Westfield Capital Management Co. LP decreased its holdings in Lithia Motors, Inc. (NYSE:LAD) by 47.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,601 shares of the company’s stock after selling 85,157 shares during the period. Westfield Capital Management Co. LP owned 0.39% of Lithia Motors worth $8,726,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. DF Dent & Co. Inc. lifted its holdings in shares of Lithia Motors by 0.3% in the 1st quarter. DF Dent & Co. Inc. now owns 4,091 shares of the company’s stock valued at $350,000 after acquiring an additional 11 shares during the last quarter. Texas Permanent School Fund lifted its holdings in shares of Lithia Motors by 0.3% in the 2nd quarter. Texas Permanent School Fund now owns 17,359 shares of the company’s stock valued at $1,636,000 after acquiring an additional 47 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Lithia Motors by 0.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,096 shares of the company’s stock valued at $1,234,000 after acquiring an additional 75 shares during the last quarter. Symphony Asset Management LLC lifted its holdings in shares of Lithia Motors by 1.2% in the 2nd quarter. Symphony Asset Management LLC now owns 6,692 shares of the company’s stock valued at $631,000 after acquiring an additional 78 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Lithia Motors by 2.9% in the 2nd quarter. Amalgamated Bank now owns 3,228 shares of the company’s stock valued at $304,000 after acquiring an additional 91 shares during the last quarter. 98.47% of the stock is owned by hedge funds and other institutional investors.

Shares of Lithia Motors, Inc. (NYSE LAD) opened at 112.69 on Wednesday. The firm has a 50-day moving average of $105.78 and a 200 day moving average of $95.31. Lithia Motors, Inc. has a 52 week low of $75.85 and a 52 week high of $114.58. The company has a market cap of $2.82 billion, a P/E ratio of 13.58 and a beta of 1.73.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Friday, July 28th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.05. Lithia Motors had a net margin of 2.26% and a return on equity of 21.66%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the prior year, the company posted $1.96 EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. Equities analysts expect that Lithia Motors, Inc. will post $8.62 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were paid a $0.27 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.08 annualized dividend and a dividend yield of 0.96%. Lithia Motors’s dividend payout ratio (DPR) is 13.01%.

Several brokerages have issued reports on LAD. Seaport Global Securities began coverage on shares of Lithia Motors in a research note on Wednesday, June 14th. They issued a “neutral” rating for the company. BidaskClub raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Bank of America Corporation downgraded shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price objective for the company. in a research note on Friday, June 16th. Zacks Investment Research raised shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 price objective for the company in a research note on Wednesday, August 23rd. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $115.00 price objective on shares of Lithia Motors in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $112.00.

In other news, Director Thomas R. Becker sold 1,031 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $107.10, for a total value of $110,420.10. Following the completion of the sale, the director now owns 65,704 shares of the company’s stock, valued at approximately $7,036,898.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan O. Cain sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $105.64, for a total transaction of $105,640.00. Following the completion of the sale, the director now directly owns 12,242 shares of the company’s stock, valued at approximately $1,293,244.88. The disclosure for this sale can be found here. In the last three months, insiders sold 219,870 shares of company stock valued at $22,252,261. Corporate insiders own 7.85% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Westfield Capital Management Co. LP Has $8.73 Million Position in Lithia Motors, Inc. (LAD)” was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://www.watchlistnews.com/westfield-capital-management-co-lp-has-8-73-million-position-in-lithia-motors-inc-lad/1575917.html.

Lithia Motors Company Profile

Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.

Want to see what other hedge funds are holding LAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lithia Motors, Inc. (NYSE:LAD).

Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

Receive News & Ratings for Lithia Motors Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithia Motors Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.