Russell Investments Group Ltd. Sells 21,574 Shares of Lithia Motors, Inc. (NYSE:LAD)

Russell Investments Group Ltd. cut its position in Lithia Motors, Inc. (NYSE:LAD) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,646 shares of the company’s stock after selling 21,574 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.66% of Lithia Motors worth $60,129,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in Lithia Motors during the 3rd quarter valued at $32,000. Denali Advisors LLC raised its position in shares of Lithia Motors by 5,050.0% during the fourth quarter. Denali Advisors LLC now owns 103 shares of the company’s stock valued at $34,000 after buying an additional 101 shares during the last quarter. JFS Wealth Advisors LLC lifted its stake in shares of Lithia Motors by 509.5% in the third quarter. JFS Wealth Advisors LLC now owns 128 shares of the company’s stock valued at $38,000 after buying an additional 107 shares during the period. GAMMA Investing LLC acquired a new stake in Lithia Motors during the fourth quarter worth about $49,000. Finally, Fifth Third Bancorp increased its stake in Lithia Motors by 32.0% during the third quarter. Fifth Third Bancorp now owns 231 shares of the company’s stock valued at $68,000 after acquiring an additional 56 shares during the period.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Craig Hallum decreased their price objective on Lithia Motors from $350.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday. Morgan Stanley boosted their price target on shares of Lithia Motors from $220.00 to $230.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Stephens restated an “overweight” rating and issued a $375.00 price objective on shares of Lithia Motors in a research note on Wednesday, February 14th. Evercore ISI started coverage on shares of Lithia Motors in a research report on Wednesday, January 17th. They set an “outperform” rating and a $400.00 target price on the stock. Finally, StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $320.82.

Lithia Motors Stock Up 1.9 %

NYSE LAD opened at $262.72 on Monday. The stock’s 50 day simple moving average is $282.64 and its 200 day simple moving average is $283.65. Lithia Motors, Inc. has a one year low of $206.69 and a one year high of $331.96. The firm has a market cap of $7.23 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 2.33 and a beta of 1.58. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 0.28.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). The business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.58 billion. Lithia Motors had a return on equity of 15.59% and a net margin of 2.87%. Lithia Motors’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.44 EPS. As a group, sell-side analysts forecast that Lithia Motors, Inc. will post 33.17 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.81%. Lithia Motors’s payout ratio is currently 5.90%.

Insider Transactions at Lithia Motors

In related news, Director Shauna Mcintyre sold 135 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $297.84, for a total value of $40,208.40. Following the completion of the transaction, the director now owns 1,662 shares in the company, valued at approximately $495,010.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.79% of the stock is owned by company insiders.

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.