1,137 Shares in Lithia Motors, Inc. $LAD Purchased by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC acquired 1,137 shares of Lithia Motors, Inc. valued at approximately $334,000 in the first quarter, marking its entry into a new stake in the automotive retailer.
• Directors and institutional investors have been actively trading shares, with notable transactions including Shauna Mcintyre's sale of 256 shares, resulting in a 15.69% decrease in her position.
• Lithia Motors announced a $750 million share buyback program, indicating the board's belief that its stock is undervalued amid a recent quarterly dividend of $0.55 per share.

Magnetar Financial LLC purchased a new stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 1,137 shares of the company's stock, valued at approximately $334,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vident Advisory LLC lifted its stake in Lithia Motors by 4.3% in the 4th quarter. Vident Advisory LLC now owns 780 shares of the company's stock valued at $279,000 after buying an additional 32 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Lithia Motors by 1.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,421 shares of the company's stock worth $711,000 after purchasing an additional 35 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in Lithia Motors by 5.6% in the 4th quarter. Benjamin Edwards Inc. now owns 700 shares of the company's stock worth $250,000 after purchasing an additional 37 shares in the last quarter. CWM LLC lifted its stake in Lithia Motors by 30.1% in the 1st quarter. CWM LLC now owns 212 shares of the company's stock worth $62,000 after purchasing an additional 49 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Lithia Motors by 8.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 844 shares of the company's stock worth $302,000 after purchasing an additional 64 shares in the last quarter.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 256 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $293.05, for a total transaction of $75,020.80. Following the completion of the transaction, the director owned 1,376 shares in the company, valued at approximately $403,236.80. The trade was a 15.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.87% of the company's stock.

Lithia Motors Stock Up 0.3%

Shares of Lithia Motors stock traded up $1.01 during trading hours on Friday, reaching $341.10. 187,013 shares of the company were exchanged, compared to its average volume of 288,412. Lithia Motors, Inc. has a 1 year low of $255.32 and a 1 year high of $405.67. The stock's fifty day moving average is $320.73 and its 200 day moving average is $314.22. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.29 and a current ratio of 1.22. The firm has a market cap of $8.75 billion, a PE ratio of 10.11, a PEG ratio of 0.53 and a beta of 1.31.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $10.24 earnings per share for the quarter, topping analysts' consensus estimates of $9.78 by $0.46. The business had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.56 billion. Lithia Motors had a return on equity of 13.21% and a net margin of 2.39%. As a group, equities research analysts forecast that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors announced that its Board of Directors has approved a share repurchase plan on Tuesday, August 26th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the company to repurchase up to 9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Lithia Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, August 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.6%. Lithia Motors's payout ratio is presently 6.52%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Lithia Motors from $335.00 to $315.00 and set an "overweight" rating for the company in a report on Tuesday, August 5th. The Goldman Sachs Group assumed coverage on shares of Lithia Motors in a report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price target for the company. Citigroup raised their price target on shares of Lithia Motors from $378.00 to $383.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Jefferies Financial Group assumed coverage on shares of Lithia Motors in a report on Thursday. They set a "buy" rating and a $400.00 price target for the company. Finally, Bank of America raised their price target on shares of Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Lithia Motors presently has an average rating of "Moderate Buy" and an average target price of $380.91.

Lithia Motors Profile

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.