Insider Selling: Group 1 Automotive, Inc. (GPI) CEO Sells 20,000 Shares of Stock
Group 1 Automotive, Inc. (NYSE:GPI) CEO Earl J. Hesterberg sold 20,000 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $77.71, for a total value of $1,554,200.00. Following the transaction, the chief executive officer now owns 108,440 shares of the company’s stock, valued at approximately $8,426,872.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Group 1 Automotive, Inc. (GPI) traded up $0.96 on Wednesday, reaching $79.52. The company had a trading volume of 283,100 shares, compared to its average volume of 266,767. The stock has a market cap of $1,650.00, a PE ratio of 12.56, a price-to-earnings-growth ratio of 1.42 and a beta of 1.69. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.05 and a quick ratio of 0.27. Group 1 Automotive, Inc. has a twelve month low of $51.62 and a twelve month high of $84.47.
Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Thursday, October 26th. The company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.47. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Group 1 Automotive had a return on equity of 15.69% and a net margin of 1.20%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.96 EPS. research analysts predict that Group 1 Automotive, Inc. will post 7.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a dividend of $0.25 per share. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. Group 1 Automotive’s dividend payout ratio is 15.80%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Quantitative Systematic Strategies LLC purchased a new stake in Group 1 Automotive during the 3rd quarter worth about $215,000. First Trust Advisors LP lifted its holdings in Group 1 Automotive by 42.9% during the 3rd quarter. First Trust Advisors LP now owns 32,158 shares of the company’s stock worth $2,330,000 after purchasing an additional 9,647 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in shares of Group 1 Automotive in the 2nd quarter valued at about $1,322,000. FCA Corp TX purchased a new stake in shares of Group 1 Automotive in the 3rd quarter valued at about $290,000. Finally, Nordea Investment Management AB raised its holdings in shares of Group 1 Automotive by 2.8% in the 3rd quarter. Nordea Investment Management AB now owns 73,800 shares of the company’s stock valued at $5,348,000 after acquiring an additional 2,000 shares in the last quarter. 97.57% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on GPI shares. Buckingham Research downgraded Group 1 Automotive from a “buy” rating to a “neutral” rating and set a $86.00 price target for the company. in a research note on Monday, November 13th. Zacks Investment Research upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. KeyCorp reiterated a “hold” rating on shares of Group 1 Automotive in a research note on Wednesday, October 4th. Stephens reiterated an “equal weight” rating and set a $87.00 price target (up previously from $83.00) on shares of Group 1 Automotive in a research note on Wednesday, October 4th. Finally, Wells Fargo & Co increased their price objective on Group 1 Automotive from $65.00 to $85.00 and gave the stock a “market perform” rating in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $79.50.
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About Group 1 Automotive
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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