Inspire Investing LLC Has $402,000 Position in Lithia Motors, Inc. $LAD

Key Points

• Inspire Investing LLC significantly reduced its position in Lithia Motors by 68.6%, owning only 1,371 shares worth approximately $402,000 after selling 2,990 shares in the first quarter.
• Lithia Motors has announced a stock buyback plan allowing for the repurchase of up to $750 million in shares, indicating that the board believes its shares are undervalued.
• Analysts maintain a consensus rating of "Moderate Buy" for Lithia Motors, with a target price of approximately $370.45, despite mixed revisions from several brokerages.

Inspire Investing LLC lessened its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 68.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,371 shares of the company's stock after selling 2,990 shares during the quarter. Inspire Investing LLC's holdings in Lithia Motors were worth $402,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC grew its position in Lithia Motors by 10,136,710.0% in the 1st quarter. Coppell Advisory Solutions LLC now owns 2,027,362 shares of the company's stock valued at $595,112,000 after buying an additional 2,027,342 shares during the last quarter. Steadfast Capital Management LP grew its position in Lithia Motors by 137.8% in the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock valued at $164,524,000 after acquiring an additional 266,715 shares in the last quarter. Park West Asset Management LLC bought a new position in Lithia Motors during the first quarter worth $58,825,000. Millennium Management LLC lifted its stake in Lithia Motors by 1,840.6% in the first quarter. Millennium Management LLC now owns 181,777 shares of the company's stock valued at $53,359,000 after buying an additional 172,410 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Lithia Motors during the first quarter valued at $36,762,000.

Insider Activity at Lithia Motors

In other news, Director Shauna Mcintyre sold 256 shares of the business'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 completion of the sale, the director owned 1,376 shares of the company's stock, valued at approximately $403,236.80. The trade was a 15.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.87% of the company's stock.

Analyst Upgrades and Downgrades

LAD has been the subject of several research reports. Guggenheim reduced their price target on Lithia Motors from $383.00 to $380.00 and set a "buy" rating for the company in a report on Monday, August 11th. Wells Fargo & Company lowered their price objective on shares of Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 30th. The Goldman Sachs Group began coverage on Lithia Motors in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 target price for the company. JPMorgan Chase & Co. lowered their price target on Lithia Motors from $335.00 to $315.00 and set an "overweight" rating for the company in a report on Tuesday, August 5th. Finally, Bank of America reduced their price objective on Lithia Motors from $500.00 to $385.00 and set a "buy" rating for the company in a research note on Wednesday, September 10th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $370.45.

Lithia Motors Price Performance

NYSE LAD traded up $6.54 during trading hours on Thursday, reaching $339.63. The company's stock had a trading volume of 47,907 shares, compared to its average volume of 331,972. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 0.29. The company's 50-day moving average is $319.03 and its two-hundred day moving average is $313.49. Lithia Motors, Inc. has a 1-year low of $262.10 and a 1-year high of $405.67. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 0.67 and a beta of 1.31.

Lithia Motors (NYSE:LAD - Get Free Report) last released its 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 net margin of 2.39% and a return on equity of 13.21%. The business had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.56 billion. On average, equities analysts predict that Lithia Motors, Inc. will post 34.45 EPS for the current year.

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

Lithia Motors Announces Dividend

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