Voya Investment Management LLC Has $4.81 Million Stake in Lithia Motors, Inc. $LAD

Key Points

• Voya Investment Management LLC increased its stake in Lithia Motors by 124.3%, owning 16,392 shares valued at approximately $4.81 million as of the latest SEC filing.
• Lithia Motors reported $10.24 earnings per share (EPS) for the quarter, exceeding analyst expectations of $9.78, with revenues totaling $9.58 billion for the period.
• The company announced a $750 million stock repurchase plan allowing it to buy back up to 9% of its outstanding shares, signaling confidence in the stock's value.

Voya Investment Management LLC raised its position in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 124.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,392 shares of the company's stock after purchasing an additional 9,083 shares during the quarter. Voya Investment Management LLC owned about 0.06% of Lithia Motors worth $4,812,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of LAD. eCIO Inc. purchased a new stake in shares of Lithia Motors during the first quarter worth approximately $55,000. Osterweis Capital Management Inc. acquired a new stake in shares of Lithia Motors in the 1st quarter valued at approximately $12,659,000. Strs Ohio acquired a new position in Lithia Motors during the first quarter worth about $1,852,000. Bayforest Capital Ltd boosted its position in shares of Lithia Motors by 14.7% in the 1st quarter. Bayforest Capital Ltd now owns 1,253 shares of the company's stock worth $368,000 after buying an additional 161 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Lithia Motors by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 93,170 shares of the company's stock worth $27,349,000 after acquiring an additional 13,407 shares during the last quarter.

Insider Buying and Selling at Lithia Motors

In related news, Director Shauna Mcintyre sold 256 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $293.05, for a total transaction of $75,020.80. Following the transaction, the director directly owned 1,376 shares in the company, valued at approximately $403,236.80. The trade was a 15.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on LAD. Citigroup raised their target price on shares of 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 target price on shares of Lithia Motors from $383.00 to $380.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Jefferies Financial Group initiated coverage on shares of Lithia Motors in a research note on Thursday, September 4th. They set a "buy" rating and a $400.00 target price for the company. Bank of America lowered their price target on Lithia Motors from $500.00 to $385.00 and set a "buy" rating on the stock in a research report on Wednesday, September 10th. Finally, The Goldman Sachs Group began coverage on shares of Lithia Motors in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 target price on the stock. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Lithia Motors currently has an average rating of "Moderate Buy" and a consensus target price of $370.45.

Lithia Motors Price Performance

NYSE LAD traded up $1.46 on Monday, hitting $333.89. 264,939 shares of the company were exchanged, compared to its average volume of 268,448. The company has a market cap of $8.56 billion, a P/E ratio of 9.90, a P/E/G ratio of 0.67 and a beta of 1.31. Lithia Motors, Inc. has a 1-year low of $262.10 and a 1-year high of $405.67. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average of $317.90 and a two-hundred day moving average of $313.87.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $10.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.78 by $0.46. The company had revenue of $9.58 billion for 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%. On average, equities analysts predict that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors declared that its board has approved a share buyback program on Tuesday, August 26th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the company to purchase up to 9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Lithia Motors Announces Dividend

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