Sendero Wealth Management LLC Sells 322 Shares of Lithia Motors, Inc. $LAD

Sendero Wealth Management LLC reduced its position in Lithia Motors, Inc. (NYSE:LADFree Report) by 2.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,140 shares of the company’s stock after selling 322 shares during the quarter. Sendero Wealth Management LLC owned 0.06% of Lithia Motors worth $5,115,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LAD. Wealth Enhancement Advisory Services LLC boosted its stake in Lithia Motors by 8.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 844 shares of the company’s stock worth $302,000 after buying an additional 64 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Lithia Motors in the 1st quarter valued at $59,000. UMB Bank n.a. boosted its stake in shares of Lithia Motors by 63.7% in the 1st quarter. UMB Bank n.a. now owns 203 shares of the company’s stock valued at $60,000 after purchasing an additional 79 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Lithia Motors by 86.6% during the 1st quarter. Harbor Capital Advisors Inc. now owns 12,053 shares of the company’s stock valued at $3,538,000 after purchasing an additional 5,592 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Lithia Motors by 50.9% in the 1st quarter. GAMMA Investing LLC now owns 252 shares of the company’s stock worth $74,000 after purchasing an additional 85 shares during the period.

Lithia Motors Price Performance

LAD opened at $320.86 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.29 and a current ratio of 1.22. The stock has a market capitalization of $8.23 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.65 and a beta of 1.28. The stock’s 50 day moving average price is $319.16 and its 200-day moving average price is $315.48. Lithia Motors, Inc. has a 52-week low of $262.10 and a 52-week high of $405.67.

Lithia Motors (NYSE:LADGet Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $10.24 earnings per share for the quarter, beating the consensus estimate of $9.78 by $0.46. The business had revenue of $9.58 billion for the quarter, compared to analysts’ expectations of $9.56 billion. Lithia Motors had a net margin of 2.39% and a return on equity of 13.21%. On average, equities research analysts predict that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 8th. Lithia Motors’s payout ratio is presently 6.52%.

Lithia Motors announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 26th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LAD. Bank of America cut their price target on shares of Lithia Motors from $500.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, September 10th. Guggenheim reduced their price target on Lithia Motors from $383.00 to $380.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Wells Fargo & Company lowered their price objective on Lithia Motors from $364.00 to $317.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 30th. Citigroup increased their price objective on Lithia Motors from $378.00 to $383.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lithia Motors in a research note on Saturday, September 27th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $376.50.

Check Out Our Latest Stock Analysis on LAD

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 256 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $293.05, for a total transaction of $75,020.80. Following the transaction, the director owned 1,376 shares in the company, valued at approximately $403,236.80. This represents a 15.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

Lithia Motors Company Profile

(Free Report)

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.

Further Reading

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

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