Amalgamated Bank Decreases Stock Position in Lithia Motors, Inc. (NYSE:LAD)

Amalgamated Bank lessened its position in shares of Lithia Motors, Inc. (NYSE:LADGet Rating) by 3.0% during the first quarter, Holdings Channel reports. The institutional investor owned 20,972 shares of the company’s stock after selling 659 shares during the quarter. Amalgamated Bank’s holdings in Lithia Motors were worth $6,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Offit Capital Advisors LLC purchased a new position in shares of Lithia Motors during the 1st quarter valued at $281,000. Bank of America Corp DE lifted its holdings in Lithia Motors by 19.0% during the 1st quarter. Bank of America Corp DE now owns 114,112 shares of the company’s stock worth $34,248,000 after purchasing an additional 18,232 shares in the last quarter. Weiss Multi Strategy Advisers LLC lifted its holdings in Lithia Motors by 85.0% during the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 46,478 shares of the company’s stock worth $13,949,000 after purchasing an additional 21,352 shares in the last quarter. Avalon Investment & Advisory lifted its holdings in Lithia Motors by 12.9% during the 1st quarter. Avalon Investment & Advisory now owns 7,909 shares of the company’s stock worth $2,374,000 after purchasing an additional 901 shares in the last quarter. Finally, MidWestOne Financial Group Inc. purchased a new stake in Lithia Motors during the 1st quarter worth about $684,000. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Lithia Motors from $380.00 to $325.00 in a report on Friday, July 15th. Morgan Stanley lowered their price target on Lithia Motors from $260.00 to $220.00 and set an “underweight” rating on the stock in a report on Thursday, July 14th. StockNews.com cut Lithia Motors from a “buy” rating to a “hold” rating in a report on Saturday, July 23rd. Bank of America lowered their price target on Lithia Motors from $565.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, September 9th. Finally, Wells Fargo & Company lowered their price target on Lithia Motors from $350.00 to $348.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $388.20.

Insider Buying and Selling

In related news, Director Shauna Mcintyre sold 180 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $241.34, for a total transaction of $43,441.20. Following the transaction, the director now directly owns 1,839 shares in the company, valued at approximately $443,824.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Lithia Motors news, Director Sidney B. Deboer acquired 1,000 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were purchased at an average cost of $268.43 per share, for a total transaction of $268,430.00. Following the transaction, the director now owns 36,735 shares in the company, valued at $9,860,776.05. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Shauna Mcintyre sold 180 shares of Lithia Motors stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $241.34, for a total value of $43,441.20. Following the completion of the sale, the director now owns 1,839 shares in the company, valued at $443,824.26. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Lithia Motors Price Performance

LAD opened at $238.08 on Monday. The stock’s 50 day simple moving average is $266.08 and its 200 day simple moving average is $287.17. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.59 and a quick ratio of 0.45. Lithia Motors, Inc. has a 1 year low of $233.87 and a 1 year high of $366.36. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of 5.56, a PEG ratio of 0.98 and a beta of 1.36.

Lithia Motors (NYSE:LADGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $12.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.22 by ($0.04). Lithia Motors had a return on equity of 29.61% and a net margin of 4.82%. The company had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $7.22 billion. During the same quarter in the previous year, the business earned $11.12 earnings per share. Lithia Motors’s revenue was up 20.5% compared to the same quarter last year. As a group, analysts predict that Lithia Motors, Inc. will post 47.81 earnings per share for the current year.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.68 annualized dividend and a yield of 0.71%. Lithia Motors’s payout ratio is 3.92%.

Lithia Motors Company Profile

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Lithia Motors, Inc operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Luxury. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells vehicle body and parts under the Driveway and GreenCars brand names.

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Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

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