Algert Global LLC Has $5.43 Million Position in Lithia Motors, Inc. (NYSE:LAD)

Algert Global LLC increased its stake in shares of Lithia Motors, Inc. (NYSE:LAD) by 257.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 21,493 shares of the company’s stock after buying an additional 15,473 shares during the quarter. Algert Global LLC’s holdings in Lithia Motors were worth $5,426,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cadian Capital Management LP acquired a new stake in shares of Lithia Motors in the 4th quarter valued at $105,370,000. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Lithia Motors by 14.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,700,893 shares of the company’s stock valued at $429,390,000 after purchasing an additional 217,867 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Lithia Motors by 25.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,016,520 shares of the company’s stock valued at $256,621,000 after purchasing an additional 203,543 shares in the last quarter. Bridges Investment Management Inc. boosted its holdings in shares of Lithia Motors by 118.9% in the 2nd quarter. Bridges Investment Management Inc. now owns 160,860 shares of the company’s stock valued at $40,609,000 after purchasing an additional 87,362 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings 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 purchasing an additional 52,458 shares in the last quarter.

Lithia Motors Stock Up 1.8 %

Shares of NYSE:LAD opened at $320.83 on Monday. The firm has a market cap of $8.79 billion, a P/E ratio of 9.47, a P/E/G ratio of 0.30 and a beta of 1.64. The company has a quick ratio of 0.30, a current ratio of 1.19 and a debt-to-equity ratio of 1.26. Lithia Motors, Inc. has a 12-month low of $231.36 and a 12-month high of $331.96. The business has a fifty day simple moving average of $284.70 and a 200 day simple moving average of $271.90.

Lithia Motors (NYSE:LAD) last announced its earnings results on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.09 by $0.78. The business had revenue of $9.23 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $10.91 EPS. Analysts predict that Lithia Motors, Inc. will post 28.78 earnings per share for the current year.

Lithia Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.66%. The ex-dividend date was Friday, August 9th. Lithia Motors’s dividend payout ratio is currently 6.26%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley raised Lithia Motors from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $225.00 to $310.00 in a report on Wednesday, September 25th. StockNews.com cut Lithia Motors from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Citigroup increased their price target on Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Friday. The Goldman Sachs Group increased their price target on Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Stephens initiated coverage on Lithia Motors in a research note on Thursday, September 12th. They issued an “overweight” rating and a $360.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $338.00.

Insider Buying and Selling

In other news, Director Sidney B. Deboer sold 10,777 shares of Lithia Motors stock in a transaction dated 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 transaction, the director now directly owns 35,352 shares of the company’s stock, valued at approximately $9,754,677.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Shauna Mcintyre sold 306 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $289.65, for a total value of $88,632.90. Following the completion of the sale, the director now directly owns 1,922 shares in the company, valued at approximately $556,707.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sidney B. Deboer sold 10,777 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were 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 of the company’s stock, valued at $9,754,677.36. The disclosure for this sale can be found here. Insiders sold a total of 23,021 shares of company stock valued at $6,534,617 in the last three months. Insiders own 1.79% of the company’s stock.

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.