Hsbc Holdings PLC Purchases 13,626 Shares of Lithia Motors, Inc. (NYSE:LAD) (2024)

Posted by MarketBeat News on Jun 5th, 2024

Hsbc Holdings PLC Purchases 13,626 Shares of Lithia Motors, Inc. (NYSE:LAD) (1)Hsbc Holdings PLC raised its position in shares of Lithia Motors, Inc. (NYSE:LADFree Report) by 989.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,003 shares of the company’s stock after purchasing an additional 13,626 shares during the period. Hsbc Holdings PLC owned 0.05% of Lithia Motors worth $4,946,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Lithia Motors by 0.4% in the third quarter. Vanguard Group Inc. now owns 2,807,407 shares of the company’s stock worth $829,112,000 after acquiring an additional 10,649 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Lithia Motors by 0.3% in the third quarter. Canada Pension Plan Investment Board now owns 678,611 shares of the company’s stock worth $200,414,000 after acquiring an additional 2,200 shares during the period. FMR LLC boosted its holdings in shares of Lithia Motors by 10.3% in the third quarter. FMR LLC now owns 492,273 shares of the company’s stock worth $145,383,000 after acquiring an additional 45,977 shares during the period. Norges Bank bought a new position in shares of Lithia Motors in the fourth quarter worth $123,976,000. Finally, Eventide Asset Management LLC boosted its holdings in shares of Lithia Motors by 1.3% in the third quarter. Eventide Asset Management LLC now owns 247,514 shares of the company’s stock worth $73,098,000 after acquiring an additional 3,234 shares during the period.

Analysts Set New Price Targets

LAD has been the subject of a number of analyst reports. Craig Hallum cut their price target on Lithia Motors from $350.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, April 25th. The Goldman Sachs Group increased their price objective on Lithia Motors from $300.00 to $334.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Stephens reiterated an “overweight” rating and issued a $375.00 price objective on shares of Lithia Motors in a research report on Wednesday, February 14th. JPMorgan Chase & Co. lowered their price objective on Lithia Motors from $285.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Finally, Bank of America increased their price objective on Lithia Motors from $380.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $318.55.

View Our Latest Analysis on Lithia Motors

Lithia Motors Trading Down 1.5 %

NYSE LAD opened at $265.52 on Wednesday. The stock’s 50-day simple moving average is $267.20 and its two-hundred day simple moving average is $284.14. Lithia Motors, Inc. has a twelve month low of $231.36 and a twelve month high of $331.96. The company has a quick ratio of 0.28, a current ratio of 1.17 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 3.14 and a beta of 1.62.

Lithia Motors (NYSE:LADGet Free Report) last released its quarterly earnings results 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). Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $8.58 billion. During the same quarter in the previous year, the business earned $8.44 EPS. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. Research analysts forecast that Lithia Motors, Inc. will post 28.78 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $0.53 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.12 annualized dividend and a dividend yield of 0.80%. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. Lithia Motors’s payout ratio is currently 6.26%.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 138 shares of Lithia Motors stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total value of $35,109.96. Following the transaction, the director now owns 2,228 shares in the company, valued at $566,847.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.79% of the company’s stock.

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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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:LADFree Report).

Hsbc Holdings PLC Purchases 13,626 Shares of Lithia Motors, Inc. (NYSE:LAD) (2)

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Hsbc Holdings PLC Purchases 13,626 Shares of Lithia Motors, Inc. (NYSE:LAD) (2024)

FAQs

Why is Lithia Motors stock dropping? ›

Shares of new and used car dealership Lithia Motors (LAD) fell sharply on Wednesday. Lithia suffered a Q1 earnings miss. LAD stock may also struggle amid broader consumer market challenges.

Should I buy Lithia Motors stock? ›

Lithia Motors has a consensus rating of Moderate Buy which is based on 6 buy ratings, 4 hold ratings and 1 sell ratings.

What is the Lithia Motors employee stock purchase plan? ›

As an eligible Lithia & Driveway employee, you can purchase up to $25,000 worth of stock at market value in any calendar year though the ESPP. This equals $21,250 in payroll deductions, taking the 15% discount into account.

Who owns the most Lithia stock? ›

What type of owners hold Lithia Motors Inc stock?
NameHoldType
Vanguard Group Inc10.25%Institution
Abrams Capital Management LP8.72%Institution
Blackrock Inc8.65%Institution
Abrams Capital Management LP8.12%Insider
6 more rows

What is the Lithia Motors controversy? ›

General Motors Company, Jim Koons Management and Lithia Motors Inc. have agreed to settle separate Federal Trade Commission administrative complaint allegations that each touted how rigorously they inspect their cars, yet failed to disclose that some of the used cars they were selling were subject to unrepaired safety ...

What is the price target for Lithia? ›

The 35 analysts offering price forecasts for Lithia Motors have a median target of 307.54, with a high estimate of 470.00 and a low estimate of 198.00. The median estimate represents a 85.66 difference from the last price of 263.43.

Is Li Motors a buy? ›

Li Auto has a consensus rating of Strong Buy which is based on 10 buy ratings, 2 hold ratings and 0 sell ratings.

What is Lithia Motors known for? ›

Lithia Motors Inc (Lithia) is an automotive retailer. The company provides products and services related to new and used vehicles.

What is the stock price prediction for LAD in 2025? ›

On average, Wall Street analysts predict that Lithia Motors's share price could reach $304.33 by Jun 10, 2025.

Is Lithia Motors a Fortune 500 company? ›

As of 2022 Lithia is ranked #158 on the Fortune 500.

How does Lithia Motors make money? ›

Lithia Motors, Inc. (NYSE:LAD) is a leading automotive retailer in the United States, operating through a network of dealerships offering new and used vehicles, vehicle maintenance, repair services, and automotive financing. The company serves a wide customer base across various states.

How do I cash out my Employee Stock Purchase Plan? ›

How does a withdrawal work in an ESPP? With most employee stock purchase plans, you can withdraw from your plan at any time before the purchase. Withdrawals are made on Fidelity.com or through a representative. However, you should refer to your plan documents to determine your plan's rules governing withdrawals.

Who has the largest stock of lithium in the world? ›

The world's largest lithium-producing mine is Talison Lithium and Albemarle's Greenbushes hard-rock mine in Australia, which put out 37,000 metric tons of lithium in concentrate in 2022. Coming in second place is SQM's Salar de Atacama operations in Chile, with 2022 production of 29,500 metric tons of lithium.

Who is the CEO of Lithia? ›

President/CEO, Lithia Motors Inc.

Who owns the most stock in Coca Cola? ›

Top Shareholders
Holder# of SharesType
Warren Buffett400,000,000Institution
Vanguard327,119,871Institution
Vanguard Index Funds256,614,759Institution
iShares175,443,955Institution
6 more rows

Why is Standard Lithium stock down? ›

The current decline in lithium prices can be primarily attributed to the slowing growth of electric vehicle sales in China. This is coupled with the broader slowdown in the Chinese economy. As demand remains sluggish at previous pricing levels and supply surpasses demand, prices have inevitably fallen.

Why is MDA stock going down? ›

The company, which has rebranded as MDA Space, says its profit amounted to 11 cents per diluted share for the quarter ended March 31, down from a profit of 13 cents per diluted share in the same quarter last year. Revenue for the quarter totalled $209.1 million, up from $201.9 million in the first quarter of 2023.

Why is DM stock dropping? ›

Desktop Metal (DM) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

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