Petrus Trust Company LTA Takes Position in Lithia Motors, Inc. $LAD

Key Points

• Petrus Trust Company LTA acquired a new stake in Lithia Motors, purchasing 906 shares valued at approximately $266,000 during the first quarter of the year.
• Several hedge funds significantly increased their positions in Lithia Motors, with Millennium Management boosting their holdings by 1,840.6%, now owning 181,777 shares worth $53.36 million.
• Analysts have mixed views on Lithia Motors' stock, with Citigroup raising its price objective to $383.00 while JPMorgan lowered theirs to $315.00; the stock currently holds a consensus rating of "Moderate Buy."

Petrus Trust Company LTA acquired a new position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 906 shares of the company's stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also modified their holdings of LAD. Steadfast Capital Management LP increased its holdings in Lithia Motors by 137.8% in the 4th quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock worth $164,524,000 after purchasing an additional 266,715 shares in the last quarter. Millennium Management LLC increased its holdings in Lithia Motors by 1,840.6% in the 1st quarter. Millennium Management LLC now owns 181,777 shares of the company's stock worth $53,359,000 after purchasing an additional 172,410 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Lithia Motors in the 1st quarter worth about $36,762,000. Nuveen LLC acquired a new position in Lithia Motors in the 1st quarter worth about $32,824,000. Finally, Janney Montgomery Scott LLC increased its holdings in Lithia Motors by 1,865.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 92,293 shares of the company's stock worth $27,092,000 after purchasing an additional 87,597 shares in the last quarter.

Insider Buying and Selling at Lithia Motors

In other news, Director Shauna Mcintyre sold 256 shares of the firm's stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Lithia Motors Stock Down 2.8%

Lithia Motors stock traded down $9.66 during mid-day trading on Friday, reaching $334.34. The stock had a trading volume of 234,700 shares, compared to its average volume of 282,765. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.29 and a current ratio of 1.22. Lithia Motors, Inc. has a fifty-two week low of $262.10 and a fifty-two week high of $405.67. The stock's 50-day simple moving average is $319.94 and its 200-day simple moving average is $313.31. The firm has a market capitalization of $8.57 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 0.68 and a beta of 1.31.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $9.58 billion during the quarter, compared to analysts' expectations of $9.56 billion. On average, sell-side analysts forecast that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors declared that its board has authorized a share buyback plan on Tuesday, August 26th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Lithia Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 8th. Lithia Motors's dividend payout ratio (DPR) is 6.52%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LAD. Citigroup raised their price objective on Lithia Motors from $378.00 to $383.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Guggenheim lowered 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. Wells Fargo & Company lowered 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. Jefferies Financial Group began coverage on Lithia Motors in a research report on Thursday, September 4th. They set a "buy" rating and a $400.00 price objective for the company. Finally, 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 objective for the company. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $370.45.

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.