CreativeOne Wealth LLC Has $1.08 Million Stock Holdings in Lithia Motors, Inc. $LAD

Key Points

• CreativeOne Wealth LLC significantly increased its holdings in Lithia Motors, acquiring 1,825 shares and raising its stake by 98.3%, now valued at approximately $1,081,000.
• Lithia Motors recently reported strong quarterly earnings, with an EPS of $10.24 that surpassed analyst estimates, and announced a $750 million share repurchase plan.
• Several analysts have issued mixed ratings on Lithia Motors, with target prices ranging from $315 to $500, indicating a consensus "Moderate Buy" rating for the stock.

CreativeOne Wealth LLC lifted its holdings in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 98.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,682 shares of the company's stock after buying an additional 1,825 shares during the period. CreativeOne Wealth LLC's holdings in Lithia Motors were worth $1,081,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LAD. Steadfast Capital Management LP boosted its position in shares of Lithia Motors by 137.8% in the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock worth $164,524,000 after buying an additional 266,715 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Lithia Motors during the first quarter valued at $36,762,000. Nuveen LLC acquired a new stake in Lithia Motors during the first quarter valued at $32,824,000. Janney Montgomery Scott LLC boosted its position in Lithia Motors by 1,865.4% during the first quarter. Janney Montgomery Scott LLC now owns 92,293 shares of the company's stock valued at $27,092,000 after purchasing an additional 87,597 shares during the last quarter. Finally, Advent International L.P. boosted its position in Lithia Motors by 52.9% during the fourth quarter. Advent International L.P. now owns 217,151 shares of the company's stock valued at $77,616,000 after purchasing an additional 75,151 shares during the last quarter.

Insider Buying and Selling at Lithia Motors

In other news, Director Shauna Mcintyre sold 256 shares of Lithia Motors stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $293.05, for a total value of $75,020.80. Following the transaction, the director directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Lithia Motors Stock Up 2.5%

Shares of NYSE:LAD traded up $8.27 on Thursday, reaching $340.03. The company had a trading volume of 174,838 shares, compared to its average volume of 291,955. Lithia Motors, Inc. has a twelve month low of $255.32 and a twelve month high of $405.67. The stock has a 50-day moving average price of $320.62 and a 200 day moving average price of $314.46. The stock has a market capitalization of $8.72 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.51 and a beta of 1.31. The company has a quick ratio of 0.29, a current ratio of 1.22 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 for the quarter, topping analysts' consensus estimates of $9.78 by $0.46. Lithia Motors had a return on equity of 13.21% and a net margin of 2.39%.The company had revenue of $9.58 billion during the quarter, compared to analysts' expectations of $9.56 billion. On average, equities analysts expect that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors declared that its board has authorized a stock repurchase program on Tuesday, August 26th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.6%. Lithia Motors's payout ratio is currently 6.52%.

Analysts Set New Price Targets

LAD has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 30th. Guggenheim reduced their price objective on Lithia Motors from $383.00 to $380.00 and set a "buy" rating for the company in a research report on Monday, August 11th. JPMorgan Chase & Co. reduced their price objective on Lithia Motors from $335.00 to $315.00 and set an "overweight" rating for the company in a research report on Tuesday, August 5th. Citigroup lifted their price objective on Lithia Motors from $378.00 to $383.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, The Goldman Sachs Group initiated coverage on Lithia Motors in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $380.91.

About Lithia Motors

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.