Victory Capital Management Inc. Sells 91 Shares of Lithia Motors, Inc. (NYSE:LAD)

Victory Capital Management Inc. cut its position in Lithia Motors, Inc. (NYSE:LAD) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,405 shares of the company’s stock after selling 91 shares during the period. Victory Capital Management Inc.’s holdings in Lithia Motors were worth $1,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of LAD. JPMorgan Chase & Co. raised its holdings in Lithia Motors by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 259,916 shares of the company’s stock valued at $82,560,000 after acquiring an additional 37,677 shares during the period. Charles Schwab Investment Management Inc. raised its position in Lithia Motors by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 208,253 shares of the company’s stock valued at $74,436,000 after purchasing an additional 2,108 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Lithia Motors by 497.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,676 shares of the company’s stock valued at $1,314,000 after purchasing an additional 3,061 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of Lithia Motors in the 3rd quarter worth approximately $731,000. Finally, Nisa Investment Advisors LLC boosted its stake in Lithia Motors by 1,073.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,770 shares of the company’s stock worth $990,000 after buying an additional 2,534 shares during the period.

Lithia Motors Trading Up 2.6 %

LAD opened at $303.11 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.22. The stock’s fifty day moving average is $348.41 and its two-hundred day moving average is $341.82. The company has a market capitalization of $7.97 billion, a P/E ratio of 10.21, a PEG ratio of 4.65 and a beta of 1.69. Lithia Motors, Inc. has a 52 week low of $243.00 and a 52 week high of $405.68.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $7.79 EPS for the quarter, beating the consensus estimate of $7.33 by $0.46. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. Analysts forecast that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Friday, March 7th. Lithia Motors’s dividend payout ratio (DPR) is 7.14%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Lithia Motors from $346.00 to $397.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on shares of Lithia Motors from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Benchmark reaffirmed a “buy” rating and set a $400.00 target price on shares of Lithia Motors in a research note on Thursday, February 20th. Evercore ISI increased their price target on Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, StockNews.com upgraded Lithia Motors from a “sell” rating to a “hold” rating in a report on Tuesday, January 14th. Five 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, Lithia Motors currently has a consensus rating of “Moderate Buy” and an average target price of $371.36.

Insiders Place Their Bets

In related news, insider Gary M. Glandon sold 325 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $387.86, for a total transaction of $126,054.50. Following the completion of the sale, the insider now owns 1,665 shares of the company’s stock, valued at $645,786.90. This represents a 16.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Congdon Stacy Loretz sold 270 shares of Lithia Motors stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $298.80, for a total transaction of $80,676.00. Following the completion of the transaction, the director now directly owns 1,213 shares in the company, valued at $362,444.40. This represents a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,246 shares of company stock worth $433,724 over the last 90 days. Company insiders own 1.79% of the company’s stock.

Lithia Motors Company 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.