Pinebridge Investments L.P. Acquires 2,580 Shares of Lithia Motors, Inc. (NYSE:LAD)

Pinebridge Investments L.P. raised its stake in shares of Lithia Motors, Inc. (NYSE:LAD) by 42.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,625 shares of the company’s stock after acquiring an additional 2,580 shares during the quarter. Pinebridge Investments L.P.’s holdings in Lithia Motors were worth $3,083,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Atlas Capital Advisors Inc. acquired a new stake in Lithia Motors in the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. purchased a new position in Lithia Motors during the 4th quarter worth $35,000. UMB Bank n.a. increased its position in Lithia Motors by 69.9% during the 4th quarter. UMB Bank n.a. now owns 124 shares of the company’s stock valued at $44,000 after buying an additional 51 shares in the last quarter. V Square Quantitative Management LLC raised its stake in Lithia Motors by 33.9% in the fourth quarter. V Square Quantitative Management LLC now owns 146 shares of the company’s stock valued at $52,000 after buying an additional 37 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its holdings in Lithia Motors by 1,420.0% in the fourth quarter. Rakuten Securities Inc. now owns 152 shares of the company’s stock worth $54,000 after acquiring an additional 142 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts recently commented on LAD shares. Citigroup raised shares of Lithia Motors from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $415.00 to $375.00 in a research report on Wednesday. Benchmark reiterated a “buy” rating and set a $400.00 price objective on shares of Lithia Motors in a research note on Thursday, February 20th. JPMorgan Chase & Co. cut their target price on Lithia Motors from $420.00 to $360.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Evercore ISI lifted their price target on Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, Guggenheim cut their price objective on Lithia Motors from $417.00 to $356.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lithia Motors currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.20.

Lithia Motors Stock Performance

NYSE LAD opened at $292.54 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.28. Lithia Motors, Inc. has a 1-year low of $243.04 and a 1-year high of $405.68. The company has a market cap of $7.69 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 4.65 and a beta of 1.61. The stock’s 50 day simple moving average is $305.08 and its 200-day simple moving average is $340.75.

Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, April 23rd. The company reported $7.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.77 by ($0.11). The business had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. As a group, equities research analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.75%. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, May 9th. Lithia Motors’s dividend payout ratio (DPR) is 6.93%.

Insider Activity

In other Lithia Motors news, Director Shauna Mcintyre sold 248 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $290.84, for a total value of $72,128.32. Following the completion of the sale, the director now directly owns 1,297 shares in the company, valued at $377,219.48. This represents a 16.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary M. Glandon sold 325 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $387.86, for a total value of $126,054.50. Following the completion of the sale, the insider now directly owns 1,665 shares of the company’s stock, valued at $645,786.90. This trade represents a 16.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,246 shares of company stock worth $433,724 over the last ninety days. Corporate insiders own 0.87% of the company’s stock.

About Lithia Motors

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.