Versor Investments LP Purchases New Stake in Lithia Motors, Inc. $LAD

Key Points

• Versor Investments LP has acquired a new stake in Lithia Motors, purchasing 3,080 shares valued at approximately $904,000 during the first quarter.
• Wall Street analysts have mixed views on Lithia Motors, with target price reductions from Wells Fargo and JPMorgan, while Citigroup maintained a buy rating and increased their target price to $383.00.
• Lithia Motors recently announced a quarterly dividend of $0.55 per share, indicating an annualized yield of 0.7%, with the ex-dividend date set for August 8th.

Versor Investments LP purchased a new stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,080 shares of the company's stock, valued at approximately $904,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Abrams Capital Management L.P. raised its holdings in Lithia Motors by 2.2% in the first quarter. Abrams Capital Management L.P. now owns 2,444,678 shares of the company's stock valued at $717,611,000 after acquiring an additional 53,490 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Lithia Motors by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,267,519 shares of the company's stock valued at $372,053,000 after acquiring an additional 72,980 shares in the last quarter. Steadfast Capital Management LP raised its holdings in Lithia Motors by 137.8% in the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock valued at $164,524,000 after acquiring an additional 266,715 shares in the last quarter. Madison Asset Management LLC raised its holdings in Lithia Motors by 9.9% in the first quarter. Madison Asset Management LLC now owns 280,456 shares of the company's stock valued at $82,325,000 after acquiring an additional 25,331 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Lithia Motors by 30.1% in the fourth quarter. Northern Trust Corp now owns 256,979 shares of the company's stock valued at $91,852,000 after acquiring an additional 59,525 shares in the last quarter.

Wall Street Analyst Weigh In

LAD has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 30th. JPMorgan Chase & Co. dropped their target price on shares of Lithia Motors from $335.00 to $315.00 and set an "overweight" rating on the stock in a report on Tuesday, August 5th. Guggenheim dropped their target price on shares of Lithia Motors from $383.00 to $380.00 and set a "buy" rating on the stock in a report on Monday, August 11th. The Goldman Sachs Group initiated coverage on shares of Lithia Motors in a report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 target price on the stock. Finally, Citigroup increased their target price on shares of Lithia Motors from $378.00 to $383.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $379.00.

Lithia Motors Stock Up 1.3%

Lithia Motors stock opened at $304.68 on Tuesday. The company has a 50-day simple moving average of $321.52 and a 200-day simple moving average of $318.03. The firm has a market capitalization of $7.81 billion, a P/E ratio of 9.03, a P/E/G ratio of 0.47 and a beta of 1.30. 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 one year low of $255.32 and a one year high of $405.67.

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, topping the consensus estimate of $9.78 by $0.46. The business had revenue of $9.58 billion during the quarter, compared to analyst estimates of $9.56 billion. Lithia Motors had a net margin of 2.39% and a return on equity of 13.21%. As a group, equities analysts expect that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, August 8th. Lithia Motors's dividend payout ratio is currently 6.52%.

Insider Transactions at Lithia Motors

In related news, Director Shauna Mcintyre sold 256 shares of the 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 completion of the transaction, the director owned 1,376 shares in the company, valued at $403,236.80. This represents a 15.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.87% of the stock is owned by corporate insiders.

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.

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