Tabor Asset Management LP Invests $2.56 Million in Lithia Motors, Inc. (NYSE:LAD)

Tabor Asset Management LP acquired a new position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,157 shares of the company's stock, valued at approximately $2,558,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Teza Capital Management LLC purchased a new position in Lithia Motors in the 4th quarter valued at about $921,000. Stanley Capital Management LLC acquired a new position in shares of Lithia Motors in the fourth quarter valued at approximately $11,065,000. Steadfast Capital Management LP lifted its stake in shares of Lithia Motors by 137.8% during the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock valued at $164,524,000 after buying an additional 266,715 shares during the period. Shellback Capital LP acquired a new stake in Lithia Motors during the fourth quarter worth approximately $18,987,000. Finally, Redwood Investment Management LLC purchased a new stake in Lithia Motors in the 4th quarter worth approximately $1,432,000.

Analysts Set New Price Targets

A number of brokerages have weighed in on LAD. Benchmark reissued a "buy" rating and set a $400.00 price target on shares of Lithia Motors in a research note on Thursday, February 20th. The Goldman Sachs Group reduced their target price on Lithia Motors from $385.00 to $328.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Guggenheim decreased their price target on Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company lowered their price target on Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Finally, Citigroup upgraded shares of Lithia Motors from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $415.00 to $375.00 in a report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $361.20.

Lithia Motors Trading Up 0.4%

Shares of Lithia Motors stock traded up $1.27 during trading hours on Thursday, reaching $306.93. The stock had a trading volume of 344,515 shares, compared to its average volume of 316,473. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 10.34, a P/E/G ratio of 4.65 and a beta of 1.48. Lithia Motors, Inc. has a 1 year low of $243.04 and a 1 year high of $405.68. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.22. The firm has a 50 day simple moving average of $298.75 and a two-hundred day simple moving average of $338.81.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $7.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.77 by ($0.11). The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.19 billion. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $6.11 EPS. As a group, equities research analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.20 annualized dividend and a dividend yield of 0.72%. This is a positive change from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's dividend payout ratio is presently 6.93%.

Insider Activity

In related news, Director Shauna Mcintyre sold 248 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $290.84, for a total value of $72,128.32. Following the completion of the sale, the director now directly owns 1,297 shares in the company, valued at approximately $377,219.48. This represents a 16.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Congdon Stacy Loretz sold 270 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $298.80, for a total value of $80,676.00. Following the transaction, the director now owns 1,213 shares in the company, valued at approximately $362,444.40. This represents a 18.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 855 shares of company stock valued at $252,536. Company 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.