7,940 Shares in Lithia Motors, Inc. $LAD Bought by OP Asset Management Ltd

OP Asset Management Ltd bought a new position in shares of Lithia Motors, Inc. (NYSE:LAD) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 7,940 shares of the company’s stock, valued at approximately $1,983,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LAD. Dimensional Fund Advisors LP grew its holdings in shares of Lithia Motors by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,346,783 shares of the company’s stock worth $447,583,000 after buying an additional 6,113 shares in the last quarter. River Road Asset Management LLC lifted its stake in Lithia Motors by 33.6% in the 4th quarter. River Road Asset Management LLC now owns 742,677 shares of the company’s stock valued at $246,814,000 after acquiring an additional 186,628 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Lithia Motors by 5.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 612,377 shares of the company’s stock worth $206,873,000 after acquiring an additional 33,966 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Lithia Motors by 3.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 426,120 shares of the company’s stock worth $134,654,000 after acquiring an additional 14,781 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Lithia Motors during the 4th quarter worth approximately $125,214,000.

Lithia Motors Trading Down 0.0%

NYSE LAD opened at $291.99 on Monday. Lithia Motors, Inc. has a 12 month low of $239.78 and a 12 month high of $360.55. The company has a current ratio of 0.99, a quick ratio of 0.24 and a debt-to-equity ratio of 1.41. The stock has a 50 day moving average of $287.58 and a 200-day moving average of $297.19. The company has a market cap of $6.66 billion, a PE ratio of 10.25, a PEG ratio of 0.64 and a beta of 1.26.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, April 29th. The company reported $7.34 earnings per share for the quarter, topping analysts’ consensus estimates of $7.06 by $0.28. Lithia Motors had a net margin of 1.88% and a return on equity of 12.49%. The business had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the company earned $7.66 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Lithia Motors, Inc. will post 34.37 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were paid a dividend of $0.57 per share. The ex-dividend date was Friday, May 8th. This represents a $2.28 annualized dividend and a dividend yield of 0.8%. This is a boost from Lithia Motors’s previous quarterly dividend of $0.55. Lithia Motors’s dividend payout ratio (DPR) is presently 8.01%.

Lithia Motors declared that its Board of Directors has approved a stock buyback program on Tuesday, May 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Bank of America cut their price objective on shares of Lithia Motors from $335.00 to $320.00 in a research report on Monday, April 13th. Barclays decreased their target price on shares of Lithia Motors from $380.00 to $370.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings cut shares of Lithia Motors from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Wall Street Zen cut Lithia Motors from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Wells Fargo & Company lifted their target price on Lithia Motors from $293.00 to $305.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.11.

Insider Transactions at Lithia Motors

In related news, Director Shauna Mcintyre sold 165 shares of Lithia Motors stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $305.64, for a total transaction of $50,430.60. Following the completion of the transaction, the director owned 1,681 shares in the company, valued at approximately $513,780.84. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard J. Bailey, Jr. sold 297 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $280.57, for a total value of $83,329.29. Following the transaction, the director directly owned 760 shares in the company, valued at approximately $213,233.20. This trade represents a 28.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 782 shares of company stock worth $229,572. 1.08% of the stock is owned by insiders.

About Lithia Motors

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.