Offit Capital Advisors LLC Purchases New Stake in Lithia Motors, Inc. (NYSE:LAD)

Offit Capital Advisors LLC purchased a new stake in shares of Lithia Motors, Inc. (NYSE:LADGet Rating) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 935 shares of the company’s stock, valued at approximately $281,000.

Several other institutional investors also recently added to or reduced their stakes in LAD. Royal London Asset Management Ltd. bought a new position in Lithia Motors during the first quarter valued at about $93,542,000. MFN Partners Management LP boosted its position in Lithia Motors by 43.0% during the first quarter. MFN Partners Management LP now owns 751,077 shares of the company’s stock worth $225,413,000 after purchasing an additional 225,806 shares during the period. Eaton Vance Management boosted its position in Lithia Motors by 37,874.1% during the first quarter. Eaton Vance Management now owns 171,263 shares of the company’s stock worth $51,400,000 after purchasing an additional 170,812 shares during the period. Geode Capital Management LLC boosted its position in Lithia Motors by 40.5% during the fourth quarter. Geode Capital Management LLC now owns 512,096 shares of the company’s stock worth $152,066,000 after purchasing an additional 147,572 shares during the period. Finally, Millennium Management LLC boosted its position in Lithia Motors by 28.4% during the fourth quarter. Millennium Management LLC now owns 371,352 shares of the company’s stock worth $110,273,000 after purchasing an additional 82,238 shares during the period. Institutional investors own 97.28% of the company’s stock.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 135 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $271.55, for a total value of $36,659.25. Following the sale, the director now directly owns 2,019 shares of the company’s stock, valued at $548,259.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lithia Motors news, Director Shauna Mcintyre sold 135 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $271.55, for a total transaction of $36,659.25. Following the transaction, the director now directly owns 2,019 shares in the company, valued at $548,259.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sidney B. Deboer purchased 1,000 shares of Lithia Motors stock in a transaction on Friday, August 19th. The shares were acquired at an average price of $268.43 per share, for a total transaction of $268,430.00. Following the completion of the transaction, the director now directly owns 36,735 shares of the company’s stock, valued at $9,860,776.05. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by insiders.

Lithia Motors Trading Down 1.5 %

Shares of Lithia Motors stock opened at $238.08 on Friday. Lithia Motors, Inc. has a 12-month low of $233.87 and a 12-month high of $366.36. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 5.56, a PEG ratio of 1.00 and a beta of 1.36. The company has a current ratio of 1.59, a quick ratio of 0.45 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average price is $266.08 and its 200-day moving average price is $287.95.

Lithia Motors (NYSE:LADGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $12.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.22 by ($0.04). The firm had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.22 billion. Lithia Motors had a return on equity of 29.61% and a net margin of 4.82%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the company posted $11.12 earnings per share. On average, equities analysts expect that Lithia Motors, Inc. will post 47.81 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, August 11th. Lithia Motors’s dividend payout ratio is currently 3.92%.

Analyst Upgrades and Downgrades

LAD has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of Lithia Motors from $260.00 to $220.00 and set an “underweight” rating for the company in a research report on Thursday, July 14th. JPMorgan Chase & Co. cut their target price on shares of Lithia Motors from $380.00 to $325.00 in a research report on Friday, July 15th. Wells Fargo & Company cut their target price on shares of Lithia Motors from $350.00 to $348.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. StockNews.com lowered shares of Lithia Motors from a “buy” rating to a “hold” rating in a research report on Saturday, July 23rd. Finally, Bank of America lowered their price target on shares of Lithia Motors from $565.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, September 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $388.20.

About Lithia Motors

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Lithia Motors, Inc operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Luxury. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells vehicle body and parts under the Driveway and GreenCars brand names.

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Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

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