Engle Capital Management L.P. Trims Stock Position in Lithia Motors, Inc. (NYSE:LAD)

Engle Capital Management L.P. trimmed its holdings in Lithia Motors, Inc. (NYSE:LAD) by 4.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 43,000 shares of the company’s stock after selling 2,000 shares during the quarter. Lithia Motors makes up approximately 3.8% of Engle Capital Management L.P.’s holdings, making the stock its 12th biggest holding. Engle Capital Management L.P.’s holdings in Lithia Motors were worth $10,855,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cadian Capital Management LP acquired a new position in shares of Lithia Motors in the 4th quarter valued at $105,370,000. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Lithia Motors by 14.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,700,893 shares of the company’s stock valued at $429,390,000 after buying an additional 217,867 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Lithia Motors by 25.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,016,520 shares of the company’s stock worth $256,621,000 after buying an additional 203,543 shares during the period. Bridges Investment Management Inc. increased its position in shares of Lithia Motors by 118.9% during the second quarter. Bridges Investment Management Inc. now owns 160,860 shares of the company’s stock valued at $40,609,000 after acquiring an additional 87,362 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Lithia Motors by 413.6% in the 4th quarter. Wellington Management Group LLP now owns 65,142 shares of the company’s stock valued at $21,450,000 after acquiring an additional 52,458 shares during the period.

Insiders Place Their Bets

In other news, Director Sidney B. Deboer sold 11,938 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the completion of the transaction, the director now owns 46,129 shares in the company, valued at approximately $13,417,080.94. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Lithia Motors news, Director Sidney B. Deboer sold 10,777 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $275.93, for a total value of $2,973,697.61. Following the completion of the sale, the director now owns 35,352 shares in the company, valued at $9,754,677.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sidney B. Deboer sold 11,938 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the transaction, the director now owns 46,129 shares in the company, valued at $13,417,080.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,021 shares of company stock valued at $6,534,617. 1.79% of the stock is owned by corporate insiders.

Lithia Motors Price Performance

Shares of LAD opened at $309.46 on Thursday. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 0.30 and a beta of 1.64. The firm’s fifty day simple moving average is $282.29 and its 200-day simple moving average is $271.55. Lithia Motors, Inc. has a twelve month low of $231.36 and a twelve month high of $331.96. The company has a current ratio of 1.19, a quick ratio of 0.30 and a debt-to-equity ratio of 1.26.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.09 by $0.78. The company had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.29 billion. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. Lithia Motors’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the business earned $10.91 EPS. Equities analysts forecast that Lithia Motors, Inc. will post 28.78 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.53 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.12 annualized dividend and a yield of 0.69%. Lithia Motors’s dividend payout ratio is currently 6.26%.

Analyst Ratings Changes

LAD has been the subject of several research reports. Bank of America lifted their target price on shares of Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a report on Monday, July 22nd. StockNews.com downgraded Lithia Motors from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised their target price on Lithia Motors from $315.00 to $375.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Wells Fargo & Company boosted their price target on shares of Lithia Motors from $266.00 to $302.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Stephens assumed coverage on shares of Lithia Motors in a research note on Thursday, September 12th. They issued an “overweight” rating and a $360.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $334.00.

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.