Balter Liquid Alternatives LLC Invests $145,000 in Group 1 Automotive, Inc. (GPI)
Balter Liquid Alternatives LLC bought a new position in shares of Group 1 Automotive, Inc. (NYSE:GPI) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,249 shares of the company’s stock, valued at approximately $145,000.
Several other large investors have also recently modified their holdings of GPI. Point72 Asia Hong Kong Ltd raised its position in shares of Group 1 Automotive by 745.3% during the first quarter. Point72 Asia Hong Kong Ltd now owns 3,711 shares of the company’s stock worth $242,000 after purchasing an additional 3,272 shares during the period. TD Asset Management Inc. bought a new stake in Group 1 Automotive during the second quarter worth $243,000. Gator Capital Management LLC bought a new stake in Group 1 Automotive during the first quarter worth $261,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Group 1 Automotive during the second quarter worth $262,000. Finally, SG Americas Securities LLC grew its holdings in Group 1 Automotive by 142.8% during the first quarter. SG Americas Securities LLC now owns 4,060 shares of the company’s stock worth $265,000 after buying an additional 2,388 shares in the last quarter.
Several equities research analysts recently issued reports on the company. ValuEngine downgraded Group 1 Automotive from a “hold” rating to a “sell” rating in a report on Friday, June 29th. Zacks Investment Research downgraded Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Thursday, July 12th. Stephens reiterated a “hold” rating and set a $95.00 price target on shares of Group 1 Automotive in a report on Friday, July 27th. Finally, Morgan Stanley upped their price target on Group 1 Automotive from $59.00 to $64.00 and gave the stock a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Group 1 Automotive presently has a consensus rating of “Hold” and a consensus target price of $82.88.
Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Thursday, July 26th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.31. The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.92 billion. Group 1 Automotive had a return on equity of 15.73% and a net margin of 1.97%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.87 EPS. equities analysts anticipate that Group 1 Automotive, Inc. will post 8.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, August 31st. This represents a $1.04 dividend on an annualized basis and a yield of 1.33%. Group 1 Automotive’s dividend payout ratio (DPR) is presently 13.45%.
Group 1 Automotive declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 16th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Group 1 Automotive news, VP Darryl M. Burman sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $78.00, for a total value of $312,000.00. Following the completion of the transaction, the vice president now owns 64,178 shares in the company, valued at approximately $5,005,884. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daryl Kenningham sold 2,700 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $77.75, for a total value of $209,925.00. The disclosure for this sale can be found here. 4.95% of the stock is owned by corporate insiders.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. It sells new and used cars, light trucks, and vehicle parts; arranges vehicle financing; sells service and insurance contracts; and provides automotive maintenance and repair services. The company has operations primarily in the metropolitan areas of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 28 towns in the United Kingdom; and in the metropolitan markets of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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