Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) major shareholder Conifer Management, L.L.C. purchased 20,471 shares of Group 1 Automotive stock in a transaction dated Monday, October 26th. The stock was bought at an average price of $246.14 per share, with a total value of $5,038,731.94. Following the completion of the purchase, the insider directly owned 2,012,290 shares of the company's stock, valued at approximately $495,305,060.60. This trade represents a 1.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 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 Friday, October 23rd, Conifer Management, L.L.C. bought 34,529 shares of Group 1 Automotive stock. The stock was purchased at an average cost of $242.41 per share, with a total value of $8,370,174.89.
- On Thursday, October 22nd, Conifer Management, L.L.C. acquired 45,000 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $240.52 per share, with a total value of $10,823,400.00.
- On Monday, September 28th, Conifer Management, L.L.C. purchased 133,472 shares of Group 1 Automotive stock. The stock was acquired at an average price of $243.58 per share, with a total value of $32,511,109.76.
- On Wednesday, September 30th, Conifer Management, L.L.C. purchased 71,592 shares of Group 1 Automotive stock. The stock was bought at an average price of $242.03 per share, for a total transaction of $17,327,411.76.
- On Tuesday, September 29th, Conifer Management, L.L.C. bought 68,648 shares of Group 1 Automotive stock. The stock was purchased at an average price of $239.48 per share, for a total transaction of $16,439,823.04.
- On Friday, September 25th, Conifer Management, L.L.C. purchased 50,532 shares of Group 1 Automotive stock. The stock was acquired at an average price of $252.06 per share, for a total transaction of $12,737,095.92.
- On Thursday, September 24th, Conifer Management, L.L.C. acquired 75,756 shares of Group 1 Automotive stock. The stock was acquired at an average cost 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, for a total transaction of $9,407,982.00.
- On Thursday, September 17th, Conifer Management, L.L.C. acquired 28,000 shares of Group 1 Automotive stock. The shares were bought at an average cost of $266.06 per share, for a total transaction of $7,449,680.00.
- On Thursday, September 10th, Conifer Management, L.L.C. bought 36,647 shares of Group 1 Automotive stock. The shares were bought at an average cost of $280.86 per share, for a total transaction of $10,292,676.42.
Group 1 Automotive Stock Performance
Shares of NYSE:GPI opened at $244.25 on Tuesday. 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 capitalization of $2.91 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.50 and a beta of 0.92. Group 1 Automotive, Inc. has a 12 month low of $224.65 and a 12 month high of $429.00. The firm's 50-day moving average is $254.89 and its 200 day moving average is $310.29.
Group 1 Automotive (NYSE:GPI - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $9.61 earnings per share for the quarter, missing the consensus estimate of $10.60 by ($0.99). Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%. The business had revenue of $5.39 billion during the quarter, compared to analysts' expectations of $5.66 billion. During the same quarter in the previous year, the company posted $10.82 earnings per share. The company's quarterly revenue was down 5.6% compared to the same quarter last year. Research analysts predict that Group 1 Automotive, Inc. will post 37.68 EPS for the current year.
Group 1 Automotive Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, September 1st. Group 1 Automotive's dividend payout ratio is currently 9.16%.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new stake in shares of Group 1 Automotive in the second quarter valued at about $24,206,000. Hsbc Holdings PLC acquired a new position in Group 1 Automotive during the second quarter worth $5,134,000. Conifer Management L.L.C. acquired a new position in Group 1 Automotive during the second quarter worth $281,561,390. BlackRock Inc. acquired a new stake in shares of Group 1 Automotive in the 2nd quarter worth $593,420,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Group 1 Automotive by 51.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,794 shares of the company's stock valued at $26,064,000 after buying an additional 26,822 shares during the period. 99.92% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Group 1 Automotive from $365.00 to $320.00 and set an "overweight" rating on the stock in a report on Tuesday, October 6th. Seaport Research Partners set a $420.00 price objective on shares of Group 1 Automotive in a research report on Monday, August 3rd. UBS Group reduced their target price on Group 1 Automotive from $330.00 to $271.00 and set a "neutral" rating for the company in a research note on Wednesday, October 7th. DA Davidson set a $425.00 target price on Group 1 Automotive in a report on Friday, July 10th. Finally, Weiss Ratings lowered shares of Group 1 Automotive from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, August 17th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $341.67.
Read Our Latest Analysis on GPI
About Group 1 Automotive
(
Get Free Report)
Group 1 Automotive, Inc is an international automotive retailer headquartered in Houston, Texas. The company operates dealerships that sell new and used automobiles and light trucks from a broad range of manufacturers.
In addition to vehicle sales, Group 1 Automotive provides automotive financing and insurance products, vehicle maintenance and repair, collision services, replacement parts, and other related services. Its dealerships also market vehicles through digital retailing platforms.
Founded in 1997, Group 1 Automotive serves customers through a network of dealerships and automotive service locations in the United States, the United Kingdom, and Brazil.
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