Lithia Motors, Inc. (NYSE:LAD) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 9.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,442 shares of the company's stock after selling 791 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Lithia Motors were worth $2,660,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Lithia Motors during the 4th quarter valued at approximately $152,752,000. Egerton Capital UK LLP acquired a new stake in shares of Lithia Motors during the fourth quarter worth $113,250,000. Madison Investment Advisors LLC purchased a new position in Lithia Motors during the 4th quarter worth $91,190,000. Advent International L.P. lifted its stake in shares of Lithia Motors by 52.9% in the 4th quarter. Advent International L.P. now owns 217,151 shares of the company's stock worth $77,616,000 after acquiring an additional 75,151 shares during the period. Finally, Driehaus Capital Management LLC boosted its holdings in shares of Lithia Motors by 91.1% in the fourth quarter. Driehaus Capital Management LLC now owns 142,124 shares of the company's stock valued at $50,799,000 after acquiring an additional 67,769 shares in the last quarter.

Lithia Motors Stock Down 1.1%

Shares of NYSE LAD opened at $318.39 on Wednesday. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 4.65 and a beta of 1.48. 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 quick ratio of 0.28 and a current ratio of 1.19. The stock's 50-day simple moving average is $298.54 and its 200-day simple moving average is $339.04.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly 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). The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.19 billion. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. The company's revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $6.11 earnings per share. As a group, equities analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.20 annualized dividend and a yield of 0.69%. This is a boost from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's dividend payout ratio is presently 6.93%.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, Director Congdon Stacy Loretz sold 270 shares of the stock in a transaction 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 trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shauna Mcintyre sold 248 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $290.84, for a total value of $72,128.32. Following the completion of the sale, the director now owns 1,297 shares in the company, valued at $377,219.48. The trade was a 16.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 855 shares of company stock worth $252,536 over the last quarter. 0.87% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LAD. 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 research report on Monday, April 21st. JPMorgan Chase & Co. decreased their target price on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Guggenheim dropped 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. Citigroup upgraded shares of Lithia Motors from a "neutral" rating to a "buy" rating and cut their target price for the stock from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Finally, Evercore ISI lifted their price objective on Lithia Motors from $400.00 to $440.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lithia Motors has a consensus rating of "Moderate Buy" and an average price target of $361.20.

Lithia Motors 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.

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