HighVista Strategies LLC Buys Shares of 6,000 Lithia Motors, Inc. (NYSE:LAD)

HighVista Strategies LLC purchased a new position in Lithia Motors, Inc. (NYSE:LAD) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,000 shares of the company’s stock, valued at approximately $1,906,000.

A number of other institutional investors have also made changes to their positions in LAD. Price T Rowe Associates Inc. MD boosted its holdings in Lithia Motors by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,223 shares of the company’s stock worth $4,580,000 after buying an additional 842 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Lithia Motors by 13.3% in the first quarter. EverSource Wealth Advisors LLC now owns 554 shares of the company’s stock valued at $167,000 after purchasing an additional 65 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Lithia Motors in the second quarter worth $607,000. Diversified Trust Co acquired a new stake in Lithia Motors in the second quarter worth $339,000. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Lithia Motors by 15.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 1,587 shares of the company’s stock worth $401,000 after purchasing an additional 213 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently commented on LAD shares. JPMorgan Chase & Co. raised their price objective on Lithia Motors from $375.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Guggenheim lifted their price objective on Lithia Motors from $380.00 to $418.00 and gave the company a “buy” rating in a report on Thursday, November 21st. StockNews.com raised Lithia Motors from a “sell” rating to a “hold” rating in a research note on Friday. Citigroup lifted their price target on shares of Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Finally, Stephens upped their price target on shares of Lithia Motors from $360.00 to $405.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Lithia Motors has a consensus rating of “Moderate Buy” and an average target price of $357.60.

Lithia Motors Stock Performance

Shares of LAD opened at $387.30 on Tuesday. The stock has a market capitalization of $10.32 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 6.35 and a beta of 1.65. Lithia Motors, Inc. has a 12 month low of $243.00 and a 12 month high of $405.67. The firm has a fifty day simple moving average of $341.95 and a 200 day simple moving average of $294.81. The company has a current ratio of 1.18, a quick ratio of 0.27 and a debt-to-equity ratio of 1.23.

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

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, November 8th. Lithia Motors’s dividend payout ratio (DPR) is 7.24%.

Insider Transactions at Lithia Motors

In related news, insider Gary M. Glandon sold 242 shares of the business’s 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 transaction, the insider now directly owns 1,729 shares of the company’s stock, valued at approximately $661,964.94. The trade was a 12.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tina Miller sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $392.72, for a total value of $392,720.00. Following the sale, the chief financial officer now directly owns 10,403 shares of the company’s stock, valued at $4,085,466.16. This represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,067 shares of company stock worth $20,933,294 in the last 90 days. Corporate insiders own 1.79% of the company’s stock.

Lithia Motors 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.