New York Life Investment Management LLC Sells 332 Shares of Lithia Motors, Inc. (NYSE:LAD)

New York Life Investment Management LLC cut its stake in Lithia Motors, Inc. (NYSE:LAD) by 10.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,787 shares of the company’s stock after selling 332 shares during the quarter. New York Life Investment Management LLC’s holdings in Lithia Motors were worth $996,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in Lithia Motors by 69.9% in the 4th quarter. UMB Bank n.a. now owns 124 shares of the company’s stock worth $44,000 after purchasing an additional 51 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of Lithia Motors by 33.9% in the 4th quarter. V Square Quantitative Management LLC now owns 146 shares of the company’s stock worth $52,000 after buying an additional 37 shares during the period. GAMMA Investing LLC grew its position in shares of Lithia Motors by 30.5% in the 4th quarter. GAMMA Investing LLC now owns 167 shares of the company’s stock worth $60,000 after buying an additional 39 shares during the period. Blue Trust Inc. grew its position in shares of Lithia Motors by 48.5% in the 4th quarter. Blue Trust Inc. now owns 297 shares of the company’s stock worth $106,000 after buying an additional 97 shares during the period. Finally, Atomi Financial Group Inc. purchased a new stake in shares of Lithia Motors in the 4th quarter worth about $202,000.

Insider Activity

In other 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 value of $126,054.50. Following the transaction, the insider now owns 1,665 shares in the company, valued at $645,786.90. This represents a 16.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Adam Chamberlain sold 403 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $384.28, for a total transaction of $154,864.84. Following the completion of the transaction, the chief operating officer now owns 2,605 shares in the company, valued at $1,001,049.40. This trade represents a 13.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.79% of the company’s stock.

Lithia Motors Stock Performance

Shares of LAD stock opened at $324.51 on Tuesday. Lithia Motors, Inc. has a one year low of $243.00 and a one year high of $405.67. The company’s 50-day moving average is $360.08 and its 200 day moving average is $340.96. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 4.65 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.28 and a current ratio of 1.19.

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

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Friday, March 7th. Lithia Motors’s payout ratio is presently 7.14%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $400.00 target price on shares of Lithia Motors in a research report on Thursday, February 20th. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on shares of Lithia Motors from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Wells Fargo & Company upped their target price on shares of Lithia Motors from $346.00 to $397.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. Finally, Evercore ISI upped their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Lithia Motors currently has an average rating of “Moderate Buy” and a consensus target price of $371.36.

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.