Osterweis Capital Management Inc. Invests $12.66 Million in Lithia Motors, Inc. $LAD

Key Points

• Osterweis Capital Management Inc. acquired 43,124 shares of Lithia Motors, Inc., valued at approximately $12.66 million, representing about 0.17% of the company's stock as of its most recent SEC filing.
• Several analysts have differing target prices for Lithia Motors, with Bank of America raising its target from $430 to $500, while Wells Fargo lowered theirs from $364 to $317, indicating varied sentiment on the stock.
• Lithia Motors recently announced a quarterly dividend of $0.55, translating to an annual yield of 0.7%, with the ex-dividend date set for August 8th.

Osterweis Capital Management Inc. bought a new position in Lithia Motors, Inc. (NYSE:LAD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 43,124 shares of the company's stock, valued at approximately $12,659,000. Osterweis Capital Management Inc. owned 0.17% of Lithia Motors as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. EntryPoint Capital LLC increased its stake in Lithia Motors by 62.7% in the first quarter. EntryPoint Capital LLC now owns 1,920 shares of the company's stock worth $564,000 after purchasing an additional 740 shares during the period. Hsbc Holdings PLC grew its position in shares of Lithia Motors by 1,539.1% during the 1st quarter. Hsbc Holdings PLC now owns 15,096 shares of the company's stock worth $4,379,000 after buying an additional 14,175 shares in the last quarter. HITE Hedge Asset Management LLC grew its position in shares of Lithia Motors by 70.2% during the 1st quarter. HITE Hedge Asset Management LLC now owns 164,281 shares of the company's stock worth $48,223,000 after buying an additional 67,773 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Lithia Motors during the 1st quarter worth $3,697,000. Finally, Wellington Management Group LLP grew its position in shares of Lithia Motors by 16.1% during the 1st quarter. Wellington Management Group LLP now owns 12,226 shares of the company's stock worth $3,589,000 after buying an additional 1,698 shares in the last quarter.

Insider Activity

In other news, Director Shauna Mcintyre sold 256 shares of the firm's 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 completion of the transaction, the director directly owned 1,376 shares in the company, valued at $403,236.80. This trade represents a 15.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.87% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LAD shares. JPMorgan Chase & Co. dropped their price target on Lithia Motors from $335.00 to $315.00 and set an "overweight" rating on the stock in a research report 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. Wells Fargo & Company dropped 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. Guggenheim dropped their price target 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. Finally, Citigroup increased their price target on Lithia Motors from $378.00 to $383.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Lithia Motors has a consensus rating of "Moderate Buy" and a consensus price target of $379.00.

Lithia Motors Stock Up 6.1%

Lithia Motors stock traded up $18.6780 during midday trading on Friday, reaching $326.8080. The company's stock had a trading volume of 318,728 shares, compared to its average volume of 370,567. The stock's 50-day simple moving average is $320.01 and its 200-day simple moving average is $316.72. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 0.29. Lithia Motors, Inc. has a 52-week low of $255.32 and a 52-week high of $405.67. The stock has a market capitalization of $8.38 billion, a P/E ratio of 9.69, a PEG ratio of 0.51 and a beta of 1.30.

Lithia Motors (NYSE:LAD - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $10.24 EPS for the quarter, beating 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, sell-side analysts expect that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 8th. Lithia Motors's dividend payout ratio (DPR) is presently 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.