Financial Strategies Group Inc. Boosts Stock Holdings in Lithia Motors, Inc. $LAD

Financial Strategies Group Inc. grew its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 27.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,174 shares of the company’s stock after purchasing an additional 470 shares during the quarter. Financial Strategies Group Inc.’s holdings in Lithia Motors were worth $632,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. purchased a new position in shares of Lithia Motors during the 1st quarter valued at approximately $59,000. UMB Bank n.a. increased its holdings in Lithia Motors by 63.7% in the 1st quarter. UMB Bank n.a. now owns 203 shares of the company’s stock worth $60,000 after acquiring an additional 79 shares in the last quarter. 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 worth $62,000 after acquiring an additional 49 shares in the last quarter. GAMMA Investing LLC increased its holdings in Lithia Motors by 50.9% in the 1st quarter. GAMMA Investing LLC now owns 252 shares of the company’s stock worth $74,000 after acquiring an additional 85 shares in the last quarter. Finally, Quarry LP purchased a new stake in Lithia Motors in the 1st quarter worth $136,000.

Lithia Motors Trading Up 0.3%

Shares of LAD opened at $341.10 on Friday. Lithia Motors, Inc. has a 52-week low of $255.32 and a 52-week high of $405.67. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 1.24. The firm’s fifty day moving average is $320.73 and its two-hundred day moving average is $313.87. The stock has a market cap of $8.74 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.53 and a beta of 1.31.

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

Lithia Motors Announces Dividend

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

Lithia Motors declared that its Board of Directors has authorized 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 buy up to 9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently commented on LAD. Guggenheim cut their price target on shares of Lithia Motors from $383.00 to $380.00 and set a “buy” rating for the company in a report on Monday, August 11th. Bank of America boosted their price target on shares of Lithia Motors from $430.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, June 16th. The Goldman Sachs Group began coverage on shares of Lithia Motors in a report on Tuesday, June 3rd. They issued a “neutral” rating and a $340.00 price target for the company. JPMorgan Chase & Co. cut their price target on shares of Lithia Motors from $335.00 to $315.00 and set an “overweight” rating for the company in a report on Tuesday, August 5th. Finally, Jefferies Financial Group started coverage on shares of Lithia Motors in a report on Thursday. They issued a “buy” rating and a $400.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Lithia Motors currently has a consensus rating of “Moderate Buy” and an average price target of $380.91.

Insider Buying and Selling at Lithia Motors

In other news, Director Shauna Mcintyre sold 256 shares of the business’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 owned 1,376 shares of the company’s stock, valued at approximately $403,236.80. The trade was a 15.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

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.