Brandywine Global Investment Management LLC Boosts Position in Lithia Motors, Inc. (NYSE:LAD)

Brandywine Global Investment Management LLC increased its stake in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 96.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,408 shares of the company's stock after purchasing an additional 8,041 shares during the period. Brandywine Global Investment Management LLC owned 0.06% of Lithia Motors worth $5,865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Lithia Motors during the fourth quarter worth $152,752,000. Royal London Asset Management Ltd. boosted its position in Lithia Motors by 18.0% during the fourth quarter. Royal London Asset Management Ltd. now owns 362,022 shares of the company's stock worth $129,398,000 after acquiring an additional 55,142 shares during the last quarter. Egerton Capital UK LLP purchased a new stake in Lithia Motors during the 4th quarter valued at about $113,250,000. Tensile Capital Management LP raised its holdings in Lithia Motors by 2.4% in the 3rd quarter. Tensile Capital Management LP now owns 261,527 shares of the company's stock valued at $83,071,000 after acquiring an additional 6,252 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Lithia Motors by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 259,916 shares of the company's stock worth $82,560,000 after purchasing an additional 37,677 shares in the last quarter.

Insider Activity at Lithia Motors

In other news, insider Gary M. Glandon sold 325 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $387.86, for a total transaction of $126,054.50. Following the completion of the transaction, the insider now directly owns 1,665 shares of the company's stock, valued at approximately $645,786.90. The trade was a 16.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Adam Chamberlain sold 403 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $384.28, for a total transaction of $154,864.84. Following the sale, the chief operating officer now owns 2,605 shares in the company, valued at $1,001,049.40. The trade was a 13.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,246 shares of company stock worth $433,724. Corporate insiders own 0.87% of the company's stock.

Remove Ads

Lithia Motors Trading Down 0.4 %

Lithia Motors stock traded down $1.01 during trading on Friday, hitting $281.31. The company had a trading volume of 583,799 shares, compared to its average volume of 307,866. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.22. The company's 50 day simple moving average is $334.52 and its 200-day simple moving average is $343.74. Lithia Motors, Inc. has a 1-year low of $243.00 and a 1-year high of $405.68. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 9.48, a price-to-earnings-growth ratio of 4.65 and a beta of 1.61.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $7.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.33 by $0.46. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. As a group, analysts expect that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, March 7th. Lithia Motors's payout ratio is 7.14%.

Wall Street Analysts Forecast Growth

LAD has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Lithia Motors from $346.00 to $397.00 and gave the company an "equal weight" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their target price on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. StockNews.com raised shares of Lithia Motors from a "sell" rating to a "hold" rating in a research report on Tuesday, January 14th. Benchmark reissued a "buy" rating and issued a $400.00 price objective on shares of Lithia Motors in a report on Thursday, February 20th. Finally, Evercore ISI lifted their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $365.91.

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.