Menta Capital LLC purchased a new stake in Lithia Motors Inc (NYSE:LAD) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,720 shares of the company’s stock, valued at approximately $1,273,000. Lithia Motors accounts for about 0.5% of Menta Capital LLC’s portfolio, making the stock its 16th biggest position.
Other institutional investors and hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in shares of Lithia Motors by 26.6% during the second quarter. Janus Henderson Group PLC now owns 2,839 shares of the company’s stock worth $337,000 after purchasing an additional 597 shares during the period. JPMorgan Chase & Co. lifted its holdings in Lithia Motors by 15.6% in the second quarter. JPMorgan Chase & Co. now owns 575,896 shares of the company’s stock valued at $68,957,000 after buying an additional 77,705 shares during the period. Advisors Preferred LLC acquired a new position in Lithia Motors in the second quarter valued at $37,000. State Board of Administration of Florida Retirement System lifted its holdings in Lithia Motors by 4.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 9,144 shares of the company’s stock valued at $1,086,000 after buying an additional 350 shares during the period. Finally, Magnus Financial Group LLC acquired a new position in Lithia Motors in the second quarter valued at $212,000.
LAD traded down $2.96 during midday trading on Tuesday, hitting $126.09. The company had a trading volume of 6,029 shares, compared to its average volume of 216,150. Lithia Motors Inc has a 52 week low of $67.90 and a 52 week high of $139.18. The company has a quick ratio of 0.23, a current ratio of 1.16 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.95 and a beta of 1.11. The stock’s 50 day moving average price is $126.34 and its 200 day moving average price is $108.98.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Thursday, August 8th. Lithia Motors’s payout ratio is presently 12.02%.
LAD has been the topic of several recent analyst reports. Craig Hallum boosted their target price on shares of Lithia Motors from $125.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, July 25th. ValuEngine lowered shares of Lithia Motors from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Longbow Research restated a “buy” rating and issued a $132.00 target price on shares of Lithia Motors in a report on Sunday, July 7th. JPMorgan Chase & Co. lifted their price target on shares of Lithia Motors from $117.00 to $122.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Finally, Morgan Stanley lifted their price target on shares of Lithia Motors from $129.00 to $144.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $124.44.
In other news, Director Louis Miramontes sold 450 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $131.34, for a total transaction of $59,103.00. Following the completion of the sale, the director now directly owns 2,746 shares of the company’s stock, valued at $360,659.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan O. Cain sold 723 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $134.78, for a total transaction of $97,445.94. Following the sale, the director now directly owns 11,651 shares of the company’s stock, valued at $1,570,321.78. The disclosure for this sale can be found here. Insiders own 5.21% of the company’s stock.
Lithia Motors Profile
Lithia Motors, Inc operates automotive franchises, and retails new and used vehicles in the United States. The company operates in three segments: Domestic, Import, and Luxury. It sells new and used cars, replacement parts, vehicle service contracts, vehicle protection products, and credit insurance products; provides vehicle maintenance, warranty, paint, and repair services; and arranges related financing.
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