Beck Bode LLC Purchases Shares of 4,022 Lithia Motors, Inc. $LAD

Beck Bode LLC purchased a new stake in Lithia Motors, Inc. (NYSE:LAD) during the first quarter, HoldingsChannel.com reports. The fund purchased 4,022 shares of the company’s stock, valued at approximately $1,181,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vident Advisory LLC increased its holdings in Lithia Motors by 4.3% in the 4th quarter. Vident Advisory LLC now owns 780 shares of the company’s stock valued at $279,000 after acquiring an additional 32 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Lithia Motors by 1.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,421 shares of the company’s stock valued at $711,000 after acquiring an additional 35 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in Lithia Motors by 5.6% in the 4th quarter. Benjamin Edwards Inc. now owns 700 shares of the company’s stock valued at $250,000 after acquiring an additional 37 shares during the last quarter. Mariner LLC increased its holdings in Lithia Motors by 2.9% in the 4th quarter. Mariner LLC now owns 1,475 shares of the company’s stock valued at $527,000 after acquiring an additional 42 shares during the last quarter. Finally, CWM LLC increased its holdings in Lithia Motors by 30.1% in the 1st quarter. CWM LLC now owns 212 shares of the company’s stock valued at $62,000 after acquiring an additional 49 shares during the last quarter.

Analyst Upgrades and Downgrades

LAD has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of Lithia Motors from $335.00 to $315.00 and set an “overweight” rating on the stock in a report on Tuesday, August 5th. The Goldman Sachs Group began coverage on shares of Lithia Motors in a research note on Tuesday, June 3rd. They issued a “neutral” rating and a $340.00 price objective for the company. Bank of America lifted their price objective on shares of Lithia Motors from $430.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday, June 16th. Wells Fargo & Company dropped their price objective on shares of Lithia Motors from $364.00 to $317.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 30th. Finally, Citigroup lifted their price objective on shares of Lithia Motors from $378.00 to $383.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $379.00.

Insider Buying and Selling

In related news, Director Shauna Mcintyre sold 256 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $293.05, for a total transaction of $75,020.80. Following the transaction, the director directly owned 1,376 shares in the company, valued at approximately $403,236.80. This represents a 15.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

Lithia Motors Stock Performance

Shares of NYSE:LAD opened at $340.36 on Thursday. The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 0.51 and a beta of 1.30. Lithia Motors, Inc. has a 12 month low of $255.32 and a 12 month high of $405.67. The firm’s 50-day moving average is $320.21 and its 200 day moving average is $316.20. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $10.24 EPS for the quarter, beating the consensus estimate of $9.78 by $0.46. The company had revenue of $9.58 billion for the quarter, compared to the consensus estimate of $9.56 billion. Lithia Motors had a net margin of 2.39% and a return on equity of 13.21%. Research analysts predict that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, August 8th. Lithia Motors’s dividend payout ratio is presently 6.52%.

Lithia Motors declared that its Board of Directors has approved a stock repurchase plan on Tuesday, August 26th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.