AQR Capital Management LLC Has $645,000 Position in Lithia Motors, Inc. (NYSE:LAD)

AQR Capital Management LLC lifted its stake in shares of Lithia Motors, Inc. (NYSE:LAD) by 25.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,565 shares of the company’s stock after buying an additional 520 shares during the period. AQR Capital Management LLC’s holdings in Lithia Motors were worth $645,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Lithia Motors during the second quarter worth about $80,000. HITE Hedge Asset Management LLC bought a new position in Lithia Motors during the 2nd quarter valued at approximately $509,000. Point72 DIFC Ltd purchased a new stake in shares of Lithia Motors in the 2nd quarter worth approximately $143,000. Marshall Wace LLP purchased a new stake in Lithia Motors during the 2nd quarter valued at $6,702,000. Finally, Bank of Montreal Can raised its holdings in Lithia Motors by 1,502.3% in the 2nd quarter. Bank of Montreal Can now owns 48,919 shares of the company’s stock worth $12,445,000 after purchasing an additional 45,866 shares during the period.

Insider Buying and Selling

In related news, Director Sidney B. Deboer sold 11,938 shares of Lithia Motors 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 sale, the director now directly owns 46,129 shares in the company, valued at $13,417,080.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Lithia Motors news, Director Sidney B. Deboer sold 10,777 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $275.93, for a total value of $2,973,697.61. Following the sale, the director now owns 35,352 shares of the company’s stock, valued at $9,754,677.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sidney B. Deboer sold 11,938 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 46,129 shares in the company, valued at $13,417,080.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,021 shares of company stock valued at $6,534,617. Company insiders own 1.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Stephens assumed coverage on Lithia Motors in a report on Thursday, September 12th. They issued an “overweight” rating and a $360.00 target price on the stock. Bank of America raised their price objective on Lithia Motors from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. The Goldman Sachs Group lifted their price target on Lithia Motors from $300.00 to $335.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Guggenheim upgraded Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 price target for the company in a research report on Friday, August 9th. Finally, Wells Fargo & Company lifted their price target 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $338.00.

Lithia Motors Stock Performance

Shares of NYSE:LAD opened at $305.45 on Monday. The firm has a 50 day moving average of $292.93 and a 200 day moving average of $272.95. The company has a market capitalization of $8.37 billion, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 0.30 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. 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 results on Thursday, August 1st. The company reported $7.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.09 by $0.78. The business had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.29 billion. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $10.91 earnings per share. On average, sell-side analysts predict that Lithia Motors, Inc. will post 28.74 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.53 per share. The ex-dividend date was Friday, August 9th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.69%. Lithia Motors’s payout ratio is currently 6.26%.

Lithia Motors 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.