Lithia Motors, Inc. (NYSE:LAD) Shares Sold by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT lowered its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 18.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,849 shares of the company’s stock after selling 11,792 shares during the quarter. Lithia Motors makes up about 5.1% of Iridian Asset Management LLC CT’s holdings, making the stock its 6th largest holding. Iridian Asset Management LLC CT owned 0.20% of Lithia Motors worth $19,247,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. FMR LLC increased its holdings in shares of Lithia Motors by 12.8% in the third quarter. FMR LLC now owns 753,067 shares of the company’s stock valued at $239,204,000 after purchasing an additional 85,579 shares during the last quarter. River Road Asset Management LLC increased its holdings in shares of Lithia Motors by 27.5% in the third quarter. River Road Asset Management LLC now owns 365,184 shares of the company’s stock valued at $115,997,000 after purchasing an additional 78,784 shares during the last quarter. Tensile Capital Management LP increased its holdings in shares of Lithia Motors by 2.4% in the third quarter. Tensile Capital Management LP now owns 261,527 shares of the company’s stock valued at $83,071,000 after purchasing an additional 6,252 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Lithia Motors by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 259,916 shares of the company’s stock valued at $82,560,000 after purchasing an additional 37,677 shares during the last quarter. Finally, Bridges Investment Management Inc. increased its holdings in shares of Lithia Motors by 43.5% in the third quarter. Bridges Investment Management Inc. now owns 230,761 shares of the company’s stock valued at $73,299,000 after purchasing an additional 69,901 shares during the last quarter.

Analysts Set New Price Targets

LAD has been the subject of several recent research reports. StockNews.com raised Lithia Motors from a “sell” rating to a “hold” rating in a report on Tuesday, January 14th. Stephens increased their price objective on Lithia Motors from $360.00 to $405.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their price objective on Lithia Motors from $343.00 to $346.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Benchmark assumed coverage on Lithia Motors in a research report on Wednesday, January 8th. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Guggenheim increased their price objective on Lithia Motors from $380.00 to $418.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $357.40.

Lithia Motors Stock Down 0.5 %

LAD opened at $381.18 on Friday. Lithia Motors, Inc. has a one year low of $243.00 and a one year high of $405.67. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.27 and a current ratio of 1.18. The stock has a market capitalization of $10.15 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 4.82 and a beta of 1.67. The business’s 50-day simple moving average is $364.07 and its 200-day simple moving average is $329.88.

Insider Activity

In other Lithia Motors 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 owns 1,729 shares in the company, valued at approximately $661,964.94. The trade was a 12.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Tina Miller sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 10,403 shares in the company, valued at $4,085,466.16. The trade was a 8.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 38,770 shares of company stock valued at $15,103,607. 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.