Lithia Motors, Inc. (NYSE:LAD) Short Interest Down 6.3% in June

Lithia Motors, Inc. (NYSE:LAD) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 2,540,000 shares, a drop of 6.3% from the June 15th total of 2,710,000 shares. Based on an average trading volume of 278,800 shares, the days-to-cover ratio is currently 9.1 days.

Lithia Motors Stock Down 2.3 %

Shares of Lithia Motors stock traded down $6.45 during trading on Wednesday, reaching $269.42. The company’s stock had a trading volume of 270,759 shares, compared to its average volume of 239,705. The company has a 50-day simple moving average of $257.66 and a two-hundred day simple moving average of $276.75. Lithia Motors has a 1-year low of $231.36 and a 1-year high of $331.96. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 8.15, a P/E/G ratio of 3.09 and a beta of 1.63. The company has a quick ratio of 0.28, a current ratio of 1.17 and a debt-to-equity ratio of 1.17.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.85 by ($1.74). The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.58 billion. Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The business’s revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the company earned $8.44 EPS. As a group, equities analysts forecast that Lithia Motors will post 28.79 earnings per share for the current year.

Lithia Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.12 dividend on an annualized basis and a yield of 0.79%. This is a boost from Lithia Motors’s previous quarterly dividend of $0.50. Lithia Motors’s payout ratio is currently 6.26%.

Analysts Set New Price Targets

Several research analysts recently commented 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. Craig Hallum reduced their target price on shares of Lithia Motors from $350.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company lowered their price target on Lithia Motors from $290.00 to $248.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Citigroup dropped their price objective on Lithia Motors from $320.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, Bank of America lifted their target price on Lithia Motors from $380.00 to $385.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $319.45.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 138 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total transaction of $35,109.96. Following the transaction, the director now owns 2,228 shares of the company’s stock, valued at $566,847.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Denali Advisors LLC lifted its position in Lithia Motors by 5,050.0% during the fourth quarter. Denali Advisors LLC now owns 103 shares of the company’s stock valued at $34,000 after purchasing an additional 101 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Lithia Motors in the fourth quarter worth about $49,000. Rise Advisors LLC grew its holdings in Lithia Motors by 80.2% during the first quarter. Rise Advisors LLC now owns 191 shares of the company’s stock worth $57,000 after acquiring an additional 85 shares during the period. Kapitalo Investimentos Ltda purchased a new position in Lithia Motors during the fourth quarter valued at approximately $67,000. Finally, Mather Group LLC. acquired a new position in Lithia Motors in the first quarter valued at approximately $114,000.

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.