Man Group plc Takes $3.25 Million Position in Lithia Motors, Inc. $LAD

Man Group plc acquired a new position in Lithia Motors, Inc. (NYSE:LAD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,206 shares of the company’s stock, valued at approximately $3,255,000. Man Group plc owned about 0.05% of Lithia Motors as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Miller Value Partners LLC bought a new stake in shares of Lithia Motors in the 2nd quarter valued at $788,000. Jupiter Topco LLC acquired a new position in shares of Lithia Motors in the 2nd quarter valued at about $2,861,000. Hsbc Holdings PLC acquired a new position in shares of Lithia Motors in the 2nd quarter valued at about $17,219,000. PDT Partners LLC bought a new stake in shares of Lithia Motors during the 2nd quarter valued at about $407,000. Finally, Legal & General Group Plc acquired a new stake in Lithia Motors during the second quarter worth approximately $10,722,000.

Lithia Motors Stock Performance

Shares of Lithia Motors stock opened at $366.72 on Tuesday. The business has a 50 day moving average price of $345.73 and a 200-day moving average price of $301.93. Lithia Motors, Inc. has a 52 week low of $239.78 and a 52 week high of $439.49. The company has a market cap of $8.06 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22. The company has a quick ratio of 0.21, a current ratio of 1.00 and a debt-to-equity ratio of 1.46.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $10.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.73 by $1.30. Lithia Motors had a net margin of 1.88% and a return on equity of 12.16%. The firm had revenue of $9.79 billion for the quarter, compared to the consensus estimate of $9.64 billion. During the same period in the previous year, the firm earned $10.24 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts anticipate that Lithia Motors, Inc. will post 36 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were paid a $0.70 dividend. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, August 7th. This represents a $2.80 annualized dividend and a yield of 0.8%. Lithia Motors’s dividend payout ratio (DPR) is 9.29%.

Lithia Motors announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 7.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LAD shares. Weiss Ratings upgraded Lithia Motors from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. Wells Fargo & Company lifted their price objective on shares of Lithia Motors from $306.00 to $395.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Bank of America boosted their target price on shares of Lithia Motors from $350.00 to $417.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Jefferies Financial Group restated a “buy” rating and issued a $490.00 price target on shares of Lithia Motors in a report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Lithia Motors presently has an average rating of “Moderate Buy” and a consensus target price of $436.33.

Insider Activity at Lithia Motors

In other news, Director Shauna Mcintyre sold 165 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $305.64, for a total value of $50,430.60. Following the transaction, the director owned 1,681 shares in the company, valued at $513,780.84. The trade was a 8.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.08% of the stock is currently owned by corporate insiders.

Lithia Motors Company Profile

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.