Teza Capital Management LLC Sells 1,094 Shares of Lithia Motors, Inc. $LAD

Key Points

• Teza Capital Management LLC reduced its stake in Lithia Motors, Inc. by 42.4%, selling 1,094 shares and now holding 1,484 shares valued at approximately $436,000.
• Lithia Motors announced a share repurchase plan worth $750 million, allowing the company to buy back up to 9% of its stock, indicating confidence in its valuation.
• The company reported an EPS of $10.24 for the last quarter, exceeding analysts' expectations, with revenues reaching $9.58 billion.

Teza Capital Management LLC trimmed its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 42.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,484 shares of the company's stock after selling 1,094 shares during the quarter. Teza Capital Management LLC's holdings in Lithia Motors were worth $436,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LAD. NBC Securities Inc. purchased a new position in shares of Lithia Motors in the first quarter worth about $59,000. UMB Bank n.a. boosted its stake in Lithia Motors by 63.7% in the 1st quarter. UMB Bank n.a. now owns 203 shares of the company's stock worth $60,000 after purchasing an additional 79 shares in the last quarter. CWM LLC lifted its stake in Lithia Motors by 30.1% during the 1st quarter. CWM LLC now owns 212 shares of the company's stock valued at $62,000 after acquiring an additional 49 shares during the period. GAMMA Investing LLC increased its holdings in Lithia Motors by 50.9% in the 1st quarter. GAMMA Investing LLC now owns 252 shares of the company's stock worth $74,000 after acquiring an additional 85 shares in the last quarter. Finally, Quarry LP purchased a new stake in Lithia Motors during the 1st quarter valued at approximately $136,000.

Insider Activity at Lithia Motors

In other news, Director Shauna Mcintyre sold 256 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $293.05, for a total value of $75,020.80. Following the sale, the director directly owned 1,376 shares of the company's stock, valued at approximately $403,236.80. This represents a 15.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LAD has been the subject of several research analyst reports. Guggenheim decreased their target price 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. JPMorgan Chase & Co. decreased their price target on Lithia Motors from $335.00 to $315.00 and set an "overweight" rating for the company in a report on Tuesday, August 5th. Jefferies Financial Group started coverage on Lithia Motors in a research report on Thursday, September 4th. They set a "buy" rating and a $400.00 price target for the company. Wells Fargo & Company decreased their price target on Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group initiated coverage on Lithia Motors in a report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $370.45.

Lithia Motors Stock Performance

Shares of NYSE:LAD traded down $9.66 during trading on Friday, hitting $334.34. 234,700 shares of the company traded hands, compared to its average volume of 287,090. Lithia Motors, Inc. has a one year low of $262.10 and a one year high of $405.67. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.70 and a beta of 1.31. The business's fifty day moving average is $319.94 and its 200-day moving average is $313.53. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 1.24.

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. The company had revenue of $9.58 billion during the quarter, compared to the consensus estimate of $9.56 billion. Lithia Motors had a return on equity of 13.21% and a net margin of 2.39%. As a group, equities analysts predict that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors declared that its Board of Directors has authorized a share repurchase program on Tuesday, August 26th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the company to buy up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Lithia Motors Dividend Announcement

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

Lithia Motors Company 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.