Key Points
- Conifer Management purchased 36,647 Group 1 Automotive shares at an average $280.86 per share, a transaction worth approximately $10.3 million. The purchase increased its direct ownership by 2.6% to 1.45 million shares, following several additional purchases earlier in September.
- Group 1 Automotive reported quarterly EPS of $9.61, below the $10.60 analyst consensus, while revenue of $5.39 billion also missed estimates and declined 5.6% year over year.
- The stock opened at $278.24, well below its 52-week high of $485.57. Analysts hold a consensus “Hold” rating with an average price target of $373.38; the company also announced a quarterly dividend of $0.55 per share.
Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) major shareholder Conifer Management, L.L.C. acquired 36,647 shares of the company's stock in a transaction on Thursday, September 10th. The stock was bought at an average cost of $280.86 per share, with a total value of $10,292,676.42. Following the completion of the acquisition, the insider directly owned 1,446,640 shares in the company, valued at approximately $406,303,310.40. This represents a 2.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 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 Wednesday, September 9th, Conifer Management, L.L.C. purchased 47,353 shares of Group 1 Automotive stock. The stock was bought at an average price of $282.48 per share, for a total transaction of $13,376,275.44.
- On Friday, September 4th, Conifer Management, L.L.C. purchased 57,159 shares of Group 1 Automotive stock. The stock was bought at an average cost of $300.15 per share, with a total value of $17,156,273.85.
- On Thursday, September 3rd, Conifer Management, L.L.C. acquired 83,121 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $282.63 per share, with a total value of $23,492,488.23.
- On Wednesday, September 2nd, Conifer Management, L.L.C. acquired 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. bought 3,539 shares of Group 1 Automotive stock. The stock was purchased at an average price of $269.66 per share, with a total value of $954,326.74.
Group 1 Automotive Stock Performance
Shares of Group 1 Automotive stock opened at $278.24 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03. The company has a market cap of $3.32 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.85 and a beta of 0.82. The company has a 50 day moving average of $289.03 and a 200-day moving average of $311.64. Group 1 Automotive, Inc. has a 1-year low of $249.54 and a 1-year high of $485.57.
Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its quarterly earnings data 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). The firm 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 business earned $10.82 earnings per share. As a group, equities research analysts forecast that Group 1 Automotive, Inc. will post 38.96 earnings per share for the current fiscal year.
Group 1 Automotive Dividend Announcement
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. 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%.
Institutional Investors Weigh In On Group 1 Automotive
Institutional investors have recently modified their holdings of the company. WINTON GROUP Ltd acquired a new position in Group 1 Automotive in the fourth quarter valued at $5,167,000. Norges Bank acquired a new stake in Group 1 Automotive during the 4th quarter worth about $98,125,000. New Age Alpha Advisors LLC raised its position in shares of Group 1 Automotive by 1,001.6% in the 4th quarter. New Age Alpha Advisors LLC now owns 12,779 shares of the company's stock worth $5,026,000 after acquiring an additional 11,619 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Group 1 Automotive by 51.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,794 shares of the company's stock worth $26,064,000 after acquiring an additional 26,822 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Group 1 Automotive by 75.1% in the 1st quarter. Sei Investments Co. now owns 12,264 shares of the company's stock valued at $4,054,000 after purchasing an additional 5,262 shares during the period. 99.92% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
GPI has been the subject of several research analyst reports. Evercore set a $360.00 target price on Group 1 Automotive in a research note on Tuesday, August 4th. Weiss Ratings lowered shares of Group 1 Automotive from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, August 17th. Zacks Research cut shares of Group 1 Automotive from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. JPMorgan Chase & Co. downgraded shares of Group 1 Automotive from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $380.00 to $320.00 in a research note on Friday, July 31st. Finally, UBS Group cut their target price on shares of Group 1 Automotive from $338.00 to $330.00 and set a "neutral" rating on the stock in a research report on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Group 1 Automotive currently has an average rating of "Hold" and a consensus price target of $373.38.
Get Our Latest Research Report on GPI
About Group 1 Automotive
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Group 1 Automotive, Inc is an international automotive retailer that operates franchised dealerships in the United States and the United Kingdom. The company sells new and used vehicles from a broad range of manufacturers, including domestic, Asian and European brands.
In addition to vehicle sales, Group 1 Automotive provides automotive maintenance and repair services, sells replacement parts and accessories, and offers financing, insurance and other related products. Its dealerships also support customers through collision-repair operations and online vehicle purchasing tools.
Founded in 1997 and headquartered in Houston, Texas, Group 1 Automotive has expanded through dealership acquisitions and organic growth.
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