MML Investors Services LLC Lowers Stock Position in Lithia Motors, Inc. (NYSE:LAD)

MML Investors Services LLC lessened its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 13.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 950 shares of the company’s stock after selling 145 shares during the period. MML Investors Services LLC’s holdings in Lithia Motors were worth $302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Lithia Motors during the third quarter worth about $35,000. Blue Trust Inc. boosted its position in shares of Lithia Motors by 49.3% in the 3rd quarter. Blue Trust Inc. now owns 200 shares of the company’s stock worth $64,000 after purchasing an additional 66 shares in the last quarter. Signaturefd LLC grew its stake in shares of Lithia Motors by 23.9% in the 3rd quarter. Signaturefd LLC now owns 249 shares of the company’s stock worth $79,000 after buying an additional 48 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Lithia Motors during the 2nd quarter valued at approximately $80,000. Finally, Headlands Technologies LLC purchased a new position in Lithia Motors during the second quarter valued at $116,000.

Lithia Motors Stock Performance

LAD stock opened at $364.05 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.27. Lithia Motors, Inc. has a 1 year low of $243.00 and a 1 year high of $405.67. The company has a market cap of $9.70 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 6.25 and a beta of 1.65. The stock’s fifty day moving average price is $363.32 and its 200-day moving average price is $308.00.

Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.60 by $0.61. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The business had revenue of $9.22 billion for the quarter, compared to analysts’ expectations of $9.46 billion. During the same period last year, the firm posted $9.25 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities analysts forecast that Lithia Motors, Inc. will post 29.42 earnings per share for the current year.

Lithia Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.12 annualized dividend and a yield of 0.58%. Lithia Motors’s payout ratio is presently 7.24%.

Insider Transactions at Lithia Motors

In other news, COO Chris Holzshu sold 8,520 shares of Lithia Motors stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $335.21, for a total transaction of $2,855,989.20. Following the transaction, the chief operating officer now directly owns 32,054 shares of the company’s stock, valued at $10,744,821.34. The trade was a 21.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gary M. Glandon sold 242 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $382.86, for a total transaction of $92,652.12. Following the completion of the sale, the insider now directly owns 1,729 shares of the company’s stock, valued at $661,964.94. This represents a 12.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,290 shares of company stock worth $17,959,596 in the last 90 days. 1.79% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LAD has been the subject of several analyst reports. Stephens raised their price target on Lithia Motors from $360.00 to $405.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup lifted their target price on shares of Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Morgan Stanley upgraded shares of Lithia Motors from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $225.00 to $310.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on Lithia Motors from $375.00 to $405.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, StockNews.com raised Lithia Motors from a “sell” rating to a “hold” rating in a report on Friday, November 29th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Lithia Motors presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.60.

About Lithia Motors

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.