Redwood Investments LLC Purchases New Position in Lithia Motors Inc (NYSE:LAD)

Redwood Investments LLC purchased a new stake in shares of Lithia Motors Inc (NYSE:LAD) during the second quarter, Holdings Channel reports. The institutional investor purchased 167,492 shares of the company’s stock, valued at approximately $19,895,000. Lithia Motors makes up approximately 1.5% of Redwood Investments LLC’s portfolio, making the stock its 21st biggest position.

Other hedge funds have also made changes to their positions in the company. 6 Meridian increased its holdings in Lithia Motors by 1.0% during the 2nd quarter. 6 Meridian now owns 10,481 shares of the company’s stock worth $1,245,000 after acquiring an additional 106 shares during the period. Bridge City Capital LLC increased its holdings in Lithia Motors by 0.5% during the 2nd quarter. Bridge City Capital LLC now owns 24,343 shares of the company’s stock worth $2,891,000 after acquiring an additional 118 shares during the period. Harfst & Associates Inc. increased its holdings in Lithia Motors by 3.4% during the 1st quarter. Harfst & Associates Inc. now owns 4,173 shares of the company’s stock worth $387,000 after acquiring an additional 138 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Lithia Motors by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 8,726 shares of the company’s stock worth $809,000 after acquiring an additional 158 shares during the period. Finally, Mason Street Advisors LLC increased its holdings in Lithia Motors by 2.6% during the 1st quarter. Mason Street Advisors LLC now owns 7,177 shares of the company’s stock worth $666,000 after acquiring an additional 181 shares during the period.

Shares of NYSE:LAD traded down $3.02 during trading on Wednesday, reaching $125.75. The company had a trading volume of 127,499 shares, compared to its average volume of 325,784. The company has a fifty day moving average price of $122.95. The stock has a market cap of $2.94 billion, a PE ratio of 12.60, a P/E/G ratio of 1.05 and a beta of 1.11. Lithia Motors Inc has a 12 month low of $67.90 and a 12 month high of $139.18. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.16 and a quick ratio of 0.23.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $2.95 EPS for the quarter, topping the Zacks’ consensus estimate of $2.87 by $0.08. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.19 billion. Lithia Motors had a net margin of 2.24% and a return on equity of 20.74%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.52 EPS. As a group, equities research analysts predict that Lithia Motors Inc will post 11.14 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Thursday, August 8th. Lithia Motors’s payout ratio is 12.02%.

In other news, Director Susan O. Cain sold 723 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $134.78, for a total value of $97,445.94. Following the transaction, the director now owns 11,651 shares of the company’s stock, valued at approximately $1,570,321.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.21% of the stock is owned by corporate insiders.

A number of analysts recently weighed in on the stock. Craig Hallum upped their target price on shares of Lithia Motors from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Stephens raised shares of Lithia Motors from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $106.00 to $132.00 in a report on Thursday, April 25th. Zacks Investment Research raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. ValuEngine lowered shares of Lithia Motors from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Morgan Stanley upped their target price on shares of Lithia Motors from $129.00 to $144.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $124.44.

About Lithia Motors

Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.

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Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

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