Group 1 Automotive (NYSE:GPI) Major Shareholder Acquires 50,532 Shares of Stock

Group 1 Automotive, Inc. (NYSE:GPI) major shareholder Conifer Management, L.L.C. purchased 50,532 shares of the stock in a transaction that occurred on Friday, September 25th. The stock was purchased at an average cost of $252.06 per share, with a total value of $12,737,095.92. Following the purchase, the insider owned 1,638,578 shares in the company, valued at $413,019,970.68. This represents a 3.18% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large 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. acquired 75,756 shares of Group 1 Automotive stock. The stock was purchased 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. purchased 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. acquired 28,000 shares of Group 1 Automotive stock. The shares were bought at an average price 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 stock was purchased at an average price of $280.86 per share, with a total value of $10,292,676.42.
• On Wednesday, September 9th, Conifer Management, L.L.C. purchased 47,353 shares of Group 1 Automotive stock. The shares were acquired at an average price of $282.48 per share, with a total value 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. 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. bought 26,561 shares of Group 1 Automotive stock. The shares were acquired 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. 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 Down 3.6%

Group 1 Automotive stock traded down $9.20 during trading hours on Monday, reaching $242.98. 430,973 shares of the company’s stock traded hands, compared to its average volume of 195,015. Group 1 Automotive, Inc. has a fifty-two week low of $239.18 and a fifty-two week high of $461.27. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.76 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. The firm’s 50 day moving average is $279.39 and its 200-day moving average is $306.71.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings results 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 the consensus estimate of $5.66 billion. Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%.The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.82 earnings per share. On average, analysts predict that Group 1 Automotive, Inc. will post 38.96 earnings per share for the current year.

Group 1 Automotive Announces Dividend

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 dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, September 1st. Group 1 Automotive’s dividend payout ratio is 9.16%.

Institutional Trading of Group 1 Automotive

Hedge funds and other institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. bought a new stake in shares of Group 1 Automotive in the second quarter worth $234,000. Anchor Investment Management LLC lifted its position in shares of Group 1 Automotive by 112.0% in the 2nd quarter. Anchor Investment Management LLC now owns 212 shares of the company’s stock worth $62,000 after purchasing an additional 112 shares during the period. Tidal Investments LLC increased its position in shares of Group 1 Automotive by 352.3% during the second quarter. Tidal Investments LLC now owns 2,786 shares of the company’s stock worth $811,000 after buying an additional 2,170 shares during the period. Engineers Gate Manager LP raised its stake in Group 1 Automotive by 81.4% during the second 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 during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Group 1 Automotive in the second quarter valued at $42,000. 99.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Benchmark reiterated a “buy” rating on shares of Group 1 Automotive in a report on Friday, July 10th. Seaport Research Partners set a $420.00 price target on shares of Group 1 Automotive in a research note on Monday, August 3rd. Morgan Stanley reissued an “equal weight” rating and set a $300.00 price target (down from $400.00) on shares of Group 1 Automotive in a report on Friday, August 7th. Evercore set a $360.00 target price on shares of Group 1 Automotive in a research report on Tuesday, August 4th. Finally, Barclays dropped their price target on shares of Group 1 Automotive from $435.00 to $365.00 and set an “overweight” rating for the company in a research report on Wednesday, August 19th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Group 1 Automotive presently has a consensus rating of “Hold” and a consensus target price of $360.25.

About Group 1 Automotive

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.