Assenagon Asset Management S.A. Invests $36.76 Million in Lithia Motors, Inc. (NYSE:LAD)

Assenagon Asset Management S.A. bought a new stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 125,237 shares of the company's stock, valued at approximately $36,762,000. Assenagon Asset Management S.A. owned approximately 0.48% of Lithia Motors at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vident Advisory LLC increased its stake in 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 acquiring an additional 32 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of Lithia Motors by 33.9% in the fourth quarter. V Square Quantitative Management LLC now owns 146 shares of the company's stock valued at $52,000 after buying an additional 37 shares in the last quarter. Benjamin Edwards Inc. grew 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 valued at $250,000 after buying an additional 37 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Lithia Motors by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 863 shares of the company's stock valued at $308,000 after buying an additional 42 shares in the last quarter. Finally, Mariner LLC grew 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 valued at $527,000 after buying an additional 42 shares in the last quarter.

Lithia Motors Stock Up 2.5%

NYSE:LAD traded up $8.22 during midday trading on Monday, reaching $332.13. The company had a trading volume of 140,918 shares, compared to its average volume of 313,212. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 4.65 and a beta of 1.47. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.22. The stock's fifty day simple moving average is $307.32 and its 200-day simple moving average is $331.30. Lithia Motors, Inc. has a 12-month low of $243.04 and a 12-month high of $405.68.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $7.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.77 by ($0.11). The business had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $9.19 billion. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. The firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $6.11 earnings per share. On average, sell-side analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.66%. This is an increase from Lithia Motors's previous quarterly dividend of $0.53. The ex-dividend date was Friday, May 9th. Lithia Motors's payout ratio is 6.93%.

Insiders Place Their Bets

In other news, Director Shauna Mcintyre sold 337 shares of Lithia Motors stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $295.94, for a total transaction of $99,731.78. Following the sale, the director now owns 1,632 shares in the company, valued at approximately $482,974.08. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citigroup raised Lithia Motors from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $415.00 to $375.00 in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Bank of America lifted their price objective on Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research note on Monday. Benchmark reaffirmed a "buy" rating and issued a $400.00 price objective on shares of Lithia Motors in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. dropped their price objective on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $379.40.

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.