AlphaQuest LLC Makes New $999,000 Investment in Lithia Motors, Inc. $LAD

Key Points

• AlphaQuest LLC has acquired a new position of 3,402 shares in Lithia Motors, valued at approximately $999,000, according to their recent SEC filing.
• Lithia Motors reported $10.24 earnings per share for the last quarter, exceeding analysts' expectations of $9.78, alongside a revenue of $9.58 billion.
• The company recently announced a quarterly dividend of $0.55 per share, representing an annual yield of 0.7% and a dividend payout ratio of 6.52%.

AlphaQuest LLC purchased a new position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,402 shares of the company's stock, valued at approximately $999,000.

Several other institutional investors also recently modified their holdings of the stock. Vident Advisory LLC increased its holdings in shares of Lithia Motors by 4.3% during the fourth quarter. Vident Advisory LLC now owns 780 shares of the company's stock worth $279,000 after buying an additional 32 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Lithia Motors by 1.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,421 shares of the company's stock worth $711,000 after buying an additional 35 shares in the last quarter. Benjamin Edwards Inc. increased its holdings in Lithia Motors by 5.6% in the fourth quarter. Benjamin Edwards Inc. now owns 700 shares of the company's stock valued at $250,000 after purchasing an additional 37 shares during the period. Mariner LLC increased its holdings in Lithia Motors by 2.9% in the fourth quarter. Mariner LLC now owns 1,475 shares of the company's stock valued at $527,000 after purchasing an additional 42 shares during the period. Finally, CWM LLC increased its holdings in Lithia Motors by 30.1% in the first quarter. CWM LLC now owns 212 shares of the company's stock valued at $62,000 after purchasing an additional 49 shares during the period.

Insiders Place Their Bets

In related news, Director Shauna Mcintyre sold 256 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $293.05, for a total value of $75,020.80. Following the transaction, the director owned 1,376 shares of the company's stock, valued at approximately $403,236.80. This trade represents a 15.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.87% of the company's stock.

Wall Street Analysts Forecast Growth

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

Lithia Motors Stock Down 0.4%

Shares of LAD stock traded down $1.21 on Thursday, reaching $338.77. 318,258 shares of the company were exchanged, compared to its average volume of 338,186. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 0.51 and a beta of 1.30. The company has a 50-day moving average of $320.21 and a 200-day moving average of $316.20. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 0.29. Lithia Motors, Inc. has a one year low of $255.32 and a one year high of $405.67.

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

Lithia Motors declared that its Board of Directors has authorized a stock buyback plan on Tuesday, August 26th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Lithia Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.20 annualized dividend and a yield of 0.6%. Lithia Motors's dividend payout ratio (DPR) is presently 6.52%.

Lithia Motors Company 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.