Lithia Motors, Inc. (NYSE:LAD) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Lithia Motors, Inc. (NYSE:LAD) by 12.0% in the first quarter, HoldingsChannel reports. The firm owned 4,756 shares of the company’s stock after selling 649 shares during the quarter. Victory Capital Management Inc.’s holdings in Lithia Motors were worth $1,396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LAD. Steadfast Capital Management LP boosted its holdings in Lithia Motors by 137.8% in the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company’s stock valued at $164,524,000 after purchasing an additional 266,715 shares during the period. Assenagon Asset Management S.A. purchased a new position in Lithia Motors in the first quarter valued at $36,762,000. Janney Montgomery Scott LLC boosted its holdings in Lithia Motors by 1,865.4% in the first quarter. Janney Montgomery Scott LLC now owns 92,293 shares of the company’s stock valued at $27,092,000 after purchasing an additional 87,597 shares during the period. Advent International L.P. boosted its holdings in Lithia Motors by 52.9% in the fourth quarter. Advent International L.P. now owns 217,151 shares of the company’s stock valued at $77,616,000 after purchasing an additional 75,151 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Lithia Motors by 44,194.6% in the first quarter. GAMMA Investing LLC now owns 73,972 shares of the company’s stock valued at $21,714,000 after purchasing an additional 73,805 shares during the period.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Lithia Motors in a report on Tuesday, June 3rd. They issued a “neutral” rating and a $340.00 target price for the company. Guggenheim decreased their price target on Lithia Motors from $417.00 to $356.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Bank of America lifted their price target on Lithia Motors from $430.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, June 16th. JPMorgan Chase & Co. decreased their price target on Lithia Motors from $345.00 to $335.00 and set an “overweight” rating for the company in a report on Wednesday, July 16th. Finally, Wells Fargo & Company decreased their price target on Lithia Motors from $364.00 to $317.00 and set an “equal weight” rating for the company in a report on Wednesday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $377.80.

Lithia Motors Stock Down 1.1%

LAD opened at $286.54 on Thursday. The business’s 50-day simple moving average is $326.67 and its 200-day simple moving average is $324.30. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.31 and a current ratio of 1.22. Lithia Motors, Inc. has a one year low of $255.32 and a one year high of $405.67. The stock has a market capitalization of $7.46 billion, a P/E ratio of 8.50, a price-to-earnings-growth ratio of 0.45 and a beta of 1.46.

Lithia Motors (NYSE:LAD) last posted its earnings results on Tuesday, July 29th. The company reported $10.24 EPS for the quarter, topping analysts’ consensus estimates of $9.78 by $0.46. Lithia Motors had a return on equity of 13.21% and a net margin of 2.39%. The business had revenue of $9.58 billion for the quarter, compared to analysts’ expectations of $9.56 billion. Analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, August 8th. Lithia Motors’s dividend payout ratio (DPR) is currently 6.93%.

Lithia Motors Company Profile

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.