Lithia Motors, Inc. (NYSE:LAD) Shares Acquired by Assetmark Inc. (2024)

Posted by MarketBeat News on May 27th, 2024

Assetmark Inc. increased its holdings in shares of Lithia Motors, Inc. (NYSE:LAD – Free Report) by 35.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,620 shares of the company’s stock after buying an additional 1,198 shares during the period. Assetmark Inc.’s holdings in Lithia Motors were worth $1,521,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Mariner LLC raised its position in shares of Lithia Motors by 4.1% during the 3rd quarter. Mariner LLC now owns 4,401 shares of the company’s stock worth $1,300,000 after purchasing an additional 174 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Lithia Motors by 33.7% during the third quarter. American Century Companies Inc. now owns 35,164 shares of the company’s stock valued at $10,385,000 after acquiring an additional 8,862 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Lithia Motors by 16.8% during the fourth quarter. Amalgamated Bank now owns 20,759 shares of the company’s stock valued at $6,836,000 after acquiring an additional 2,992 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Lithia Motors by 95.6% in the third quarter. Citigroup Inc. now owns 12,649 shares of the company’s stock worth $3,736,000 after acquiring an additional 6,181 shares during the last quarter. Finally, Comerica Bank purchased a new stake in shares of Lithia Motors during the third quarter worth approximately $4,608,000.

Lithia Motors Price Performance

Shares of LAD opened at $256.34 on Monday. The firm has a 50-day simple moving average of $271.78 and a two-hundred day simple moving average of $284.56. The stock has a market cap of $7.03 billion, a PE ratio of 7.57, a P/E/G ratio of 2.99 and a beta of 1.59. Lithia Motors, Inc. has a 1-year low of $229.71 and a 1-year high of $331.96. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.17 and a quick ratio of 0.28.

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

Lithia Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $0.53 dividend. The ex-dividend date was Thursday, May 9th. This is a boost from Lithia Motors’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. Lithia Motors’s payout ratio is presently 6.26%.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 138 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Friday, April 26th. Citigroup lowered their price target 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. cut their price objective on shares of Lithia Motors from $285.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Guggenheim downgraded shares of Lithia Motors from a “buy” rating to a “neutral” rating in a research note on Friday, May 17th. Finally, Craig Hallum dropped their price target on shares of Lithia Motors from $350.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Lithia Motors currently has a consensus rating of “Hold” and a consensus target price of $318.55.

View Our Latest Stock Report on LAD

Lithia Motors Company Profile

(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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