Group 1 Automotive, Inc. (GPI) Position Raised by LSV Asset Management
LSV Asset Management boosted its position in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 652,444 shares of the company’s stock after purchasing an additional 7,600 shares during the period. LSV Asset Management owned approximately 3.13% of Group 1 Automotive worth $41,312,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in Group 1 Automotive by 7.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 112,808 shares of the company’s stock valued at $7,143,000 after purchasing an additional 7,446 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Group 1 Automotive by 3.3% during the 2nd quarter. Principal Financial Group Inc. now owns 161,079 shares of the company’s stock valued at $10,200,000 after purchasing an additional 5,090 shares in the last quarter. IndexIQ Advisors LLC acquired a new stake in Group 1 Automotive during the 2nd quarter valued at $404,000. American Century Companies Inc. acquired a new stake in Group 1 Automotive during the 2nd quarter valued at $4,189,000. Finally, Victory Capital Management Inc. grew its holdings in Group 1 Automotive by 17.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,797 shares of the company’s stock valued at $114,000 after purchasing an additional 271 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on GPI. Goldman Sachs Group, Inc. (The) raised shares of Group 1 Automotive from a “sell” rating to a “neutral” rating and raised their price target for the company from $56.00 to $67.00 in a report on Thursday. TheStreet lowered shares of Group 1 Automotive from a “b-” rating to a “c+” rating in a report on Thursday, August 17th. BidaskClub lowered shares of Group 1 Automotive from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. ValuEngine lowered shares of Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $66.00 price target (down from $75.00) on shares of Group 1 Automotive in a report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $70.50.
Group 1 Automotive, Inc. (NYSE GPI) opened at 64.81 on Monday. Group 1 Automotive, Inc. has a 1-year low of $51.62 and a 1-year high of $83.18. The firm’s 50-day moving average is $58.11 and its 200-day moving average is $65.10. The company has a market capitalization of $1.30 billion, a P/E ratio of 9.96 and a beta of 1.61.
Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Thursday, July 27th. The company reported $1.87 EPS for the quarter, missing the Zacks’ consensus estimate of $1.99 by $0.12. Group 1 Automotive had a net margin of 1.26% and a return on equity of 15.73%. The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the business earned $2.16 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities research analysts predict that Group 1 Automotive, Inc. will post $7.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Wednesday, August 30th. Group 1 Automotive’s dividend payout ratio is 14.75%.
Group 1 Automotive 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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