgomery Scott LLC Buys 87,597 Shares of Lithia Motors, Inc. (NYSE:LAD)

Janney Montgomery Scott LLC lifted its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 1,865.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 92,293 shares of the company's stock after acquiring an additional 87,597 shares during the period. Janney Montgomery Scott LLC owned approximately 0.35% of Lithia Motors worth $27,092,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of LAD. Dimensional Fund Advisors LP raised its holdings in shares of Lithia Motors by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,194,539 shares of the company's stock worth $426,968,000 after purchasing an additional 27,035 shares during the last quarter. Lyrical Asset Management LP increased its holdings in shares of Lithia Motors by 2.3% during the 4th quarter. Lyrical Asset Management LP now owns 510,388 shares of the company's stock worth $182,428,000 after buying an additional 11,674 shares during the last quarter. Steadfast Capital Management LP boosted its stake in Lithia Motors by 137.8% during the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock worth $164,524,000 after buying an additional 266,715 shares during the period. Norges Bank purchased a new position in Lithia Motors during the 4th quarter valued at about $152,752,000. Finally, Royal London Asset Management Ltd. boosted its holdings in Lithia Motors by 18.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 362,022 shares of the company's stock valued at $129,398,000 after purchasing an additional 55,142 shares during the period.

Lithia Motors Price Performance

Shares of Lithia Motors stock traded down $0.21 during midday trading on Thursday, hitting $326.94. 205,232 shares of the company traded hands, compared to its average volume of 312,927. 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 stock has a market cap of $8.51 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 0.53 and a beta of 1.47. Lithia Motors, Inc. has a 12 month low of $243.04 and a 12 month high of $405.68. The firm's fifty day moving average price is $308.89 and its 200-day moving average price is $330.82.

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 the consensus estimate of $7.77 by ($0.11). The company 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 2.30% and a return on equity of 12.74%. The business's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.11 EPS. As a group, sell-side analysts forecast that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.67%. 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%.

Analyst Ratings Changes

LAD has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Guggenheim dropped their target price on Lithia Motors from $417.00 to $356.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Benchmark restated a "buy" rating and set a $400.00 price objective on shares of Lithia Motors in a research note on Thursday, February 20th. Bank of America upped their price objective on Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research note on Monday. Finally, Wells Fargo & Company dropped their price target on shares of Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. 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 currently has an average rating of "Moderate Buy" and a consensus price target of $379.40.

Insider Activity at Lithia Motors

In other news, Director Shauna Mcintyre sold 337 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $295.94, for a total value of $99,731.78. Following the completion of the transaction, the director now owns 1,632 shares of the company's stock, valued at approximately $482,974.08. This represents a 17.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.87% of the stock is owned by insiders.

Lithia Motors Company 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.