Voloridge Investment Management LLC Sells 6,364 Shares of Lithia Motors, Inc. (NYSE:LAD)

Voloridge Investment Management LLC decreased its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 58.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,451 shares of the company's stock after selling 6,364 shares during the period. Voloridge Investment Management LLC's holdings in Lithia Motors were worth $1,591,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atlas Capital Advisors Inc. acquired a new position in Lithia Motors during the 4th quarter worth $34,000. SBI Securities Co. Ltd. acquired a new position in Lithia Motors during the 4th quarter worth $35,000. V Square Quantitative Management LLC lifted its position in Lithia Motors by 33.9% during the 4th quarter. V Square Quantitative Management LLC now owns 146 shares of the company's stock worth $52,000 after acquiring an additional 37 shares during the last quarter. Rakuten Securities Inc. lifted its position in Lithia Motors by 1,420.0% during the 4th quarter. Rakuten Securities Inc. now owns 152 shares of the company's stock worth $54,000 after acquiring an additional 142 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Lithia Motors by 48.5% during the fourth quarter. Blue Trust Inc. now owns 297 shares of the company's stock valued at $106,000 after buying an additional 97 shares during the last quarter.

Insiders Place Their Bets

In other Lithia Motors news, Director Shauna Mcintyre sold 248 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.84, for a total transaction of $72,128.32. Following the sale, the director now directly owns 1,297 shares of the company's stock, valued at approximately $377,219.48. This represents a 16.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Congdon Stacy Loretz sold 270 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $298.80, for a total transaction of $80,676.00. Following the sale, the director now directly owns 1,213 shares in the company, valued at $362,444.40. This represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 855 shares of company stock valued at $252,536. 0.87% of the stock is currently owned by insiders.

Lithia Motors Price Performance

NYSE LAD traded up $2.98 on Friday, reaching $317.23. The company's stock had a trading volume of 347,933 shares, compared to its average volume of 317,329. The firm has a market cap of $8.26 billion, a PE ratio of 10.69, 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 $299.38 and a 200 day moving average price of $336.28. Lithia Motors, Inc. has a 52 week low of $243.04 and a 52 week high of $405.68. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.22.

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 for the quarter, missing the consensus estimate of $7.77 by ($0.11). The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $9.19 billion. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. Lithia Motors's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $6.11 earnings per share. Sell-side analysts expect that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Increases Dividend

The company also recently disclosed 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. 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. The ex-dividend date was Friday, May 9th. Lithia Motors's dividend payout ratio is currently 6.93%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of Lithia Motors from $400.00 to $440.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. cut their price objective on shares of Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Citigroup raised shares of Lithia Motors from a "neutral" rating to a "buy" rating and cut their price objective for the company from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price objective 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. Finally, Benchmark reaffirmed a "buy" rating and set a $400.00 price objective on shares of Lithia Motors in a research report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Lithia Motors has an average rating of "Moderate Buy" and an average target price 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.