Lithia Motors, Inc. (NYSE:LAD) Shares Sold by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT cut its position in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 11.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,666 shares of the company's stock after selling 7,875 shares during the quarter. Lithia Motors accounts for about 3.7% of Iridian Asset Management LLC CT's portfolio, making the stock its 9th largest holding. Iridian Asset Management LLC CT owned about 0.23% of Lithia Motors worth $20,635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Lithia Motors by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,807,407 shares of the company's stock valued at $829,112,000 after buying an additional 10,649 shares in the last quarter. State Street Corp raised its position in shares of Lithia Motors by 3.8% in the 1st quarter. State Street Corp now owns 807,874 shares of the company's stock valued at $242,459,000 after buying an additional 29,352 shares in the last quarter. MFN Partners Management LP grew its holdings in shares of Lithia Motors by 43.0% during the 1st quarter. MFN Partners Management LP now owns 751,077 shares of the company's stock valued at $225,413,000 after purchasing an additional 225,806 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Lithia Motors by 0.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 678,611 shares of the company's stock valued at $200,414,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Lithia Motors by 2.3% during the 2nd quarter. Alliancebernstein L.P. now owns 615,177 shares of the company's stock valued at $187,081,000 after purchasing an additional 13,723 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LAD shares. Stephens reaffirmed an "overweight" rating and set a $375.00 price target on shares of Lithia Motors in a report on Wednesday, February 14th. StockNews.com raised shares of Lithia Motors from a "sell" rating to a "hold" rating in a report on Thursday, April 4th. Evercore ISI started coverage on shares of Lithia Motors in a report on Wednesday, January 17th. They set an "outperform" rating and a $400.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Lithia Motors from $300.00 to $334.00 and gave the company a "neutral" rating in a report on Thursday, February 15th. Finally, Morgan Stanley boosted their target price on shares of Lithia Motors from $220.00 to $230.00 and gave the stock an "underweight" rating in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $336.90.

Lithia Motors Stock Down 3.0 %

Shares of LAD stock traded down $8.35 on Wednesday, hitting $270.76. The stock had a trading volume of 281,699 shares, compared to its average volume of 198,497. The business has a 50 day moving average of $291.75 and a 200 day moving average of $285.56. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 7.46, a price-to-earnings-growth ratio of 2.45 and a beta of 1.58. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.41 and a quick ratio of 0.45. Lithia Motors, Inc. has a 12-month low of $205.97 and a 12-month high of $331.96.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its earnings results on Wednesday, February 14th. The company reported $8.24 EPS for the quarter, beating the consensus estimate of $8.11 by $0.13. The company had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.95 billion. Lithia Motors had a net margin of 3.22% and a return on equity of 17.33%. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.05 earnings per share. As a group, analysts expect that Lithia Motors, Inc. will post 35.27 EPS for the current year.

Lithia Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Saturday, March 9th were issued a $0.50 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.00 annualized dividend and a dividend yield of 0.74%. Lithia Motors's dividend payout ratio is currently 5.51%.

Insider Activity

In related news, Director Shauna Mcintyre sold 135 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $297.84, for a total transaction of $40,208.40. Following the completion of the transaction, the director now owns 1,662 shares in the company, valued at $495,010.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.79% of the stock is currently owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.