Envestnet Asset Management Inc. Sells 12,372 Shares of Lithia Motors, Inc. (NYSE:LAD)

Envestnet Asset Management Inc. lessened its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 25.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,532 shares of the company’s stock after selling 12,372 shares during the period. Envestnet Asset Management Inc. owned 0.13% of Lithia Motors worth $9,223,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its position in shares of 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 purchasing an additional 61 shares during the last quarter. Rise Advisors LLC increased its position in shares of Lithia Motors by 80.2% during the first quarter. Rise Advisors LLC now owns 191 shares of the company’s stock valued at $57,000 after acquiring an additional 85 shares in the last quarter. McClarren Financial Advisors Inc. lifted 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 in the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Lithia Motors in the 4th quarter worth $67,000. Finally, Mather Group LLC. bought a new position in shares of Lithia Motors during the first quarter valued at $114,000.

Lithia Motors Stock Performance

Shares of NYSE:LAD opened at $320.83 on Friday. The firm has a fifty day simple moving average of $284.70 and a two-hundred day simple moving average of $272.12. Lithia Motors, Inc. has a 52 week low of $231.36 and a 52 week high of $331.96. The company has a quick ratio of 0.30, a current ratio of 1.19 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $8.79 billion, a P/E ratio of 9.47, a PEG ratio of 0.30 and a beta of 1.64.

Lithia Motors (NYSE:LAD) last released its quarterly earnings results on Thursday, August 1st. The company reported $7.87 EPS for the quarter, topping the consensus estimate of $7.09 by $0.78. The company had revenue of $9.23 billion during the quarter, compared to analyst estimates of $9.29 billion. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $10.91 earnings per share. On average, analysts expect that Lithia Motors, Inc. will post 28.78 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Friday, August 9th. Lithia Motors’s payout ratio is 6.26%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Stephens began coverage on shares of Lithia Motors in a report on Thursday, September 12th. They set an “overweight” rating and a $360.00 price target on the stock. Guggenheim upgraded Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 price target on the stock in a research note on Friday, August 9th. StockNews.com downgraded Lithia Motors from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Bank of America boosted their price target on Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, The Goldman Sachs Group raised their price objective on shares of Lithia Motors from $300.00 to $335.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $338.00.

Insiders Place Their Bets

In related news, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the completion of the transaction, the director now directly owns 46,129 shares of the company’s stock, valued at approximately $13,417,080.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the completion of the sale, the director now directly owns 46,129 shares in the company, valued at $13,417,080.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sidney B. Deboer sold 10,777 shares of Lithia Motors stock in a transaction on Friday, September 13th. The shares were sold at an average price of $275.93, for a total value of $2,973,697.61. Following the sale, the director now directly owns 35,352 shares of the company’s stock, valued at $9,754,677.36. The disclosure for this sale can be found here. Insiders sold 23,021 shares of company stock valued at $6,534,617 over the last three months. 1.79% of the stock is owned by company insiders.

Lithia Motors Profile

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.