AQR Capital Management LLC Increases Position in Lithia Motors, Inc. $LAD

AQR Capital Management LLC grew its holdings in Lithia Motors, Inc. (NYSE:LAD) by 2,082.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 19,509 shares of the company’s stock after buying an additional 18,615 shares during the period. AQR Capital Management LLC owned 0.07% of Lithia Motors worth $5,560,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. NBC Securities Inc. acquired a new position in shares of Lithia Motors during the first quarter worth about $59,000. UMB Bank n.a. increased its stake in shares of Lithia Motors by 63.7% during the first quarter. UMB Bank n.a. now owns 203 shares of the company’s stock worth $60,000 after acquiring an additional 79 shares during the period. CWM LLC increased its stake in shares of Lithia Motors by 30.1% during the first quarter. CWM LLC now owns 212 shares of the company’s stock worth $62,000 after acquiring an additional 49 shares during the period. GAMMA Investing LLC increased its stake in shares of Lithia Motors by 50.9% during the first quarter. GAMMA Investing LLC now owns 252 shares of the company’s stock worth $74,000 after acquiring an additional 85 shares during the period. Finally, Quarry LP acquired a new position in shares of Lithia Motors during the first quarter worth about $136,000.

Lithia Motors Stock Down 2.8%

Shares of NYSE LAD opened at $334.34 on Friday. Lithia Motors, Inc. has a 12-month low of $262.10 and a 12-month high of $405.67. The company has a market capitalization of $8.57 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 0.70 and a beta of 1.31. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 0.29. The firm’s 50-day moving average is $319.94 and its two-hundred day moving average is $313.74.

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

Lithia Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid 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 0.7%. Lithia Motors’s dividend payout ratio is presently 6.52%.

Lithia Motors declared that its Board of Directors has initiated 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 reacquire up to 9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Lithia Motors from $364.00 to $317.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lowered their target price on shares of Lithia Motors from $335.00 to $315.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 5th. Bank of America lowered their target price on shares of Lithia Motors from $500.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday. Citigroup upped their target price on shares of Lithia Motors from $378.00 to $383.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, Guggenheim lowered their target price on shares of Lithia Motors from $383.00 to $380.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Lithia Motors presently has a consensus rating of “Moderate Buy” and a consensus target price of $370.45.

Insider Activity

In related news, Director Shauna Mcintyre sold 256 shares of the company’s stock in a transaction that occurred on 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. This represents a 15.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.87% 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.