Voya Investment Management LLC Has $4.81 Million Stake in Lithia Motors, Inc. $LAD

Voya Investment Management LLC raised its holdings in Lithia Motors, Inc. (NYSE:LAD) by 124.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,392 shares of the company’s stock after acquiring an additional 9,083 shares during the period. Voya Investment Management LLC owned about 0.06% of Lithia Motors worth $4,812,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. eCIO Inc. acquired a new position in Lithia Motors in the first quarter valued at about $55,000. NBC Securities Inc. bought a new stake in shares of Lithia Motors in the first quarter valued at about $59,000. UMB Bank n.a. lifted its holdings in shares of Lithia Motors by 63.7% in the first quarter. UMB Bank n.a. now owns 203 shares of the company’s stock valued at $60,000 after purchasing an additional 79 shares in the last quarter. CWM LLC lifted its holdings in shares of Lithia Motors by 30.1% in the first quarter. CWM LLC now owns 212 shares of the company’s stock valued at $62,000 after purchasing an additional 49 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Lithia Motors by 50.9% in the first quarter. GAMMA Investing LLC now owns 252 shares of the company’s stock valued at $74,000 after purchasing an additional 85 shares in the last quarter.

Lithia Motors Stock Performance

LAD opened at $337.76 on Friday. Lithia Motors, Inc. has a 52-week low of $262.10 and a 52-week high of $405.67. The firm has a market capitalization of $8.66 billion, a PE ratio of 10.01, a PEG ratio of 0.67 and a beta of 1.31. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.29 and a current ratio of 1.22. The business’s 50-day simple moving average is $318.65 and its 200 day simple moving average is $313.58.

Lithia Motors (NYSE:LAD) last released its earnings results on Tuesday, July 29th. The company reported $10.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.78 by $0.46. Lithia Motors had a return on equity of 13.21% and a net margin of 2.39%.The business had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.56 billion. As a group, sell-side analysts expect that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.55 dividend. The ex-dividend date was Friday, August 8th. This represents a $2.20 annualized dividend and a yield of 0.7%. Lithia Motors’s dividend payout ratio is currently 6.52%.

Lithia Motors announced that its board has initiated a stock repurchase plan on Tuesday, August 26th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on LAD shares. Jefferies Financial Group started coverage on Lithia Motors in a report on Thursday, September 4th. They issued a “buy” rating and a $400.00 price target on the stock. Wells Fargo & Company cut their price target on Lithia Motors from $364.00 to $317.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 30th. The Goldman Sachs Group started coverage on Lithia Motors in a report on Tuesday, June 3rd. They issued a “neutral” rating and a $340.00 price target on the stock. Bank of America cut their price target on Lithia Motors from $500.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Finally, Citigroup boosted their price target on Lithia Motors from $378.00 to $383.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned 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 a consensus price target of $370.45.

Insider Transactions 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 value of $75,020.80. Following the sale, the director owned 1,376 shares in the company, valued at $403,236.80. This represents a 15.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is owned by corporate insiders.

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.