BNP Paribas Financial Markets Sells 18,056 Shares of Lithia Motors, Inc. (NYSE:LAD) (2024)

Posted by ABMN Staff on May 24th, 2024

BNP Paribas Financial Markets lowered its holdings in Lithia Motors, Inc. (NYSE:LAD – Free Report) by 68.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,218 shares of the company’s stock after selling 18,056 shares during the quarter. BNP Paribas Financial Markets’ holdings in Lithia Motors were worth $2,706,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LAD. Allspring Global Investments Holdings LLC bought a new stake in shares of Lithia Motors in the 3rd quarter valued at about $32,000. Denali Advisors LLC grew its position in shares of Lithia Motors by 5,050.0% in the 4th quarter. Denali Advisors LLC now owns 103 shares of the company’s stock worth $34,000 after buying an additional 101 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Lithia Motors in the 4th quarter worth approximately $49,000. Fifth Third Bancorp grew its position in shares of Lithia Motors by 32.0% in the 3rd quarter. Fifth Third Bancorp now owns 231 shares of the company’s stock worth $68,000 after buying an additional 56 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Lithia Motors by 52.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 380 shares of the company’s stock worth $112,000 after buying an additional 130 shares during the last quarter.

Insider Activity

In related news, Director Shauna Mcintyre sold 138 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $254.42, for a total value of $35,109.96. Following the completion of the transaction, the director now directly owns 2,228 shares in the company, valued at approximately $566,847.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LAD shares. Morgan Stanley lifted their price objective on shares of Lithia Motors from $220.00 to $230.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. Guggenheim downgraded shares of Lithia Motors from a “buy” rating to a “neutral” rating in a research report on Friday, May 17th. Citigroup dropped their target price on shares of Lithia Motors from $320.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. dropped their target price on shares of Lithia Motors from $285.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Finally, Bank of America boosted their target price on shares of Lithia Motors from $380.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lithia Motors has a consensus rating of “Hold” and a consensus price target of $318.55.

Read Our Latest Analysis on LAD

Lithia Motors Stock Down 1.9 %

LAD stock opened at $254.39 on Friday. The firm’s fifty day simple moving average is $272.30 and its 200-day simple moving average is $284.29. The company has a market capitalization of $6.97 billion, a P/E ratio of 7.51, a price-to-earnings-growth ratio of 3.09 and a beta of 1.59. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.17 and a quick ratio of 0.28. Lithia Motors, Inc. has a 12 month low of $229.71 and a 12 month high of $331.96.

Lithia Motors (NYSE:LAD – Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing the consensus estimate of $7.85 by ($1.74). The business had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $8.58 billion. Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The firm’s revenue was up 22.7% on a year-over-year basis. During the same period last year, the company earned $8.44 earnings per share. As a group, equities research analysts forecast that Lithia Motors, Inc. will post 28.78 earnings per share for the current year.

Lithia Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be issued a $0.53 dividend. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, May 9th. Lithia Motors’s dividend payout ratio is 6.26%.

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.

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