Lithia Motors, Inc. $LAD Holdings Lifted by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its stake in Lithia Motors, Inc. (NYSE:LAD) by 124.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,622 shares of the company’s stock after acquiring an additional 4,223 shares during the period. Convergence Investment Partners LLC’s holdings in Lithia Motors were worth $2,409,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LAD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Lithia Motors by 13.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,474 shares of the company’s stock worth $2,487,000 after purchasing an additional 1,032 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Lithia Motors by 67.6% in the first quarter. Goldman Sachs Group Inc. now owns 113,346 shares of the company’s stock worth $33,272,000 after acquiring an additional 45,716 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Lithia Motors by 16.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,170 shares of the company’s stock valued at $27,349,000 after acquiring an additional 13,407 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Lithia Motors in the 2nd quarter valued at approximately $206,000. Finally, QRG Capital Management Inc. boosted its stake in Lithia Motors by 3.6% in the 2nd quarter. QRG Capital Management Inc. now owns 2,116 shares of the company’s stock worth $715,000 after purchasing an additional 74 shares during the period.

Insiders Place Their Bets

In other news, Director Congdon Stacy Loretz sold 75 shares of Lithia Motors stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $360.00, for a total value of $27,000.00. Following the transaction, the director directly owned 1,810 shares in the company, 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 SEC, which is accessible through this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LAD. Weiss Ratings restated a “hold (c+)” rating on shares of Lithia Motors in a report on Thursday, January 22nd. Barclays reduced their price objective on Lithia Motors from $410.00 to $390.00 and set an “overweight” rating for the company in a research note on Wednesday, January 21st. Citigroup lifted their target price on Lithia Motors from $385.00 to $399.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. upped their target price on Lithia Motors from $350.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Finally, Wells Fargo & Company raised their price target on shares of Lithia Motors from $327.00 to $358.00 and gave the stock an “equal weight” rating in a report on Monday, January 12th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $390.70.

Lithia Motors Stock Performance

Shares of NYSE LAD opened at $323.38 on Monday. The business’s 50-day simple moving average is $332.27 and its 200-day simple moving average is $319.90. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.30 and a current ratio of 1.21. Lithia Motors, Inc. has a 52 week low of $262.10 and a 52 week high of $405.14. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 9.36 and a beta of 1.20.

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.