Key Points
- Conifer Management increased its Group 1 Automotive stake by purchasing 50,532 shares for approximately $12.74 million, raising its holdings 3.18% to 1.64 million shares valued at about $413 million.
- Group 1 Automotive shares opened at $242.98, near their 12-month low of $239.18 and well below the 12-month high of $461.27. The company recently missed quarterly earnings and revenue estimates, with year-over-year revenue declining 5.6%.
- Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $360.25; the company also pays a quarterly dividend of $0.55, yielding approximately 0.9% annually.
Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) major shareholder Conifer Management, L.L.C. acquired 50,532 shares of the company's stock in a transaction dated Friday, September 25th. The stock was acquired at an average price of $252.06 per share, for a total transaction of $12,737,095.92. Following the acquisition, the insider owned 1,638,578 shares in the company, valued at approximately $413,019,970.68. The trade was a 3.18% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 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 24th, Conifer Management, L.L.C. bought 75,756 shares of Group 1 Automotive stock. The shares were acquired at an average price of $248.00 per share, with a total value of $18,787,488.00.
- On Friday, September 18th, Conifer Management, L.L.C. bought 37,650 shares of Group 1 Automotive stock. The shares were acquired at an average price of $249.88 per share, with a total value of $9,407,982.00.
- On Thursday, September 17th, Conifer Management, L.L.C. purchased 28,000 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $266.06 per share, with a total value of $7,449,680.00.
- On Thursday, September 10th, Conifer Management, L.L.C. purchased 36,647 shares of Group 1 Automotive stock. The stock was bought at an average price of $280.86 per share, for a total transaction of $10,292,676.42.
- On Wednesday, September 9th, Conifer Management, L.L.C. acquired 47,353 shares of Group 1 Automotive stock. The shares were bought at an average cost of $282.48 per share, for a total transaction of $13,376,275.44.
- On Friday, September 4th, Conifer Management, L.L.C. acquired 57,159 shares of Group 1 Automotive stock. The shares were bought at an average price of $300.15 per share, with a total value of $17,156,273.85.
- On Thursday, September 3rd, Conifer Management, L.L.C. bought 83,121 shares of Group 1 Automotive stock. The stock was bought at an average price of $282.63 per share, with a total value of $23,492,488.23.
- On Wednesday, September 2nd, Conifer Management, L.L.C. bought 26,561 shares of Group 1 Automotive stock. The stock was bought at an average cost 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 bought at an average price of $269.66 per share, for a total transaction of $954,326.74.
Group 1 Automotive Price Performance
Shares of NYSE:GPI opened at $242.98 on Tuesday. Group 1 Automotive, Inc. has a 12 month low of $239.18 and a 12 month high of $461.27. The firm has a market capitalization of $2.90 billion, a P/E ratio of 10.12, a P/E/G ratio of 0.76 and a beta of 0.82. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.02 and a quick ratio of 0.25. The company's fifty day moving average price is $278.12 and its 200 day moving average price is $306.22.
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 company had revenue of $5.39 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.82 EPS. As a group, sell-side analysts predict that Group 1 Automotive, Inc. will post 38.96 earnings per share for the current fiscal year.
Group 1 Automotive Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.9%. Group 1 Automotive's dividend payout ratio is 9.16%.
Analyst Ratings Changes
GPI has been the topic of several research analyst reports. UBS Group cut their price target on 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. Zacks Research lowered shares of Group 1 Automotive from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. 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. Morgan Stanley reiterated an "equal weight" rating and issued a $300.00 price target (down from $400.00) on shares of Group 1 Automotive in a research report on Friday, August 7th. Finally, Benchmark reiterated a "buy" rating on shares of Group 1 Automotive in a research note on Friday, July 10th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $360.25.
Read Our Latest Research Report on GPI
Institutional Trading of Group 1 Automotive
Several hedge funds and other institutional investors have recently made changes to their positions in GPI. QRG Capital Management Inc. purchased a new position in Group 1 Automotive during the second quarter worth about $234,000. Anchor Investment Management LLC boosted its holdings in Group 1 Automotive by 112.0% in the 2nd quarter. Anchor Investment Management LLC now owns 212 shares of the company's stock valued at $62,000 after purchasing an additional 112 shares in the last quarter. Tidal Investments LLC increased its position in Group 1 Automotive by 352.3% during the 2nd quarter. Tidal Investments LLC now owns 2,786 shares of the company's stock worth $811,000 after purchasing an additional 2,170 shares during the period. Engineers Gate Manager LP raised its stake in shares of Group 1 Automotive by 81.4% during the 2nd quarter. Engineers Gate Manager LP now owns 26,173 shares of the company's stock worth $7,621,000 after buying an additional 11,748 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Group 1 Automotive during the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 99.92% of the company's stock.
Group 1 Automotive Company Profile
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Get Free Report)
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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