Wesbanco Bank Inc. Invests $975,000 in Lithia Motors, Inc. (NYSE:LAD)

Wesbanco Bank Inc. acquired a new position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,240 shares of the company's stock, valued at approximately $975,000.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its stake in Lithia Motors by 98.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,059 shares of the company's stock valued at $3,026,000 after buying an additional 4,999 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in Lithia Motors by 2.2% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 3,468 shares of the company's stock valued at $1,043,000 after buying an additional 73 shares in the last quarter. State of Michigan Retirement System boosted its stake in Lithia Motors by 3.0% in the 1st quarter. State of Michigan Retirement System now owns 6,787 shares of the company's stock valued at $2,042,000 after buying an additional 200 shares in the last quarter. Sendero Wealth Management LLC boosted its stake in Lithia Motors by 15.7% in the 1st quarter. Sendero Wealth Management LLC now owns 11,949 shares of the company's stock valued at $3,595,000 after buying an additional 1,617 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Lithia Motors by 4.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,489 shares of the company's stock worth $749,000 after buying an additional 98 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LAD shares. Stephens restated an "overweight" rating and set a $375.00 target price on shares of Lithia Motors in a research report on Wednesday, February 14th. Citigroup cut their price objective on shares of Lithia Motors from $320.00 to $280.00 and set a "neutral" rating on the stock in a report on Thursday, April 25th. The Goldman Sachs Group lifted their target price on shares of Lithia Motors from $300.00 to $334.00 and gave the stock a "neutral" rating in a report on Thursday, February 15th. Guggenheim reduced their price target on Lithia Motors from $320.00 to $297.00 and set a "buy" rating on the stock in a research report on Wednesday, April 17th. Finally, Craig Hallum dropped their price objective on Lithia Motors from $350.00 to $310.00 and set a "buy" rating for the company in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Lithia Motors presently has an average rating of "Hold" and a consensus target price of $318.55.

Insider Buying and Selling

In related news, Director Shauna Mcintyre sold 138 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total transaction of $35,109.96. Following the completion of the sale, the director now directly owns 2,228 shares of the company's stock, valued at approximately $566,847.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.79% of the stock is owned by company insiders.

Lithia Motors Trading Up 0.9 %

Shares of NYSE:LAD traded up $2.28 during mid-day trading on Friday, reaching $253.48. The stock had a trading volume of 192,245 shares, compared to its average volume of 329,953. The firm has a market cap of $6.98 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 2.29 and a beta of 1.59. The firm has a 50 day simple moving average of $279.52 and a two-hundred day simple moving average of $283.06. The company has a current ratio of 1.17, a quick ratio of 0.28 and a debt-to-equity ratio of 1.17. Lithia Motors, Inc. has a twelve month low of $206.69 and a twelve month high of $331.96.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share for the quarter, missing analysts' consensus estimates of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.58 billion. During the same quarter in the prior year, the business earned $8.44 earnings per share. The business's revenue was up 22.7% on a year-over-year basis. On average, research analysts predict that Lithia Motors, Inc. will post 32.24 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.84%. This is a boost from Lithia Motors's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, May 9th. Lithia Motors's dividend payout ratio is presently 5.90%.

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.

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