Algert Global LLC Acquires 8,761 Shares of Lithia Motors, Inc. $LAD

Key Points

• Algert Global LLC increased its stake in Lithia Motors by 23.1%, now owning 46,745 shares valued at approximately $13.7 million after acquiring an additional 8,761 shares.
• Lithia Motors reported earnings of $10.24 per share for the last quarter, surpassing the expected $9.78, with a revenue of $9.58 billion.
• The company announced a quarterly dividend of $0.55 per share, which will be paid on August 22nd, representing an annual yield of 0.7%.

Algert Global LLC raised its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 23.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,745 shares of the company's stock after purchasing an additional 8,761 shares during the period. Algert Global LLC owned 0.18% of Lithia Motors worth $13,722,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vident Advisory LLC increased its stake in shares of Lithia Motors by 4.3% in the fourth quarter. Vident Advisory LLC now owns 780 shares of the company's stock worth $279,000 after purchasing an additional 32 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Lithia Motors by 1.5% in the first 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 during the period. Benjamin Edwards Inc. increased its stake in shares of Lithia Motors by 5.6% in the fourth quarter. Benjamin Edwards Inc. now owns 700 shares of the company's stock worth $250,000 after purchasing an additional 37 shares during the period. Mariner LLC increased its stake in shares of Lithia Motors by 2.9% in the fourth quarter. Mariner LLC now owns 1,475 shares of the company's stock worth $527,000 after purchasing an additional 42 shares during the period. Finally, CWM LLC increased its stake in shares of Lithia Motors by 30.1% in the first quarter. CWM LLC now owns 212 shares of the company's stock worth $62,000 after purchasing an additional 49 shares during the period.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 256 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $293.05, for a total transaction of $75,020.80. Following the transaction, the director owned 1,376 shares in the company, valued at approximately $403,236.80. This trade represents a 15.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.87% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LAD. The Goldman Sachs Group began coverage on shares of Lithia Motors in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 target price for the company. Wells Fargo & Company reduced their target price on shares of Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 30th. Bank of America increased their target price on shares of Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research note on Monday, June 16th. JPMorgan Chase & Co. reduced their target price on shares of Lithia Motors from $335.00 to $315.00 and set an "overweight" rating for the company in a research note on Tuesday, August 5th. Finally, Citigroup increased their target price on shares of Lithia Motors from $378.00 to $383.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $379.00.

Lithia Motors Price Performance

LAD stock traded up $1.5450 during trading on Thursday, hitting $308.2450. 350,139 shares of the stock traded hands, compared to its average volume of 339,143. Lithia Motors, Inc. has a one year low of $255.32 and a one year high of $405.67. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 9.14, a P/E/G ratio of 0.48 and a beta of 1.30. The company has a 50 day simple moving average of $320.35 and a 200 day simple moving average of $317.88. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $10.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.78 by $0.46. Lithia Motors had a net margin of 2.39% and a return on equity of 13.21%. The firm had revenue of $9.58 billion during the quarter, compared to the consensus estimate of $9.56 billion. Equities analysts expect that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 8th. Lithia Motors's payout ratio is currently 6.52%.

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.