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

QRG Capital Management Inc. lessened its stake in Lithia Motors, Inc. (NYSE:LAD) by 7.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,919 shares of the company’s stock after selling 152 shares during the period. QRG Capital Management Inc.’s holdings in Lithia Motors were worth $686,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in shares of Lithia Motors during the fourth quarter worth $13,294,000. Oppenheimer Asset Management Inc. boosted its holdings in Lithia Motors by 2.6% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 2,578 shares of the company’s stock valued at $921,000 after acquiring an additional 65 shares during the period. Bank of New York Mellon Corp boosted its holdings in Lithia Motors by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 237,714 shares of the company’s stock valued at $84,966,000 after acquiring an additional 3,558 shares during the period. Venturi Wealth Management LLC grew its position in Lithia Motors by 34.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,139 shares of the company’s stock valued at $407,000 after acquiring an additional 291 shares in the last quarter. Finally, Truist Financial Corp increased its stake in Lithia Motors by 17.7% during the fourth quarter. Truist Financial Corp now owns 1,456 shares of the company’s stock worth $520,000 after purchasing an additional 219 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LAD. StockNews.com upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Tuesday, January 14th. Benchmark restated a “buy” rating and issued a $400.00 price target on shares of Lithia Motors in a research note on Thursday, February 20th. Guggenheim increased their price objective on Lithia Motors from $380.00 to $418.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Evercore ISI boosted their target price on Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company increased their price target on Lithia Motors from $346.00 to $397.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $371.36.

Lithia Motors Price Performance

Shares of NYSE LAD opened at $317.96 on Wednesday. The stock’s 50-day simple moving average is $359.36 and its 200-day simple moving average is $341.18. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.28 and a current ratio of 1.19. The firm has a market capitalization of $8.36 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 4.65 and a beta of 1.67. Lithia Motors, Inc. has a fifty-two week low of $243.00 and a fifty-two week high of $405.67.

Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $7.79 earnings per share for the quarter, topping analysts’ consensus estimates of $7.33 by $0.46. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. As a group, equities research analysts forecast that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.53 dividend. The ex-dividend date is Friday, March 7th. This represents a $2.12 annualized dividend and a yield of 0.67%. Lithia Motors’s dividend payout ratio is presently 7.14%.

Insiders Place Their Bets

In related news, COO Adam Chamberlain sold 403 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $384.28, for a total value of $154,864.84. Following the completion of the sale, the chief operating officer now directly owns 2,605 shares of the company’s stock, valued at $1,001,049.40. This represents a 13.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary M. Glandon sold 325 shares of Lithia Motors stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $387.86, for a total value of $126,054.50. Following the transaction, the insider now directly owns 1,665 shares in the company, valued at approximately $645,786.90. This trade represents a 16.33 % decrease in their position. The disclosure for this sale can be found here. 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.