Lithia Motors, Inc. $LAD Shares Sold by Lyrical Asset Management LP

Key Points

• Lyrical Asset Management LP reduced its stake in Lithia Motors by 1.4% by selling 7,350 shares, bringing its total ownership to 503,038 shares valued at approximately $147.66 million.
• Several large investors have increased their positions in Lithia Motors, with notable increases from Steadfast Capital Management (up 137.8%) and Janney Montgomery Scott (up 1,865.4%).
• Analyst price targets for Lithia Motors have varied, with Bank of America raising its target from $430 to $500, while Wells Fargo and JPMorgan Chase have cut their targets to $317 and $315, respectively.

Lyrical Asset Management LP trimmed its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 503,038 shares of the company's stock after selling 7,350 shares during the period. Lithia Motors makes up about 2.3% of Lyrical Asset Management LP's investment portfolio, making the stock its 21st largest holding. Lyrical Asset Management LP owned 1.93% of Lithia Motors worth $147,662,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in shares of Lithia Motors in the 1st quarter worth $59,000. UMB Bank n.a. lifted its position in shares of Lithia Motors by 63.7% in the first quarter. UMB Bank n.a. now owns 203 shares of the company's stock valued at $60,000 after acquiring an additional 79 shares in the last quarter. CWM LLC lifted its position in shares of 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 acquiring an additional 49 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Lithia Motors by 50.9% in the first quarter. GAMMA Investing LLC now owns 252 shares of the company's stock valued at $74,000 after acquiring an additional 85 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Lithia Motors in the first quarter worth about $143,000.

Lithia Motors Trading Up 0.5%

Lithia Motors stock traded up $1.57 during trading on Tuesday, hitting $306.14. The company had a trading volume of 71,516 shares, compared to its average volume of 338,151. The company's 50 day simple moving average is $321.52 and its 200-day simple moving average is $318.03. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 0.47 and a beta of 1.30. 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, Inc. has a 1-year low of $255.32 and a 1-year high of $405.67.

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

Lithia Motors Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LAD shares. Citigroup boosted their price objective on Lithia Motors from $378.00 to $383.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group started coverage on Lithia Motors in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price target on the stock. Guggenheim cut their target price on Lithia Motors from $383.00 to $380.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Wells Fargo & Company cut their price target on Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 30th. Finally, Bank of America increased their price target on Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $379.00.

Insiders Place Their Bets

In other Lithia Motors news, Director Shauna Mcintyre sold 256 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $293.05, for a total transaction of $75,020.80. Following the transaction, the director directly owned 1,376 shares in the company, valued at approximately $403,236.80. This represents a 15.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.87% of the company's stock.

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.