Sei Investments Co. Boosts Stake in Lithia Motors, Inc. $LAD

Key Points

• Sei Investments increased its Lithia Motors stake by 48.1% in the first quarter, acquiring 46,391 additional shares for a total holding of 142,812 shares valued at approximately $35.7 million.
• Analyst sentiment remains positive, with eight analysts rating the stock a Buy and four a Hold. The consensus price target is $380.33, above the reported share price of $341.04.
• Lithia Motors exceeded first-quarter earnings expectations, reporting $7.34 in EPS and $9.27 billion in revenue, while also authorizing a $500 million share-repurchase program covering up to 7.9% of outstanding shares.

Sei Investments Co. boosted its holdings in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 48.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 142,812 shares of the company's stock after acquiring an additional 46,391 shares during the quarter. Sei Investments Co. owned about 0.63% of Lithia Motors worth $35,663,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Clearstead Advisors LLC boosted its position in shares of Lithia Motors by 111.4% during the 4th quarter. Clearstead Advisors LLC now owns 93 shares of the company's stock worth $31,000 after purchasing an additional 49 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Lithia Motors in the fourth quarter valued at about $34,000. Quarry LP lifted its stake in shares of Lithia Motors by 101.9% in the fourth quarter. Quarry LP now owns 109 shares of the company's stock valued at $36,000 after purchasing an additional 55 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Lithia Motors during the fourth quarter worth about $38,000. Finally, eCIO Inc. purchased a new stake in Lithia Motors during the fourth quarter worth about $42,000.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup increased their target price on shares of Lithia Motors from $326.00 to $365.00 and gave the company a "buy" rating in a report on Friday, May 1st. Zacks Research upgraded Lithia Motors from a "strong sell" rating to a "hold" rating in a report on Thursday, April 23rd. Bank of America raised their price objective on Lithia Motors from $350.00 to $417.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Barclays reduced their price objective on Lithia Motors from $370.00 to $360.00 and set an "overweight" rating for the company in a report on Wednesday, July 15th. Finally, UBS Group boosted their target price on Lithia Motors from $348.00 to $370.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Lithia Motors has an average rating of "Moderate Buy" and a consensus target price of $380.33.

Insiders Place Their Bets

In other news, Director Shauna Mcintyre sold 165 shares of the company's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $305.64, for a total value of $50,430.60. Following the sale, the director directly owned 1,681 shares in the company, valued at $513,780.84. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard J. Bailey, Jr. sold 297 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $280.57, for a total value of $83,329.29. Following the sale, the director directly owned 760 shares in the company, valued at approximately $213,233.20. The trade was a 28.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 782 shares of company stock worth $229,572. 1.08% of the stock is owned by insiders.

Lithia Motors Stock Up 0.0%

Shares of NYSE LAD opened at $341.04 on Monday. The firm's 50-day moving average is $302.18 and its two-hundred day moving average is $293.89. The company has a market capitalization of $7.78 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 0.80 and a beta of 1.26. Lithia Motors, Inc. has a 12-month low of $239.78 and a 12-month high of $360.55. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.24.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $7.34 earnings per share for the quarter, topping analysts' consensus estimates of $7.06 by $0.28. Lithia Motors had a net margin of 1.88% and a return on equity of 12.49%. The business had revenue of $9.27 billion during the quarter, compared to analysts' expectations of $9.22 billion. During the same period last year, the company posted $7.66 EPS. The company's revenue was up 1.0% on a year-over-year basis. Equities analysts anticipate that Lithia Motors, Inc. will post 34.19 EPS for the current fiscal year.

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

About Lithia Motors

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.