Wedge Capital Management L L P NC Has $37.10 Million Stake in Lithia Motors, Inc. (NYSE:LAD)

Wedge Capital Management L L P NC lessened its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 2.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 126,377 shares of the company's stock after selling 3,732 shares during the period. Wedge Capital Management L L P NC owned 0.48% of Lithia Motors worth $37,097,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LAD. Atlas Capital Advisors Inc. acquired a new position in Lithia Motors during the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. acquired a new position in shares of Lithia Motors in the 4th quarter valued at $35,000. V Square Quantitative Management LLC increased its position in shares of Lithia Motors by 33.9% in the 4th quarter. V Square Quantitative Management LLC now owns 146 shares of the company's stock valued at $52,000 after buying an additional 37 shares in the last quarter. Rakuten Securities Inc. raised its stake 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 buying an additional 142 shares during the period. Finally, NBC Securities Inc. bought a new position in Lithia Motors during the first quarter worth about $59,000.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LAD. JPMorgan Chase & Co. dropped their price target 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 target price on shares of Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Evercore ISI upped their price target on shares of Lithia Motors from $400.00 to $440.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Citigroup raised shares of Lithia Motors from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group assumed coverage on shares of Lithia Motors in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $362.40.

Lithia Motors Stock Up 0.7%

NYSE LAD traded up $2.29 during trading hours on Monday, hitting $323.44. 298,081 shares of the company traded hands, compared to its average volume of 314,529. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 4.65 and a beta of 1.47. Lithia Motors, Inc. has a twelve month low of $243.04 and a twelve month high of $405.68. The business's 50-day moving average is $301.52 and its 200-day moving average is $333.77. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.28 and a current ratio of 1.19.

Lithia Motors (NYSE:LAD - Get Free Report) last released its earnings results 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). Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the business posted $6.11 earnings per share. Lithia Motors's quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, May 9th. This represents a $2.20 dividend on an annualized basis and a yield of 0.68%. This is a boost from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's dividend payout ratio (DPR) is presently 6.93%.

Insiders Place Their Bets

In other Lithia Motors news, Director Shauna Mcintyre sold 337 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $295.94, for a total value of $99,731.78. Following the completion of the sale, the director now owns 1,632 shares of the company's stock, valued at $482,974.08. The trade was a 17.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Congdon Stacy Loretz sold 270 shares of Lithia Motors stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total transaction of $80,676.00. Following the completion of the sale, the director now owns 1,213 shares of the company's stock, valued at approximately $362,444.40. The trade was a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 855 shares of company stock valued at $252,536 over the last 90 days. 0.87% of the stock is currently owned by insiders.

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.