Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) major shareholder Conifer Management, L.L.C. acquired 57,159 shares of Group 1 Automotive stock in a transaction on Friday, September 4th. The shares were purchased at an average price of $300.15 per share, with a total value of $17,156,273.85. Following the completion of the purchase, the insider owned 1,362,640 shares in the company, valued at $408,996,396. This represents a 4.38% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Conifer Management, L.L.C. also recently made the following trade(s):
- On Thursday, September 3rd, Conifer Management, L.L.C. bought 83,121 shares of Group 1 Automotive stock. The stock was purchased at an average price of $282.63 per share, for a total transaction of $23,492,488.23.
- On Wednesday, September 2nd, Conifer Management, L.L.C. purchased 26,561 shares of Group 1 Automotive stock. The shares were purchased at an average price of $276.03 per share, for a total transaction of $7,331,632.83.
- On Tuesday, September 1st, Conifer Management, L.L.C. purchased 3,539 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $269.66 per share, with a total value of $954,326.74.
Group 1 Automotive Price Performance
Shares of NYSE GPI opened at $281.78 on Wednesday. Group 1 Automotive, Inc. has a twelve month low of $249.54 and a twelve month high of $488.39. The firm has a market cap of $3.36 billion, a P/E ratio of 11.74, a PEG ratio of 0.91 and a beta of 0.82. The company has a 50 day moving average of $289.33 and a 200 day moving average of $312.61. The company has a quick ratio of 0.25, a current ratio of 1.02 and a debt-to-equity ratio of 1.03.
Group 1 Automotive (NYSE:GPI - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $9.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.60 by ($0.99). The business had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.66 billion. Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.66%. The business's revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company posted $10.82 earnings per share. As a group, research analysts expect that Group 1 Automotive, Inc. will post 38.96 EPS for the current fiscal year.
Group 1 Automotive Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. Group 1 Automotive's dividend payout ratio (DPR) is 9.16%.
Institutional Investors Weigh In On Group 1 Automotive
Several hedge funds and other institutional investors have recently modified their holdings of GPI. Northwestern Mutual Wealth Management Co. grew its holdings in Group 1 Automotive by 366,770.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 25,431,464 shares of the company's stock valued at $10,002,195,000 after purchasing an additional 25,424,532 shares during the period. California State Teachers Retirement System lifted its position in shares of Group 1 Automotive by 25,782.6% during the 2nd quarter. California State Teachers Retirement System now owns 3,867,902 shares of the company's stock valued at $1,126,217,000 after buying an additional 3,852,958 shares in the last quarter. BlackRock Inc. bought a new position in shares of Group 1 Automotive during the 2nd quarter valued at approximately $593,420,000. Conifer Management L.L.C. purchased a new stake in Group 1 Automotive in the 2nd quarter worth approximately $281,561,390. Finally, Dimensional Fund Advisors LP increased its holdings in Group 1 Automotive by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 688,416 shares of the company's stock worth $227,612,000 after acquiring an additional 10,100 shares in the last quarter. 99.92% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have issued reports on the stock. Morgan Stanley restated an "equal weight" rating and set a $300.00 target price (down from $400.00) on shares of Group 1 Automotive in a research note on Friday, August 7th. JPMorgan Chase & Co. lowered shares of Group 1 Automotive from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $380.00 to $320.00 in a research note on Friday, July 31st. Barclays decreased their price objective on shares of Group 1 Automotive from $435.00 to $365.00 and set an "overweight" rating for the company in a report on Wednesday, August 19th. Evercore set a $360.00 price objective on shares of Group 1 Automotive in a research report on Tuesday, August 4th. Finally, Weiss Ratings cut shares of Group 1 Automotive from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, August 17th. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $392.44.
View Our Latest Research Report on GPI
About Group 1 Automotive
(
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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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