Algert Global LLC Sells 3,113 Shares of Lithia Motors, Inc. $LAD

Algert Global LLC reduced its stake in Lithia Motors, Inc. (NYSE:LAD) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 42,517 shares of the company’s stock after selling 3,113 shares during the quarter. Algert Global LLC owned approximately 0.18% of Lithia Motors worth $13,435,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CoreCap Advisors LLC bought a new stake in Lithia Motors during the third quarter valued at about $26,000. Eastern Bank bought a new stake in shares of Lithia Motors in the third quarter valued at approximately $31,000. Root Financial Partners LLC bought a new stake in shares of Lithia Motors in the third quarter valued at approximately $31,000. Parkside Financial Bank & Trust grew its stake in shares of Lithia Motors by 75.0% in the third quarter. Parkside Financial Bank & Trust now owns 105 shares of the company’s stock worth $33,000 after acquiring an additional 45 shares during the last quarter. Finally, Winnow Wealth LLC bought a new position in Lithia Motors during the third quarter worth $46,000.

Lithia Motors Stock Performance

Lithia Motors stock opened at $254.90 on Monday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.17 and a quick ratio of 0.26. The stock has a fifty day moving average price of $308.23 and a two-hundred day moving average price of $317.34. Lithia Motors, Inc. has a 52-week low of $251.00 and a 52-week high of $360.55. The firm has a market capitalization of $5.96 billion, a P/E ratio of 7.93, a P/E/G ratio of 0.58 and a beta of 1.21.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, February 11th. The company reported $6.74 EPS for the quarter, missing the consensus estimate of $8.09 by ($1.35). The firm had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.19 billion. Lithia Motors had a net margin of 2.18% and a return on equity of 12.76%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.79 EPS. As a group, analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a $0.55 dividend. The ex-dividend date is Friday, March 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.9%. Lithia Motors’s payout ratio is 6.85%.

Analysts Set New Price Targets

A number of analysts have weighed in on LAD shares. Citigroup reduced their price target on shares of Lithia Motors from $399.00 to $366.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Wells Fargo & Company dropped their price objective on shares of Lithia Motors from $358.00 to $355.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lithia Motors in a research report on Thursday, January 22nd. JPMorgan Chase & Co. cut shares of Lithia Motors from an “overweight” rating to a “neutral” rating and set a $335.00 target price for the company. in a research note on Friday, February 20th. Finally, Bank of America started coverage on Lithia Motors in a research note on Wednesday, March 4th. They set a “neutral” rating on the stock. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Lithia Motors presently has an average rating of “Moderate Buy” and a consensus price target of $382.33.

Lithia Motors Company Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.