Lithia Motors, Inc. (NYSE:LAD) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank reduced its position in Lithia Motors by 1.9%, now holding 51,600 shares valued at $15.15 million.
• Several hedge funds, including Steadfast Capital Management and GAMMA Investing LLC, significantly increased their stakes in Lithia Motors recently.
• Analysts have mixed ratings for Lithia Motors, with target prices ranging from $315 to $500, indicating a consensus rating of "Moderate Buy" with a target of $379.00.

Swiss National Bank trimmed its position in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 1.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,600 shares of the company's stock after selling 1,000 shares during the period. Swiss National Bank owned 0.20% of Lithia Motors worth $15,147,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LAD. Steadfast Capital Management LP grew its stake in Lithia Motors by 137.8% in the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock worth $164,524,000 after purchasing an additional 266,715 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Lithia Motors in the first quarter worth about $36,762,000. Janney Montgomery Scott LLC grew its stake in Lithia Motors by 1,865.4% in the first quarter. Janney Montgomery Scott LLC now owns 92,293 shares of the company's stock worth $27,092,000 after purchasing an additional 87,597 shares in the last quarter. Advent International L.P. grew its stake in Lithia Motors by 52.9% in the fourth quarter. Advent International L.P. now owns 217,151 shares of the company's stock worth $77,616,000 after purchasing an additional 75,151 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Lithia Motors by 44,194.6% in the first quarter. GAMMA Investing LLC now owns 73,972 shares of the company's stock worth $21,714,000 after purchasing an additional 73,805 shares in the last quarter.

Insider Buying and Selling

In related news, Director Shauna Mcintyre sold 256 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $293.05, for a total transaction of $75,020.80. Following the sale, the director owned 1,376 shares of the company's stock, valued at $403,236.80. The trade was a 15.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LAD shares. Wells Fargo & Company decreased their target price on Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 30th. Bank of America lifted their target price on Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research note on Monday, June 16th. JPMorgan Chase & Co. decreased their target price on Lithia Motors from $335.00 to $315.00 and set an "overweight" rating for the company in a research note on Tuesday, August 5th. Guggenheim decreased their target price on Lithia Motors from $383.00 to $380.00 and set a "buy" rating for the company in a research note on Monday. Finally, Citigroup lifted their target price on Lithia Motors from $378.00 to $383.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $379.00.

Lithia Motors Stock Performance

LAD opened at $314.64 on Thursday. The business's 50 day moving average is $322.48 and its 200-day moving average is $320.12. The stock has a market cap of $8.07 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 0.46 and a beta of 1.30. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. Lithia Motors, Inc. has a twelve month low of $255.32 and a twelve month high of $405.67.

Lithia Motors (NYSE:LAD - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $10.24 earnings per share for the quarter, beating analysts' consensus estimates of $9.78 by $0.46. The company had revenue of $9.58 billion for the quarter, compared to analysts' expectations of $9.56 billion. Lithia Motors had a return on equity of 13.21% and a net margin of 2.39%. On average, analysts predict that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.20 annualized dividend and a yield of 0.7%. Lithia Motors's payout ratio is presently 6.52%.

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.

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