Westwood Holdings Group Inc. Raises Position in Lithia Motors, Inc. (NYSE:LAD)

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

Other hedge funds have also recently modified their holdings of the company. LPL Financial LLC grew its stake in shares of Lithia Motors by 14.2% in the fourth quarter. LPL Financial LLC now owns 4,049 shares of the company's stock worth $1,447,000 after purchasing an additional 503 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Lithia Motors by 30.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,580 shares of the company's stock valued at $565,000 after purchasing an additional 369 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Lithia Motors by 9.7% in the 4th quarter. Wellington Management Group LLP now owns 10,528 shares of the company's stock worth $3,763,000 after buying an additional 930 shares during the period. Wells Fargo & Company MN grew its position in shares of Lithia Motors by 5.3% in the 4th quarter. Wells Fargo & Company MN now owns 30,685 shares of the company's stock worth $10,968,000 after buying an additional 1,546 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Lithia Motors by 3.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 27,974 shares of the company's stock worth $9,999,000 after buying an additional 1,013 shares during the last quarter.

Lithia Motors Stock Down 0.2%

Shares of Lithia Motors stock traded down $0.61 during trading on Friday, hitting $292.21. The company's stock had a trading volume of 253,243 shares, compared to its average volume of 341,210. Lithia Motors, Inc. has a 52 week low of $255.32 and a 52 week high of $405.67. The company has a market capitalization of $7.61 billion, a PE ratio of 8.66, a P/E/G ratio of 0.46 and a beta of 1.30. The company has a fifty day simple moving average of $323.81 and a two-hundred day simple moving average of $321.43. 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 (NYSE:LAD - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $10.24 earnings per share for the quarter, beating analysts' consensus estimates of $9.78 by $0.46. Lithia Motors had a net margin of 2.39% and a return on equity of 13.21%. The business had revenue of $9.58 billion during the quarter, compared to the consensus estimate of $9.56 billion. Equities research analysts predict that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, August 8th. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. Lithia Motors's payout ratio is presently 6.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LAD shares. Citigroup upped their target price on Lithia Motors from $378.00 to $383.00 and gave the company a "buy" rating in a report on Tuesday. Wells Fargo & Company reduced their price objective on shares of Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 30th. Bank of America raised their target price on shares of Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. The Goldman Sachs Group initiated coverage on shares of Lithia Motors in a research note on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of Lithia Motors from $335.00 to $315.00 and set an "overweight" rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $376.60.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 256 shares of the business's stock in a transaction on Thursday, July 31st. The stock was 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. The trade was a 15.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.87% of the company's stock.

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.