Gary M. Glandon Sells 242 Shares of Lithia Motors, Inc. (NYSE:LAD) Stock

Lithia Motors, Inc. (NYSE:LAD) insider Gary M. Glandon sold 242 shares of the firm’s stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Lithia Motors Trading Up 2.2 %

Shares of NYSE:LAD opened at $390.86 on Friday. Lithia Motors, Inc. has a 52-week low of $243.00 and a 52-week high of $391.14. 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 company has a market capitalization of $10.41 billion, a P/E ratio of 13.34 and a beta of 1.63. The company has a 50-day simple moving average of $330.58 and a 200 day simple moving average of $289.40.

Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $8.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.60 by $0.61. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The company had revenue of $9.22 billion during the quarter, compared to analysts’ expectations of $9.46 billion. During the same period last year, the firm posted $9.25 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. Sell-side analysts forecast that Lithia Motors, Inc. will post 29.09 earnings per share for the current year.

Lithia Motors Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.12 annualized dividend and a yield of 0.54%. Lithia Motors’s dividend payout ratio (DPR) is presently 7.24%.

Institutional Trading of Lithia Motors

Several institutional investors have recently added to or reduced their stakes in LAD. Versor Investments LP raised its position in shares of Lithia Motors by 7.0% in the third quarter. Versor Investments LP now owns 856 shares of the company’s stock valued at $272,000 after buying an additional 56 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Lithia Motors during the 2nd quarter worth about $607,000. Comerica Bank boosted its holdings in Lithia Motors by 89.0% in the first quarter. Comerica Bank now owns 29,473 shares of the company’s stock valued at $8,867,000 after acquiring an additional 13,875 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Lithia Motors by 22.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 70,405 shares of the company’s stock worth $17,774,000 after purchasing an additional 13,126 shares during the period. Finally, Bridges Investment Management Inc. boosted its stake in shares of Lithia Motors by 118.9% in the 2nd quarter. Bridges Investment Management Inc. now owns 160,860 shares of the company’s stock valued at $40,609,000 after purchasing an additional 87,362 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LAD shares. StockNews.com cut Lithia Motors from a “hold” rating to a “sell” rating in a report on Thursday. Citigroup raised their price target 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. Guggenheim boosted their price target on shares of Lithia Motors from $380.00 to $418.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group increased their price objective on shares of Lithia Motors from $300.00 to $335.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lifted their target price on Lithia Motors from $299.00 to $343.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $357.60.

About Lithia Motors

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.