Key Points
- Conifer Management purchased 26,561 Group 1 Automotive shares at an average price of $276.03, investing $7.33 million and increasing its ownership by 2.22% to 1.22 million shares. The major shareholder also bought 3,539 shares the previous day.
- Group 1 Automotive shares opened at $284.42, while the company’s latest quarterly results missed expectations: EPS was $9.61 versus the $10.60 consensus, and revenue fell 5.6% year over year to $5.39 billion.
- The company declared a quarterly dividend of $0.55 per share, equivalent to an annualized $2.20 payout and a 0.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $392.44.
Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) major shareholder Conifer Management, L.L.C. acquired 26,561 shares of Group 1 Automotive stock in a transaction on Wednesday, September 2nd. The stock was purchased at an average cost of $276.03 per share, for a total transaction of $7,331,632.83. Following the purchase, the insider owned 1,222,360 shares in the company, valued at approximately $337,408,030.80. The trade was a 2.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Conifer Management, L.L.C. also recently made the following trade(s):
- On Tuesday, September 1st, Conifer Management, L.L.C. acquired 3,539 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $269.66 per share, for a total transaction of $954,326.74.
Group 1 Automotive Trading Up 2.9%
GPI stock opened at $284.42 on Friday. The firm has a fifty day moving average price of $289.43 and a 200 day moving average price of $313.41. Group 1 Automotive, Inc. has a fifty-two week low of $249.54 and a fifty-two week high of $488.39. The firm has a market cap of $3.39 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 0.83 and a beta of 0.82. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 1.02.
Group 1 Automotive (NYSE:GPI - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $9.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $10.60 by ($0.99). Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.66%. The business had revenue of $5.39 billion for the quarter, compared to analysts' expectations of $5.66 billion. During the same period in the previous year, the company earned $10.82 EPS. Group 1 Automotive's revenue for the quarter was down 5.6% compared to the same quarter last year. Sell-side analysts anticipate that Group 1 Automotive, Inc. will post 38.96 earnings per share for the current fiscal year.
Group 1 Automotive Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Group 1 Automotive's dividend payout ratio is currently 9.16%.
Hedge Funds Weigh In On Group 1 Automotive
Several hedge funds have recently added to or reduced their stakes in GPI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Group 1 Automotive by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,766 shares of the company's stock valued at $2,966,000 after buying an additional 227 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Group 1 Automotive by 20.3% during the 1st quarter. Millennium Management LLC now owns 37,028 shares of the company's stock worth $14,143,000 after acquiring an additional 6,239 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Group 1 Automotive during the 1st quarter valued at $229,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Group 1 Automotive by 6.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,872 shares of the company's stock valued at $15,993,000 after acquiring an additional 2,452 shares during the period. Finally, American Century Companies Inc. grew its position in Group 1 Automotive by 46.7% in the 2nd quarter. American Century Companies Inc. now owns 2,753 shares of the company's stock valued at $1,202,000 after acquiring an additional 877 shares during the last quarter. 99.92% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
GPI has been the subject of several recent research reports. Evercore set a $360.00 price target on Group 1 Automotive in a research report on Tuesday, August 4th. UBS Group lowered their price objective on Group 1 Automotive from $338.00 to $330.00 and set a "neutral" rating for the company in a research note on Friday, July 10th. Citigroup lifted their target price on Group 1 Automotive from $420.00 to $462.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Seaport Research Partners set a $420.00 target price on Group 1 Automotive in a research report on Monday, August 3rd. Finally, DA Davidson set a $425.00 price target on Group 1 Automotive in a report on Friday, July 10th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $392.44.
Check Out Our Latest Stock Analysis on Group 1 Automotive
Group 1 Automotive Company Profile
(
Get Free Report)
Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.
Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.
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