Atomi Financial Group Inc. Acquires New Holdings in Lithia Motors, Inc. (NYSE:LAD)

Atomi Financial Group Inc. bought a new position in Lithia Motors, Inc. (NYSE:LADFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 566 shares of the company’s stock, valued at approximately $202,000.

Other hedge funds have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC purchased a new position in shares of Lithia Motors in the 4th quarter worth $46,505,000. Verition Fund Management LLC lifted its holdings in Lithia Motors by 1,960.2% in the third quarter. Verition Fund Management LLC now owns 126,909 shares of the company’s stock valued at $40,311,000 after acquiring an additional 120,749 shares during the period. HITE Hedge Asset Management LLC boosted its position in Lithia Motors by 5,233.4% in the third quarter. HITE Hedge Asset Management LLC now owns 107,629 shares of the company’s stock worth $34,187,000 after purchasing an additional 105,611 shares during the last quarter. FMR LLC increased its position in shares of Lithia Motors by 12.8% during the 3rd quarter. FMR LLC now owns 753,067 shares of the company’s stock valued at $239,204,000 after purchasing an additional 85,579 shares during the last quarter. Finally, Natixis Advisors LLC bought a new position in shares of Lithia Motors in the 3rd quarter worth approximately $26,071,000.

Analyst Ratings Changes

Several brokerages recently issued reports on LAD. JPMorgan Chase & Co. cut their target price on shares of Lithia Motors from $405.00 to $400.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Stephens boosted their price objective on shares of Lithia Motors from $360.00 to $405.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Wells Fargo & Company lifted their target price on Lithia Motors from $343.00 to $346.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Guggenheim boosted their price target on Lithia Motors from $380.00 to $418.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Benchmark assumed coverage on Lithia Motors in a research report on Wednesday, January 8th. They set a “buy” rating and a $400.00 price objective on the stock. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $357.40.

Read Our Latest Report on Lithia Motors

Lithia Motors Stock Up 3.0 %

Shares of LAD opened at $356.06 on Tuesday. Lithia Motors, Inc. has a 12-month low of $243.00 and a 12-month high of $405.67. The company has a current ratio of 1.18, a quick ratio of 0.27 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $9.49 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 4.83 and a beta of 1.67. The business’s 50 day moving average is $365.58 and its 200 day moving average is $324.63.

Insider Activity

In related news, CEO Bryan B. Deboer sold 15,846 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $386.72, for a total transaction of $6,127,965.12. Following the completion of the transaction, the chief executive officer now directly owns 207,924 shares of the company’s stock, valued at approximately $80,408,369.28. This represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary M. Glandon sold 242 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $382.86, for a total value of $92,652.12. Following the transaction, the insider now owns 1,729 shares of the company’s stock, valued at $661,964.94. This represents a 12.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,770 shares of company stock worth $15,103,607 over the last quarter. Insiders own 1.79% of the company’s stock.

Lithia Motors Profile

(Free Report)

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.

See Also

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

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