New York State Common Retirement Fund Sells 1,000 Shares of Lithia Motors, Inc. (NYSE:LAD)

New York State Common Retirement Fund reduced its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,644 shares of the company's stock after selling 1,000 shares during the period. New York State Common Retirement Fund owned 0.06% of Lithia Motors worth $4,886,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. State of Michigan Retirement System increased its position in Lithia Motors by 1.6% in the 1st quarter. State of Michigan Retirement System now owns 6,387 shares of the company's stock valued at $1,875,000 after acquiring an additional 100 shares in the last quarter. Bridges Investment Management Inc. boosted its stake in Lithia Motors by 5.0% during the 1st quarter. Bridges Investment Management Inc. now owns 241,420 shares of the company's stock worth $70,866,000 after acquiring an additional 11,500 shares during the last quarter. Iridian Asset Management LLC CT lifted its stake in Lithia Motors by 14.1% in the first quarter. Iridian Asset Management LLC CT now owns 61,424 shares of the company's stock valued at $18,030,000 after buying an additional 7,575 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Lithia Motors by 219.7% in the first quarter. Crossmark Global Holdings Inc. now owns 7,391 shares of the company's stock valued at $2,170,000 after buying an additional 5,079 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Lithia Motors by 0.3% in the first quarter. Principal Financial Group Inc. now owns 61,283 shares of the company's stock valued at $17,989,000 after purchasing an additional 211 shares during the last quarter.

Insiders Place Their Bets

In other news, Director Shauna Mcintyre sold 337 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $295.94, for a total transaction of $99,731.78. Following the completion of the sale, the director owned 1,632 shares of the company's stock, valued at $482,974.08. This trade represents a 17.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.87% of the company's stock.

Lithia Motors Trading Up 0.8%

NYSE LAD traded up $2.55 during trading hours on Friday, reaching $312.33. The company's stock had a trading volume of 175,591 shares, compared to its average volume of 265,747. The firm has a fifty day simple moving average of $327.53 and a 200-day simple moving average of $325.11. The stock has a market cap of $8.13 billion, a P/E ratio of 9.84, a P/E/G ratio of 0.47 and a beta of 1.46. Lithia Motors, Inc. has a 52 week low of $255.32 and a 52 week high of $405.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.18 and a quick ratio of 0.31.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings data 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 business 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 firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $6.11 EPS. Equities analysts forecast that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Lithia Motors in a report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 target price on the stock. Guggenheim decreased their price target on shares of Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company upped their price target on shares of Lithia Motors from $305.00 to $364.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Bank of America upped their price target on shares of Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Lithia Motors from $345.00 to $335.00 and set an "overweight" rating for the company in a research report on Wednesday, July 16th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $382.50.

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.