Miller Value Partners LLC Buys New Holdings in Lithia Motors, Inc. $LAD

Miller Value Partners LLC purchased a new position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,712 shares of the company's stock, valued at approximately $788,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Clearstead Advisors LLC raised its position in shares of Lithia Motors by 111.4% during the fourth quarter. Clearstead Advisors LLC now owns 93 shares of the company's stock worth $31,000 after purchasing an additional 49 shares during the period. Addison Advisors LLC acquired a new stake in Lithia Motors in the 2nd quarter valued at $30,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Lithia Motors in the 2nd quarter valued at $30,000. Quarry LP increased its stake in Lithia Motors by 101.9% during the 4th quarter. Quarry LP now owns 109 shares of the company's stock valued at $36,000 after purchasing an additional 55 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Lithia Motors during the fourth quarter worth $38,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Lithia Motors from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Lithia Motors from $325.00 to $340.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 4th. Wells Fargo & Company upped their target price on shares of Lithia Motors from $306.00 to $395.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Citigroup raised their price target on shares of Lithia Motors from $365.00 to $455.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, Benchmark lifted their price target on Lithia Motors from $400.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Lithia Motors has a consensus rating of "Moderate Buy" and a consensus price target of $436.33.

Insider Buying and Selling

In other Lithia Motors news, Director Shauna Mcintyre sold 165 shares of Lithia Motors stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $305.64, for a total transaction of $50,430.60. Following the transaction, the director owned 1,681 shares of the company's stock, valued at $513,780.84. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.08% of the company's stock.

Lithia Motors Trading Up 1.0%

NYSE LAD opened at $372.35 on Wednesday. Lithia Motors, Inc. has a 12 month low of $239.78 and a 12 month high of $439.49. The company has a current ratio of 1.00, a quick ratio of 0.21 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $8.18 billion, a P/E ratio of 12.35, a PEG ratio of 0.78 and a beta of 1.22. The business has a fifty day simple moving average of $339.72 and a 200 day simple moving average of $300.91.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $10.03 EPS for the quarter, beating the consensus estimate of $8.73 by $1.30. Lithia Motors had a net margin of 1.88% and a return on equity of 12.16%. The company had revenue of $9.79 billion during the quarter, compared to the consensus estimate of $9.64 billion. During the same quarter in the prior year, the company posted $10.24 earnings per share. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts predict that Lithia Motors, Inc. will post 36 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were paid a $0.70 dividend. This is a positive change from Lithia Motors's previous quarterly dividend of $0.57. The ex-dividend date was Friday, August 7th. This represents a $2.80 annualized dividend and a yield of 0.8%. Lithia Motors's dividend payout ratio (DPR) is 9.29%.

Lithia Motors announced that its Board of Directors has approved a share buyback program on Tuesday, May 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Lithia Motors Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company's core business activities include vehicle sales, financing, insurance, parts and service.

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