Fox Run Management L.L.C. Buys 3,860 Shares of Lithia Motors, Inc. $LAD

Fox Run Management L.L.C. increased its stake in Lithia Motors, Inc. (NYSE:LAD) by 420.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,778 shares of the company’s stock after buying an additional 3,860 shares during the period. Fox Run Management L.L.C.’s holdings in Lithia Motors were worth $1,588,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clearstead Advisors LLC grew its holdings in Lithia Motors by 111.4% in the fourth quarter. Clearstead Advisors LLC now owns 93 shares of the company’s stock worth $31,000 after purchasing an additional 49 shares during the period. V Square Quantitative Management LLC purchased a new stake in Lithia Motors in the fourth quarter worth about $34,000. Los Angeles Capital Management LLC purchased a new stake in Lithia Motors in the fourth quarter worth about $38,000. eCIO Inc. purchased a new stake in Lithia Motors in the fourth quarter worth about $42,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in Lithia Motors in the fourth quarter worth about $50,000.

Lithia Motors Trading Up 1.2%

NYSE:LAD opened at $292.16 on Tuesday. The company’s 50 day moving average price is $276.30 and its 200-day moving average price is $298.49. Lithia Motors, Inc. has a 52 week low of $239.78 and a 52 week high of $360.55. The company has a quick ratio of 0.24, a current ratio of 0.99 and a debt-to-equity ratio of 1.41. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 0.64 and a beta of 1.26.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, April 29th. The company reported $7.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.06 by $0.28. Lithia Motors had a net margin of 1.88% and a return on equity of 12.49%. The company had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the company posted $7.66 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that Lithia Motors, Inc. will post 34.37 earnings per share for the current fiscal year.

Lithia Motors declared that its board has authorized a stock buyback program on Tuesday, May 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 7.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Lithia Motors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a $0.57 dividend. This is an increase from Lithia Motors’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, May 8th. Lithia Motors’s dividend payout ratio is 8.01%.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 245 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $294.64, for a total value of $72,186.80. Following the sale, the director owned 1,846 shares in the company, valued at approximately $543,905.44. This trade represents a 11.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard J. Bailey, Jr. sold 297 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $280.57, for a total transaction of $83,329.29. Following the completion of the sale, the director owned 760 shares in the company, valued at $213,233.20. This represents a 28.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 617 shares of company stock worth $174,966 in the last 90 days. 1.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on LAD. JPMorgan Chase & Co. upped their price objective on shares of Lithia Motors from $320.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings cut shares of Lithia Motors from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Wells Fargo & Company increased their price target on shares of Lithia Motors from $293.00 to $305.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, Citigroup increased their price target on shares of Lithia Motors from $326.00 to $365.00 and gave the company a “buy” rating in a report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lithia Motors presently has an average rating of “Moderate Buy” and an average price target of $368.11.

About Lithia Motors

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.