Lithia Motors, Inc. (NYSE:LAD) Stake Decreased by MFN Partners Management LP

MFN Partners Management LP lowered its stake in shares of Lithia Motors, Inc. (NYSE:LAD) by 42.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 890,000 shares of the company’s stock after selling 661,077 shares during the quarter. Lithia Motors makes up approximately 7.6% of MFN Partners Management LP’s portfolio, making the stock its 6th largest holding. MFN Partners Management LP’s holdings in Lithia Motors were worth $224,680,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LAD. Vanguard Group Inc. grew its position in shares of Lithia Motors by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,823,369 shares of the company’s stock valued at $929,679,000 after acquiring an additional 15,962 shares during the period. Dimensional Fund Advisors LP grew its holdings in Lithia Motors by 25.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,016,520 shares of the company’s stock valued at $256,621,000 after purchasing an additional 203,543 shares during the period. Canada Pension Plan Investment Board increased its position in Lithia Motors by 7.2% in the first quarter. Canada Pension Plan Investment Board now owns 727,849 shares of the company’s stock worth $218,981,000 after buying an additional 48,938 shares during the last quarter. Norges Bank purchased a new stake in Lithia Motors in the fourth quarter worth $123,976,000. Finally, Cadian Capital Management LP bought a new stake in shares of Lithia Motors in the fourth quarter valued at $105,370,000.

Insider Activity at Lithia Motors

In other Lithia Motors news, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the completion of the sale, the director now owns 46,129 shares of the company’s stock, valued at $13,417,080.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Shauna Mcintyre sold 306 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $289.65, for a total value of $88,632.90. Following the completion of the sale, the director now directly owns 1,922 shares in the company, valued at approximately $556,707.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sidney B. Deboer sold 11,938 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $290.86, for a total transaction of $3,472,286.68. Following the transaction, the director now directly owns 46,129 shares in the company, valued at approximately $13,417,080.94. The disclosure for this sale can be found here. Insiders have sold a total of 23,021 shares of company stock valued at $6,534,617 over the last 90 days. 1.79% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Lithia Motors from $300.00 to $335.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Bank of America boosted their price target on shares of Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. StockNews.com downgraded shares of Lithia Motors from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Wells Fargo & Company increased their target price on Lithia Motors from $266.00 to $302.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Lithia Motors from $315.00 to $375.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $326.00.

Lithia Motors Price Performance

Lithia Motors stock opened at $283.90 on Wednesday. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 0.26 and a beta of 1.64. The company has a quick ratio of 0.30, a current ratio of 1.19 and a debt-to-equity ratio of 1.26. The business has a 50-day simple moving average of $277.49 and a 200 day simple moving average of $270.96. Lithia Motors, Inc. has a 52 week low of $231.36 and a 52 week high of $331.96.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Thursday, August 1st. The company reported $7.87 EPS for the quarter, topping the consensus estimate of $7.09 by $0.78. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The company had revenue of $9.23 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the firm earned $10.91 earnings per share. Lithia Motors’s revenue was up 13.8% on a year-over-year basis. On average, research analysts forecast that Lithia Motors, Inc. will post 28.89 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.12 annualized dividend and a yield of 0.75%. Lithia Motors’s dividend payout ratio (DPR) is presently 6.26%.

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.