Elevation Point Wealth Partners LLC Purchases 79 Shares of Lithia Motors, Inc. (NYSE:LAD)

Elevation Point Wealth Partners LLC lifted its position in Lithia Motors, Inc. (NYSE:LADFree Report) by 5.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,513 shares of the company’s stock after acquiring an additional 79 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Lithia Motors were worth $444,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new stake in shares of Lithia Motors in the first quarter valued at about $36,762,000. SG Americas Securities LLC raised its holdings in shares of Lithia Motors by 404.0% in the first quarter. SG Americas Securities LLC now owns 5,171 shares of the company’s stock valued at $1,518,000 after acquiring an additional 4,145 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Lithia Motors by 50.9% in the first quarter. GAMMA Investing LLC now owns 252 shares of the company’s stock valued at $74,000 after acquiring an additional 85 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Lithia Motors by 86.6% in the first quarter. Harbor Capital Advisors Inc. now owns 12,053 shares of the company’s stock valued at $3,538,000 after acquiring an additional 5,592 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Lithia Motors by 63.7% in the first quarter. UMB Bank n.a. now owns 203 shares of the company’s stock valued at $60,000 after acquiring an additional 79 shares in the last quarter.

Insider Activity

In other Lithia Motors news, Director Shauna Mcintyre sold 337 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $295.94, for a total value of $99,731.78. Following the transaction, the director now owns 1,632 shares in the company, valued at approximately $482,974.08. This trade represents a 17.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Benchmark reiterated a “buy” rating and issued a $400.00 target price 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 note on Thursday, March 27th. Citigroup upgraded Lithia Motors from a “neutral” rating to a “buy” rating and cut their target price for the company from $415.00 to $375.00 in a research note on Wednesday, April 23rd. The Goldman Sachs Group assumed coverage on Lithia Motors in a research note on Tuesday, June 3rd. They issued a “neutral” rating and a $340.00 target price on the stock. Finally, Evercore ISI lifted their target price on Lithia Motors from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $362.40.

Check Out Our Latest Research Report on Lithia Motors

Lithia Motors Price Performance

Shares of NYSE:LAD opened at $323.45 on Monday. Lithia Motors, Inc. has a twelve month low of $243.04 and a twelve month high of $405.68. The company’s 50 day moving average is $306.09 and its 200 day moving average is $331.68. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.22. The company has a market cap of $8.42 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 4.65 and a beta of 1.47.

Lithia Motors (NYSE:LADGet Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $7.66 EPS for the quarter, missing the consensus estimate of $7.77 by ($0.11). Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the prior year, the company posted $6.11 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts forecast that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.55 per share. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, May 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.68%. Lithia Motors’s dividend payout ratio (DPR) is 6.93%.

About Lithia Motors

(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.

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

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