15,400 Shares in Lithia Motors, Inc. $LAD Acquired by Empyrean Capital Partners LP

Empyrean Capital Partners LP purchased a new position in Lithia Motors, Inc. (NYSE:LAD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 15,400 shares of the company’s stock, valued at approximately $5,118,000.

Other hedge funds also recently modified their holdings of the company. Clearstead Advisors LLC raised its holdings in shares of Lithia Motors by 111.4% in the 4th quarter. Clearstead Advisors LLC now owns 93 shares of the company’s stock worth $31,000 after purchasing an additional 49 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Lithia Motors in the 4th quarter worth approximately $34,000. Quarry LP raised its holdings in shares of Lithia Motors by 101.9% in the 4th quarter. Quarry LP now owns 109 shares of the company’s stock worth $36,000 after purchasing an additional 55 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Lithia Motors in the 4th quarter worth approximately $38,000. Finally, eCIO Inc. bought a new stake in shares of Lithia Motors in the 4th quarter worth approximately $42,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Zacks Research raised shares of Lithia Motors from a “strong sell” rating to a “hold” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of Lithia Motors from $320.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Wells Fargo & Company boosted their target price on shares of Lithia Motors from $293.00 to $305.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Barclays lowered their target price on shares of Lithia Motors from $380.00 to $370.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Finally, Weiss Ratings cut shares of Lithia Motors from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Lithia Motors currently has an average rating of “Moderate Buy” and an average price target of $368.11.

Insider Buying and Selling at Lithia Motors

In other news, Director Shauna Mcintyre sold 245 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $294.64, for a total value of $72,186.80. Following the transaction, the director owned 1,846 shares of the company’s stock, valued at approximately $543,905.44. This represents a 11.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard J. Bailey, Jr. sold 297 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $280.57, for a total transaction of $83,329.29. Following the completion of the transaction, the director directly owned 760 shares in the company, valued at approximately $213,233.20. The trade was a 28.10% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 782 shares of company stock worth $229,572. Insiders own 1.08% of the company’s stock.

Lithia Motors Trading Down 4.8%

Shares of LAD stock opened at $292.60 on Thursday. The company’s fifty day simple moving average is $284.05 and its two-hundred day simple moving average is $298.49. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.24. Lithia Motors, Inc. has a 1 year low of $239.78 and a 1 year high of $360.55. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 0.68 and a beta of 1.26.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, April 29th. The company reported $7.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.06 by $0.28. Lithia Motors had a net margin of 1.88% and a return on equity of 12.49%. The business had revenue of $9.27 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the firm posted $7.66 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts anticipate that Lithia Motors, Inc. will post 34.37 earnings per share for the current year.

Lithia Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.57 dividend. The ex-dividend date of this dividend was Friday, May 8th. This is an increase from Lithia Motors’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 0.8%. Lithia Motors’s payout ratio is currently 8.01%.

Lithia Motors declared that its board has authorized a stock repurchase program on Tuesday, May 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 7.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Lithia Motors Company 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.