Lithia Motors, Inc. (NYSE:LAD) Shares Acquired by Westwood Holdings Group Inc.

Key Points

• Westwood Holdings Group Inc. has increased its stake in Lithia Motors, Inc. by 10.2%, owning a total of 77,383 shares valued at approximately $22.72 million.
• A number of large investors have also increased their positions in Lithia Motors, with LPL Financial and O Shaughnessy Asset Management among those raising their stakes significantly in the last quarter.
• Analysts have reduced their target prices for Lithia Motors, with JPMorgan lowering it from $335 to $315 while maintaining an "overweight" rating on the stock.

Westwood Holdings Group Inc. lifted its stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 77,383 shares of the company's stock after acquiring an additional 7,186 shares during the quarter. Westwood Holdings Group Inc. owned 0.30% of Lithia Motors worth $22,715,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Scotia Capital Inc. acquired a new position in shares of Lithia Motors in the 1st quarter worth approximately $3,505,000. R Squared Ltd lifted its holdings in Lithia Motors by 4,066.7% during the 1st quarter. R Squared Ltd now owns 1,250 shares of the company's stock worth $367,000 after buying an additional 1,220 shares in the last quarter. Blueshift Asset Management LLC lifted its holdings in Lithia Motors by 237.5% during the 1st quarter. Blueshift Asset Management LLC now owns 2,052 shares of the company's stock worth $602,000 after buying an additional 1,444 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Lithia Motors by 5.6% during the 1st quarter. Natixis Advisors LLC now owns 98,125 shares of the company's stock worth $28,803,000 after buying an additional 5,203 shares in the last quarter. Finally, Bayforest Capital Ltd lifted its holdings in Lithia Motors by 14.7% during 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.

Insider Buying and Selling

In related news, Director Shauna Mcintyre sold 256 shares of Lithia Motors 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 sale, the director directly owned 1,376 shares in the company, valued at $403,236.80. This trade represents a 15.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by corporate insiders.

Lithia Motors Stock Down 0.2%

Shares of LAD traded down $0.61 during midday trading on Friday, reaching $292.21. The stock had a trading volume of 253,263 shares, compared to its average volume of 390,020. Lithia Motors, Inc. has a 1-year low of $255.32 and a 1-year high of $405.67. The company's fifty day simple moving average is $323.31 and its two-hundred day simple moving average is $321.01. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.45 and a beta of 1.30. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 0.29.

Lithia Motors (NYSE:LAD - Get Free Report) last announced 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. Lithia Motors had a net margin of 2.39% and a return on equity of 13.21%. The firm had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.56 billion. Equities research 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 declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 8th. Lithia Motors's dividend payout ratio (DPR) is currently 6.52%.

Analysts Set New Price Targets

A number of research firms have issued reports on LAD. 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. Wells Fargo & Company reduced 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. The Goldman Sachs Group began 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. JPMorgan Chase & Co. reduced 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. Finally, Bank of America increased their target price on shares of Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $376.60.

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.