Lithia Motors, Inc. (NYSE:LAD) Shares Bought by M&T Bank Corp

M&T Bank Corp increased its position in Lithia Motors, Inc. (NYSE:LAD) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,911 shares of the company’s stock after acquiring an additional 49 shares during the period. M&T Bank Corp’s holdings in Lithia Motors were worth $607,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Lithia Motors in the third quarter valued at approximately $35,000. Blue Trust Inc. grew its holdings in Lithia Motors by 83.6% in the 2nd quarter. Blue Trust Inc. now owns 134 shares of the company’s stock worth $34,000 after buying an additional 61 shares in the last quarter. Signaturefd LLC grew its holdings in Lithia Motors by 23.9% in the 3rd quarter. Signaturefd LLC now owns 249 shares of the company’s stock worth $79,000 after buying an additional 48 shares in the last quarter. McClarren Financial Advisors Inc. increased its position in Lithia Motors by 12,500.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 252 shares of the company’s stock valued at $64,000 after acquiring an additional 250 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Lithia Motors during the 2nd quarter valued at $80,000.

Lithia Motors Stock Performance

Shares of NYSE LAD opened at $370.93 on Wednesday. The stock’s fifty day simple moving average is $355.49 and its 200 day simple moving average is $303.37. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 6.25 and a beta of 1.65. The company has a quick ratio of 0.27, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. Lithia Motors, Inc. has a 52-week low of $243.00 and a 52-week high of $405.67.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share for the quarter, topping analysts’ consensus estimates of $7.60 by $0.61. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The firm had revenue of $9.22 billion for the quarter, compared to analysts’ expectations of $9.46 billion. During the same quarter last year, the business posted $9.25 EPS. Lithia Motors’s revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts forecast that Lithia Motors, Inc. will post 29.42 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a $0.53 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.57%. Lithia Motors’s dividend payout ratio (DPR) is presently 7.24%.

Insider Buying and Selling

In other Lithia Motors news, insider Gary M. Glandon sold 242 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $382.86, for a total transaction of $92,652.12. Following the completion of the sale, the insider now directly owns 1,729 shares in the company, valued at approximately $661,964.94. This trade represents a 12.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Bryan B. Deboer sold 6,742 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $400.00, for a total value of $2,696,800.00. Following the completion of the transaction, the chief executive officer now owns 174,445 shares in the company, valued at $69,778,000. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,290 shares of company stock valued at $17,959,596. Company insiders own 1.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LAD shares. Citigroup increased their price target on Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Stephens increased their target price 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. JPMorgan Chase & Co. boosted their price target on shares of Lithia Motors from $375.00 to $405.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Friday, November 29th. Finally, Wells Fargo & Company boosted their target price on Lithia Motors from $299.00 to $343.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Lithia Motors currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.60.

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.