JPMorgan Chase & Co. Sells 9,281 Shares of Lithia Motors, Inc. (NYSE:LAD)

JPMorgan Chase & Co. lessened its holdings in shares of Lithia Motors, Inc. (NYSE:LADGet Rating) by 3.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 289,556 shares of the company’s stock after selling 9,281 shares during the period. JPMorgan Chase & Co.’s holdings in Lithia Motors were worth $79,572,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Adirondack Trust Co. grew its holdings in shares of Lithia Motors by 100.0% during the second quarter. Adirondack Trust Co. now owns 100 shares of the company’s stock worth $27,000 after purchasing an additional 50 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Lithia Motors by 97.6% in the first quarter. Quadrant Capital Group LLC now owns 164 shares of the company’s stock valued at $49,000 after acquiring an additional 81 shares during the last quarter. Ten Capital Wealth Advisors LLC bought a new position in Lithia Motors in the first quarter valued at about $52,000. First Horizon Advisors Inc. boosted its holdings in Lithia Motors by 2,112.5% in the second quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock valued at $48,000 after acquiring an additional 169 shares during the last quarter. Finally, Charter Oak Capital Management LLC bought a new position in Lithia Motors in the second quarter valued at about $53,000. Institutional investors own 97.28% of the company’s stock.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 180 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $241.34, for a total transaction of $43,441.20. Following the sale, the director now owns 1,839 shares of the company’s stock, valued at $443,824.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LAD has been the topic of several recent research reports. The Goldman Sachs Group decreased their price target on Lithia Motors from $300.00 to $265.00 and set a “neutral” rating on the stock in a report on Friday, October 21st. Guggenheim cut their target price on Lithia Motors to $358.00 in a research note on Thursday, October 13th. Craig Hallum cut their target price on Lithia Motors from $540.00 to $360.00 in a research note on Thursday, October 20th. Morgan Stanley cut their target price on Lithia Motors from $220.00 to $200.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 26th. Finally, TheStreet lowered Lithia Motors from a “b” rating to a “c+” rating in a research note on Friday, September 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $311.00.

Lithia Motors Trading Up 1.1 %

NYSE LAD opened at $227.14 on Thursday. The firm has a market cap of $6.21 billion, a P/E ratio of 5.09, a P/E/G ratio of 1.48 and a beta of 1.32. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.66 and a quick ratio of 0.49. The stock’s 50-day moving average is $216.28 and its 200-day moving average is $255.90. Lithia Motors, Inc. has a one year low of $180.00 and a one year high of $349.61.

Lithia Motors (NYSE:LADGet Rating) last released its quarterly earnings results on Wednesday, October 19th. The company reported $11.08 EPS for the quarter, missing analysts’ consensus estimates of $11.90 by ($0.82). The business had revenue of $7.30 billion for the quarter, compared to analyst estimates of $7.34 billion. Lithia Motors had a return on equity of 28.20% and a net margin of 4.70%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the business earned $11.21 EPS. Sell-side analysts anticipate that Lithia Motors, Inc. will post 45.7 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Friday, November 11th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Wednesday, November 9th. Lithia Motors’s dividend payout ratio is currently 3.76%.

Lithia Motors 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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