Boothbay Fund Management LLC Takes $7.79 Million Position in Lithia Motors, Inc. $LAD

Boothbay Fund Management LLC purchased a new position in shares of Lithia Motors, Inc. (NYSE:LAD) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,647 shares of the company’s stock, valued at approximately $7,788,000. Boothbay Fund Management LLC owned about 0.10% of Lithia Motors at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Lithia Motors during the 2nd quarter worth $148,540,000. Hennessy Advisors Inc. acquired a new position in shares of Lithia Motors in the 3rd quarter valued at $39,342,000. Hook Mill Capital Partners LP acquired a new position in shares of Lithia Motors in the 3rd quarter valued at $29,130,000. River Road Asset Management LLC boosted its position in shares of Lithia Motors by 26.4% in the 2nd quarter. River Road Asset Management LLC now owns 412,516 shares of the company’s stock worth $139,356,000 after purchasing an additional 86,121 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Lithia Motors by 57.5% during the second quarter. Bank of America Corp DE now owns 197,417 shares of the company’s stock worth $66,691,000 after purchasing an additional 72,061 shares during the period.

Lithia Motors Stock Down 0.4%

Shares of LAD stock opened at $254.90 on Monday. The firm has a fifty day moving average of $308.23 and a 200-day moving average of $317.34. Lithia Motors, Inc. has a 12-month low of $251.00 and a 12-month high of $360.55. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 7.93, a P/E/G ratio of 0.58 and a beta of 1.21. The company has a quick ratio of 0.26, a current ratio of 1.17 and a debt-to-equity ratio of 1.46.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $6.74 EPS for the quarter, missing analysts’ consensus estimates of $8.09 by ($1.35). Lithia Motors had a net margin of 2.18% and a return on equity of 12.76%. The firm had revenue of $9.20 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the firm earned $7.79 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities research analysts predict that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, March 6th. This represents a $2.20 annualized dividend and a yield of 0.9%. Lithia Motors’s dividend payout ratio is presently 6.85%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LAD shares. Citigroup dropped their price objective on Lithia Motors from $399.00 to $366.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Wells Fargo & Company reduced their target price on Lithia Motors from $358.00 to $355.00 and set an “equal weight” rating on the stock in a report on Thursday, February 12th. Evercore boosted their target price on Lithia Motors from $440.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, November 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lithia Motors in a research report on Thursday, January 22nd. Finally, Bank of America started coverage on shares of Lithia Motors in a research note on Wednesday, March 4th. They set a “neutral” rating on the stock. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Lithia Motors currently has a consensus rating of “Moderate Buy” and an average price target of $382.33.

Lithia Motors Profile

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.