Lithia Motors, Inc. $LAD Position Trimmed by GW&K Investment Management LLC

GW&K Investment Management LLC decreased its holdings in Lithia Motors, Inc. (NYSE:LAD) by 64.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,196 shares of the company’s stock after selling 14,787 shares during the period. GW&K Investment Management LLC’s holdings in Lithia Motors were worth $2,590,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LAD. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Lithia Motors during the 3rd quarter worth $1,601,000. Bridges Investment Management Inc. boosted its stake in shares of Lithia Motors by 3.0% during the 3rd quarter. Bridges Investment Management Inc. now owns 263,157 shares of the company’s stock worth $83,158,000 after acquiring an additional 7,558 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Lithia Motors during the 3rd quarter valued at about $557,000. Hennessy Advisors Inc. acquired a new stake in Lithia Motors in the 3rd quarter worth approximately $39,342,000. Finally, Jupiter Asset Management Ltd. bought a new stake in Lithia Motors during the third quarter worth approximately $548,000.

Lithia Motors Stock Down 2.7%

Shares of LAD stock opened at $259.89 on Friday. Lithia Motors, Inc. has a one year low of $256.98 and a one year high of $360.55. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.17 and a quick ratio of 0.26. The stock has a fifty day moving average price of $315.60 and a 200 day moving average price of $319.48. The stock has a market cap of $6.08 billion, a P/E ratio of 8.09, a price-to-earnings-growth ratio of 0.61 and a beta of 1.20.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $6.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.09 by ($1.35). The business had revenue of $9.20 billion during the quarter, compared to analyst estimates of $9.19 billion. Lithia Motors had a net margin of 2.18% and a return on equity of 12.76%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.79 EPS. Analysts predict that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, March 6th. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. Lithia Motors’s dividend payout ratio (DPR) is currently 6.85%.

Insider Buying and Selling

In other Lithia Motors news, Director Congdon Stacy Loretz sold 75 shares of Lithia Motors stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $360.00, for a total transaction of $27,000.00. Following the sale, the director directly owned 1,810 shares of the company’s stock, valued at approximately $651,600. The trade was a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LAD shares. JPMorgan Chase & Co. lowered shares of Lithia Motors from an “overweight” rating to a “neutral” rating and set a $335.00 target price on the stock. in a research note on Friday, February 20th. Barclays lowered their price target on Lithia Motors from $390.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. Wall Street Zen cut Lithia Motors from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Bank of America began coverage on Lithia Motors in a research note on Wednesday. They set a “neutral” rating for the company. Finally, Citigroup lowered their target price on Lithia Motors from $399.00 to $366.00 and set a “buy” rating on the stock in a report on Thursday. Six investment 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, the company has a consensus rating of “Moderate Buy” and an average target price of $382.33.

Lithia Motors Company Profile

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.