Lithia Motors, Inc. (NYSE:LAD) is HITE Hedge Asset Management LLC’s 4th Largest Position

HITE Hedge Asset Management LLC grew its stake in Lithia Motors, Inc. (NYSE:LAD) by 5,233.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,629 shares of the company’s stock after purchasing an additional 105,611 shares during the period. Lithia Motors comprises approximately 3.9% of HITE Hedge Asset Management LLC’s investment portfolio, making the stock its 4th largest holding. HITE Hedge Asset Management LLC owned 0.40% of Lithia Motors worth $34,187,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Lithia Motors by 14.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,700,893 shares of the company’s stock valued at $429,390,000 after acquiring an additional 217,867 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Lithia Motors by 25.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,016,520 shares of the company’s stock worth $256,621,000 after purchasing an additional 203,543 shares during the last quarter. Verition Fund Management LLC grew its holdings in shares of Lithia Motors by 1,960.2% during the third quarter. Verition Fund Management LLC now owns 126,909 shares of the company’s stock valued at $40,311,000 after purchasing an additional 120,749 shares during the last quarter. Bridges Investment Management Inc. boosted its holdings in shares of Lithia Motors by 118.9% in the second quarter. Bridges Investment Management Inc. now owns 160,860 shares of the company’s stock valued at $40,609,000 after acquiring an additional 87,362 shares in the last quarter. Finally, FMR LLC increased its position in shares of Lithia Motors by 12.8% in the third quarter. FMR LLC now owns 753,067 shares of the company’s stock worth $239,204,000 after acquiring an additional 85,579 shares in the last quarter.

Insider Buying and Selling at Lithia Motors

In other news, CFO Tina Miller sold 1,000 shares of Lithia Motors stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $392.72, for a total value of $392,720.00. Following the completion of the sale, the chief financial officer now owns 10,403 shares of the company’s stock, valued at $4,085,466.16. The trade was a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bryan B. Deboer sold 6,742 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $400.00, for a total transaction of $2,696,800.00. Following the completion of the sale, the chief executive officer now directly owns 174,445 shares of the company’s stock, valued at $69,778,000. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,067 shares of company stock worth $20,933,294 over the last quarter. 1.79% of the stock is currently owned by company insiders.

Lithia Motors Price Performance

Shares of NYSE:LAD opened at $387.30 on Tuesday. The firm’s 50 day simple moving average is $341.95 and its two-hundred day simple moving average is $294.81. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.27. The company has a market capitalization of $10.32 billion, a P/E ratio of 13.22, a P/E/G ratio of 6.35 and a beta of 1.65. Lithia Motors, Inc. has a 1-year low of $243.00 and a 1-year high of $405.67.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $8.21 earnings per share (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 analysts’ expectations of $9.46 billion. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.25 earnings per share. Research analysts expect that Lithia Motors, Inc. will post 29.42 EPS for the current fiscal year.

Lithia Motors Announces Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on LAD shares. Citigroup upped their price objective on shares of Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Wells Fargo & Company lifted their price objective on shares of Lithia Motors from $299.00 to $343.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Stephens raised their target price on shares of Lithia Motors from $360.00 to $405.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Guggenheim lifted their target price on shares of Lithia Motors from $380.00 to $418.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley upgraded Lithia Motors from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $225.00 to $310.00 in a research report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $357.60.

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.