Forum Financial Management LP Purchases 192 Shares of Lithia Motors, Inc. $LAD

Forum Financial Management LP grew its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 27.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 881 shares of the company’s stock after purchasing an additional 192 shares during the period. Forum Financial Management LP’s holdings in Lithia Motors were worth $298,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Lithia Motors during the second quarter worth about $1,622,000. Praxis Investment Management Inc. bought a new stake in Lithia Motors during the second quarter worth about $220,000. Bridges Investment Management Inc. lifted its stake in Lithia Motors by 5.9% during the second quarter. Bridges Investment Management Inc. now owns 255,599 shares of the company’s stock worth $86,346,000 after purchasing an additional 14,179 shares during the last quarter. New York State Teachers Retirement System lifted its stake in shares of Lithia Motors by 8.0% in the 2nd quarter. New York State Teachers Retirement System now owns 34,582 shares of the company’s stock valued at $11,682,000 after acquiring an additional 2,564 shares during the last quarter. Finally, Bayforest Capital Ltd lifted its stake in shares of Lithia Motors by 37.4% in the 2nd quarter. Bayforest Capital Ltd now owns 1,721 shares of the company’s stock valued at $581,000 after acquiring an additional 468 shares during the last quarter.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 256 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $293.05, for a total transaction of $75,020.80. Following the transaction, the director owned 1,376 shares in the company, valued at approximately $403,236.80. This represents a 15.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

Lithia Motors Stock Up 2.2%

LAD stock opened at $332.01 on Monday. Lithia Motors, Inc. has a fifty-two week low of $262.10 and a fifty-two week high of $405.67. The business’s 50 day moving average price is $323.26 and its two-hundred day moving average price is $317.05. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.30 and a current ratio of 1.21. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 0.69 and a beta of 1.28.

Lithia Motors (NYSE:LAD) last posted its earnings results on Wednesday, October 22nd. The company reported $9.50 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.97. Lithia Motors had a return on equity of 13.42% and a net margin of 2.39%.The firm had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $9.38 billion. During the same quarter in the prior year, the business earned $8.21 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts forecast that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors declared that its board has authorized a share repurchase program on Tuesday, August 26th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the company to buy up to 9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Lithia Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Friday, November 7th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, November 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. Lithia Motors’s dividend payout ratio is 6.37%.

Wall Street Analysts Forecast Growth

LAD has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Lithia Motors in a research note on Saturday. Wells Fargo & Company boosted their target price on Lithia Motors from $317.00 to $327.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Citigroup boosted their target price on Lithia Motors from $378.00 to $383.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Guggenheim lowered their target price on Lithia Motors from $383.00 to $380.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Finally, JPMorgan Chase & Co. boosted their target price on Lithia Motors from $320.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Lithia Motors has a consensus rating of “Moderate Buy” and an average price target of $378.33.

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.