Top 5 Losers Today

4. Lithia Motors, Inc. (NYSE:LAD)

Number of Hedge Fund Holders: 40

Shares of Lithia Motors, Inc. (NYSE:LAD) plunged to a new low on Wednesday after posting weak financial results for the third quarter. The Oregon-based automotive dealership group earned $11.08 per share on an adjusted basis, slightly down from $11.21 per share in the year-ago period.

In addition, Lithia Motors, Inc. (NYSE:LAD) posted revenue of $7.29 billion, representing a surge of 18.2 percent over the same period of 2021. The results missed the consensus of $12.11 per share for earnings and $7.46 billion for revenue.

Among other key updates, Lithia Motors, Inc. (NYSE:LAD) reported that it repurchased about 2.3 shares of its common stock at an average price of around $281 this year.