Mackenzie Financial Corp Takes $211,000 Position in Lithia Motors, Inc. (NYSE:LAD)

Mackenzie Financial Corp acquired a new stake in Lithia Motors, Inc. (NYSE:LAD) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 835 shares of the company’s stock, valued at approximately $211,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position in shares of Lithia Motors by 24.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 49,797 shares of the company’s stock worth $16,397,000 after purchasing an additional 9,818 shares during the period. BNP Paribas Financial Markets boosted its position in Lithia Motors by 132.9% during the 1st quarter. BNP Paribas Financial Markets now owns 19,138 shares of the company’s stock valued at $5,758,000 after acquiring an additional 10,920 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Lithia Motors during the 2nd quarter valued at $607,000. Comerica Bank raised its position in shares of Lithia Motors by 89.0% in the 1st quarter. Comerica Bank now owns 29,473 shares of the company’s stock worth $8,867,000 after acquiring an additional 13,875 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Lithia Motors by 11.2% during the 1st quarter. Russell Investments Group Ltd. now owns 203,062 shares of the company’s stock worth $61,318,000 after purchasing an additional 20,416 shares during the last quarter.

Insider Buying and Selling

In other Lithia Motors news, Director Shauna Mcintyre sold 306 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $289.65, for a total transaction of $88,632.90. Following the transaction, the director now directly owns 1,922 shares of the company’s stock, valued at $556,707.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Lithia Motors news, Director Sidney B. Deboer sold 10,777 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $275.93, for a total transaction of $2,973,697.61. Following the completion of the sale, the director now directly owns 35,352 shares in the company, valued at approximately $9,754,677.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shauna Mcintyre sold 306 shares of the 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 transaction, the director now directly owns 1,922 shares of the company’s stock, valued at $556,707.30. The trade was 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. 1.79% of the stock is owned by corporate insiders.

Lithia Motors Trading Down 1.8 %

Lithia Motors stock opened at $304.79 on Tuesday. Lithia Motors, Inc. has a 52 week low of $231.36 and a 52 week high of $331.96. The stock has a 50-day moving average price of $291.11 and a 200 day moving average price of $272.80. 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 company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 0.30 and a beta of 1.64.

Lithia Motors (NYSE:LAD) last posted its earnings results on Thursday, August 1st. The company reported $7.87 EPS for the quarter, topping the consensus estimate of $7.09 by $0.78. The firm had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.29 billion. Lithia Motors had a return on equity of 13.84% and a net margin of 2.52%. Lithia Motors’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the company earned $10.91 earnings per share. Sell-side analysts anticipate that Lithia Motors, Inc. will post 28.78 EPS for the current year.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.53 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.12 dividend on an annualized basis and a yield of 0.70%. Lithia Motors’s dividend payout ratio is currently 6.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LAD. Guggenheim upgraded shares of Lithia Motors from a “neutral” rating to a “buy” rating and set a $338.00 target price for the company in a report on Friday, August 9th. StockNews.com cut shares of Lithia Motors from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Citigroup lifted their price target on shares of Lithia Motors from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. JPMorgan Chase & Co. increased their price objective on Lithia Motors from $315.00 to $375.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Company boosted their target price on Lithia Motors from $266.00 to $302.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Lithia Motors has an average rating of “Hold” and an average target price of $338.00.

About Lithia Motors

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.