Lithia Motors, Inc. $LAD Shares Sold by Lyrical Asset Management LP

Lyrical Asset Management LP trimmed its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 5.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 475,742 shares of the company’s stock after selling 28,674 shares during the period. Lithia Motors makes up 2.2% of Lyrical Asset Management LP’s holdings, making the stock its 22nd biggest holding. Lyrical Asset Management LP’s holdings in Lithia Motors were worth $158,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Abrams Capital Management L.P. raised its position in shares of Lithia Motors by 1.9% during the 3rd quarter. Abrams Capital Management L.P. now owns 2,490,534 shares of the company’s stock worth $787,009,000 after acquiring an additional 45,856 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Lithia Motors by 1.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,340,670 shares of the company’s stock valued at $423,662,000 after purchasing an additional 14,015 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Lithia Motors by 5.9% in the second quarter. Canada Pension Plan Investment Board now owns 612,377 shares of the company’s stock valued at $206,873,000 after purchasing an additional 33,966 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Lithia Motors by 3.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 426,120 shares of the company’s stock valued at $134,654,000 after purchasing an additional 14,781 shares during the last quarter. Finally, Norges Bank acquired a new stake in Lithia Motors during the fourth quarter worth approximately $125,214,000.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LAD shares. Bank of America lowered their target price on shares of Lithia Motors from $335.00 to $320.00 in a report on Monday, April 13th. Barclays reduced their price target 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. UBS Group assumed coverage on Lithia Motors in a report on Wednesday, May 27th. They set a “buy” rating and a $348.00 price objective on the stock. Wall Street Zen upgraded Lithia Motors from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, Weiss Ratings downgraded Lithia Motors from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Lithia Motors has an average rating of “Moderate Buy” and an average price target of $368.11.

Lithia Motors Stock Up 0.0%

LAD stock opened at $288.89 on Monday. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 0.64 and a beta of 1.26. The company has a fifty day moving average price of $275.60 and a 200 day moving average price of $298.51. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.24. Lithia Motors, Inc. has a 12 month low of $239.78 and a 12 month high of $360.55.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $7.34 EPS for the quarter, beating 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 company had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the business posted $7.66 earnings per share. Lithia Motors’s quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts expect that Lithia Motors, Inc. will post 34.37 earnings per share for the current year.

Lithia Motors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a $0.57 dividend. This is a boost from Lithia Motors’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, May 8th. This represents a $2.28 annualized dividend and a yield of 0.8%. Lithia Motors’s payout ratio is presently 8.01%.

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

Insider Activity at Lithia Motors

In other news, 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 owned 760 shares of the company’s stock, valued at approximately $213,233.20. The trade was a 28.10% 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 Shauna Mcintyre sold 245 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $294.64, for a total value of $72,186.80. Following the sale, the director owned 1,846 shares of the company’s stock, valued at $543,905.44. This trade represents a 11.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 617 shares of company stock valued at $174,966. 1.08% of the stock is owned by company insiders.

Lithia Motors 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.