Southpoint Capital Advisors LP Has $213.09 Million Position in Lithia Motors, Inc. (NYSE:LAD)

Southpoint Capital Advisors LP cut its stake in Lithia Motors, Inc. (NYSE:LAD) by 5.0% in the first quarter, HoldingsChannel reports. The fund owned 546,250 shares of the company’s stock after selling 28,750 shares during the period. Lithia Motors accounts for 3.5% of Southpoint Capital Advisors LP’s holdings, making the stock its 8th largest position. Southpoint Capital Advisors LP’s holdings in Lithia Motors were worth $213,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Asset Advisory Services LLC bought a new position in shares of Lithia Motors in the fourth quarter worth about $25,000. TCI Wealth Advisors Inc. grew its position in shares of Lithia Motors by 133.3% during the 1st quarter. TCI Wealth Advisors Inc. now owns 84 shares of the company’s stock worth $33,000 after buying an additional 48 shares during the period. Tobam acquired a new stake in shares of Lithia Motors during the 1st quarter worth approximately $36,000. CWM LLC grew its position in shares of Lithia Motors by 228.9% during the 1st quarter. CWM LLC now owns 148 shares of the company’s stock worth $58,000 after buying an additional 103 shares during the period. Finally, Carroll Financial Associates Inc. grew its position in shares of Lithia Motors by 1,146.7% during the 1st quarter. Carroll Financial Associates Inc. now owns 187 shares of the company’s stock worth $72,000 after buying an additional 172 shares during the period. 94.79% of the stock is owned by institutional investors.

NYSE LAD traded up $5.55 on Thursday, hitting $376.68. 7,544 shares of the stock were exchanged, compared to its average volume of 488,693. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.26 and a quick ratio of 0.37. The business has a fifty day simple moving average of $344.10. Lithia Motors, Inc. has a 52 week low of $189.20 and a 52 week high of $417.98. The stock has a market capitalization of $10.04 billion, a P/E ratio of 16.09, a PEG ratio of 0.71 and a beta of 1.80.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Tuesday, July 20th. The company reported $11.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.17 by $4.95. Lithia Motors had a net margin of 3.96% and a return on equity of 25.27%. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same period in the prior year, the firm posted $3.72 earnings per share. The company’s quarterly revenue was up 117.8% compared to the same quarter last year. On average, equities analysts expect that Lithia Motors, Inc. will post 24.72 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 27th. Shareholders of record on Friday, August 13th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, August 12th. Lithia Motors’s dividend payout ratio (DPR) is currently 7.70%.

LAD has been the subject of several analyst reports. Guggenheim lifted their price target on shares of Lithia Motors from $462.00 to $465.00 and gave the stock a “buy” rating in a research report on Thursday, April 22nd. Zacks Investment Research upgraded shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $449.00 price target for the company in a report on Monday, April 26th. Bank of America upped their price target on shares of Lithia Motors from $460.00 to $467.00 and gave the company a “buy” rating in a report on Friday, July 16th. Craig Hallum upped their price target on shares of Lithia Motors from $500.00 to $520.00 and gave the company a “buy” rating in a report on Thursday. Finally, Morgan Stanley upped their price target on shares of Lithia Motors from $310.00 to $320.00 and gave the company an “underweight” rating in a report on Friday, April 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $373.17.

About Lithia Motors

Lithia Motors, Inc operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Luxury. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells vehicle body and parts.

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Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

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