Caitong International Asset Management Co. Ltd Reduces Stock Position in Lithia Motors, Inc. $LAD

Caitong International Asset Management Co. Ltd reduced its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 81.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 89 shares of the company’s stock after selling 397 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Lithia Motors were worth $30,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Lithia Motors by 1.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,421 shares of the company’s stock valued at $711,000 after buying an additional 35 shares in the last quarter. Red Spruce Capital LLC increased its holdings in Lithia Motors by 0.6% during the 2nd quarter. Red Spruce Capital LLC now owns 7,880 shares of the company’s stock worth $2,662,000 after acquiring an additional 44 shares during the period. CWM LLC increased its holdings in Lithia Motors by 30.1% during the 1st quarter. CWM LLC now owns 212 shares of the company’s stock worth $62,000 after acquiring an additional 49 shares during the period. UMB Bank n.a. increased its holdings in Lithia Motors by 29.1% during the 2nd quarter. UMB Bank n.a. now owns 262 shares of the company’s stock worth $89,000 after acquiring an additional 59 shares during the period. Finally, Inspire Investing LLC increased its holdings in Lithia Motors by 4.6% during the 2nd quarter. Inspire Investing LLC now owns 1,434 shares of the company’s stock worth $485,000 after acquiring an additional 63 shares during the period.

Lithia Motors Stock Up 2.2%

Shares of NYSE:LAD opened at $332.01 on Monday. Lithia Motors, Inc. has a 52-week low of $262.10 and a 52-week high of $405.67. The firm has a fifty day moving average of $323.26 and a 200 day moving average of $317.05. The firm has a market capitalization of $8.51 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 0.69 and a beta of 1.28. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.30 and a current ratio of 1.21.

Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, October 22nd. The company reported $9.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $0.97. Lithia Motors had a net margin of 2.39% and a return on equity of 13.42%. The company had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.38 billion. During the same period in the previous year, the business earned $8.21 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors declared that its board has approved a stock buyback plan on Tuesday, August 26th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Lithia Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Friday, November 7th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. Lithia Motors’s dividend payout ratio (DPR) is currently 6.37%.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 256 shares of the stock in a transaction 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 trade represents a 15.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

LAD has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating on shares of Lithia Motors in a report on Thursday. Jefferies Financial Group initiated coverage on shares of Lithia Motors in a report on Thursday, September 4th. They set a “buy” rating and a $400.00 target price on the stock. 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 report on Tuesday, August 5th. Guggenheim decreased their target price on shares of Lithia Motors from $383.00 to $380.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Finally, Bank of America decreased their target price on shares of Lithia Motors from $500.00 to $385.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $378.33.

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.