Insider Selling: Lithia Motors (NYSE:LAD) Director Sells 165 Shares of Stock

Lithia Motors, Inc. (NYSE:LADGet Free Report) Director Shauna Mcintyre sold 165 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $305.64, for a total transaction of $50,430.60. Following the completion of the sale, the director owned 1,681 shares in the company, valued at approximately $513,780.84. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shauna Mcintyre also recently made the following trade(s):

  • On Monday, May 11th, Shauna Mcintyre sold 245 shares of Lithia Motors stock. The shares were sold at an average price of $294.64, for a total transaction of $72,186.80.

Lithia Motors Trading Up 2.5%

NYSE:LAD traded up $7.60 during mid-day trading on Thursday, hitting $312.43. 276,446 shares of the stock traded hands, compared to its average volume of 312,165. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 0.67 and a beta of 1.26. Lithia Motors, Inc. has a 52 week low of $239.78 and a 52 week high of $360.55. The firm’s 50 day moving average is $278.55 and its two-hundred day moving average is $298.68. The company has a quick ratio of 0.24, a current ratio of 0.99 and a debt-to-equity ratio of 1.41.

Lithia Motors (NYSE:LADGet Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $7.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.06 by $0.28. Lithia Motors had a net margin of 1.88% and a return on equity of 12.49%. The company had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the company earned $7.66 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities research analysts predict that Lithia Motors, Inc. will post 34.37 earnings per share for the current year.

Lithia Motors declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 7.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Lithia Motors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a yield of 0.7%. Lithia Motors’s dividend payout ratio is currently 8.01%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LAD. Wall Street Zen upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Wells Fargo & Company increased their price objective on shares of Lithia Motors from $293.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. UBS Group began coverage on shares of Lithia Motors in a research note on Wednesday, May 27th. They issued a “buy” rating and a $348.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Lithia Motors from $320.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Zacks Research upgraded shares of Lithia Motors from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 23rd. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.11.

Check Out Our Latest Research Report on LAD

Hedge Funds Weigh In On Lithia Motors

Several hedge funds and other institutional investors have recently modified their holdings of LAD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Lithia Motors by 13.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,474 shares of the company’s stock valued at $2,487,000 after acquiring an additional 1,032 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Lithia Motors by 67.6% in the first quarter. Goldman Sachs Group Inc. now owns 113,346 shares of the company’s stock valued at $33,272,000 after purchasing an additional 45,716 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Lithia Motors by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,170 shares of the company’s stock worth $27,349,000 after acquiring an additional 13,407 shares during the last quarter. Federated Hermes Inc. lifted its stake in Lithia Motors by 16.2% in the second quarter. Federated Hermes Inc. now owns 2,430 shares of the company’s stock worth $821,000 after acquiring an additional 338 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Lithia Motors in the second quarter worth approximately $651,000.

About Lithia Motors

(Get Free Report)

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.

Further Reading

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