Crescent Grove Advisors LLC Acquires Shares of 340,108 Group 1 Automotive, Inc. (GPI)
Crescent Grove Advisors LLC acquired a new position in Group 1 Automotive, Inc. (NYSE:GPI) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 340,108 shares of the company’s stock, valued at approximately $21,536,000. Group 1 Automotive comprises 6.2% of Crescent Grove Advisors LLC’s portfolio, making the stock its 2nd largest position.
A number of other large investors have also made changes to their positions in GPI. BlackRock Inc. raised its stake in Group 1 Automotive by 47,561.6% in the first quarter. BlackRock Inc. now owns 2,537,979 shares of the company’s stock valued at $188,015,000 after buying an additional 2,532,654 shares during the period. Bank of Montreal Can raised its stake in Group 1 Automotive by 492.7% in the first quarter. Bank of Montreal Can now owns 31,129 shares of the company’s stock valued at $2,306,000 after buying an additional 25,877 shares during the period. Seizert Capital Partners LLC bought a new stake in Group 1 Automotive during the first quarter valued at $2,820,000. KCG Holdings Inc. raised its stake in Group 1 Automotive by 32.6% in the first quarter. KCG Holdings Inc. now owns 4,570 shares of the company’s stock valued at $339,000 after buying an additional 1,123 shares during the period. Finally, Private Advisor Group LLC bought a new stake in Group 1 Automotive during the first quarter valued at $836,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.
Shares of Group 1 Automotive, Inc. (NYSE:GPI) opened at 56.50 on Friday. Group 1 Automotive, Inc. has a 52-week low of $55.06 and a 52-week high of $83.18. The company has a market capitalization of $1.14 billion, a PE ratio of 8.68 and a beta of 1.62. The stock’s 50 day moving average price is $60.75 and its 200-day moving average price is $68.25.
Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Thursday, July 27th. The company reported $1.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by $0.12. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.70 billion. Group 1 Automotive had a return on equity of 15.73% and a net margin of 1.26%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.16 earnings per share. On average, analysts expect that Group 1 Automotive, Inc. will post $7.10 earnings per share for the current year.
Group 1 Automotive announced that its board has authorized a stock buyback program on Friday, May 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to purchase up to 5.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
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Several equities research analysts recently weighed in on the company. BidaskClub lowered Group 1 Automotive from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. ValuEngine lowered Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Wells Fargo & Company restated a “market perform” rating and issued a $66.00 target price (down from $75.00) on shares of Group 1 Automotive in a report on Monday, July 17th. Finally, Zacks Investment Research lowered Group 1 Automotive from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $68.50.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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