Lithia Motors, Inc. (NYSE:LAD) Sees Large Drop in Short Interest

Lithia Motors, Inc. (NYSE:LAD) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 1,980,000 shares, a decrease of 14.7% from the December 15th total of 2,320,000 shares. Based on an average trading volume of 278,000 shares, the days-to-cover ratio is presently 7.1 days. Approximately 7.6% of the company’s shares are short sold.

Lithia Motors Stock Performance

Shares of LAD stock traded down $6.76 during trading on Friday, hitting $351.33. The company’s stock had a trading volume of 301,973 shares, compared to its average volume of 292,261. The company has a current ratio of 1.18, a quick ratio of 0.27 and a debt-to-equity ratio of 1.23. The company has a market cap of $9.36 billion, a PE ratio of 11.99, a P/E/G ratio of 4.77 and a beta of 1.67. The business has a fifty day moving average of $368.96 and a 200-day moving average of $318.73. Lithia Motors has a 52 week low of $243.00 and a 52 week high of $405.67.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $8.21 earnings per share for the quarter, beating the consensus estimate of $7.60 by $0.61. The business had revenue of $9.22 billion during the quarter, compared to analyst estimates of $9.46 billion. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. Lithia Motors’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $9.25 earnings per share. As a group, research analysts anticipate that Lithia Motors will post 29.42 earnings per share for the current year.

Lithia Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.60%. The ex-dividend date was Friday, November 8th. Lithia Motors’s dividend payout ratio (DPR) is presently 7.24%.

Analyst Ratings Changes

A number of brokerages recently issued reports on LAD. Morgan Stanley upgraded Lithia Motors from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $225.00 to $310.00 in a report on Wednesday, September 25th. Stephens raised their price objective on shares of Lithia Motors from $360.00 to $405.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Guggenheim lifted their price objective on shares of Lithia Motors from $380.00 to $418.00 and gave the company a “buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. lowered their target price on shares of Lithia Motors from $405.00 to $400.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Citigroup raised their price target on shares of Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Lithia Motors has an average rating of “Moderate Buy” and a consensus target price of $361.27.

Insider Buying and Selling at Lithia Motors

In other news, CFO Tina Miller sold 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $392.72, for a total transaction of $392,720.00. Following the transaction, the chief financial officer now owns 10,403 shares of the company’s stock, valued at $4,085,466.16. This represents a 8.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Bryan B. Deboer sold 15,846 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $386.72, for a total value of $6,127,965.12. Following the completion of the sale, the chief executive officer now owns 207,924 shares of the company’s stock, valued at approximately $80,408,369.28. This represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,290 shares of company stock valued at $17,959,596. 1.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lithia Motors

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in 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 acquiring an additional 39 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Lithia Motors by 1.3% during the second quarter. Cetera Investment Advisers now owns 3,862 shares of the company’s stock worth $975,000 after purchasing an additional 48 shares in the last quarter. Signaturefd LLC increased its position in shares of Lithia Motors by 23.9% in the third quarter. Signaturefd LLC now owns 249 shares of the company’s stock worth $79,000 after purchasing an additional 48 shares during the last quarter. M&T Bank Corp raised its stake in Lithia Motors by 2.6% in the third quarter. M&T Bank Corp now owns 1,911 shares of the company’s stock valued at $607,000 after purchasing an additional 49 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Lithia Motors by 69.9% during the fourth quarter. UMB Bank n.a. now owns 124 shares of the company’s stock valued at $44,000 after purchasing an additional 51 shares during the last quarter.

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.