NorthRock Partners LLC Acquires New Position in Group 1 Automotive, Inc. (NYSE:GPI)

NorthRock Partners LLC acquired a new stake in Group 1 Automotive, Inc. (NYSE:GPI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,183 shares of the company’s stock, valued at approximately $499,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in shares of Group 1 Automotive by 119.4% in the fourth quarter. Bessemer Group Inc. now owns 68 shares of the company’s stock valued at $29,000 after purchasing an additional 37 shares during the period. R Squared Ltd acquired a new stake in shares of Group 1 Automotive in the fourth quarter valued at about $30,000. Avior Wealth Management LLC lifted its stake in shares of Group 1 Automotive by 25.6% in the fourth quarter. Avior Wealth Management LLC now owns 152 shares of the company’s stock valued at $64,000 after purchasing an additional 31 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Group 1 Automotive in the fourth quarter valued at about $66,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Group 1 Automotive by 59.3% in the fourth quarter. Global Retirement Partners LLC now owns 188 shares of the company’s stock valued at $79,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 99.92% of the company’s stock.

Insider Activity

In related news, VP Michael David Jones sold 1,613 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $405.57, for a total value of $654,184.41. Following the completion of the sale, the vice president now directly owns 8,260 shares in the company, valued at approximately $3,350,008.20. The trade was a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

GPI has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Group 1 Automotive from $495.00 to $435.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Guggenheim cut shares of Group 1 Automotive from a “buy” rating to a “neutral” rating in a research report on Wednesday. Stephens restated an “equal weight” rating and set a $460.00 target price on shares of Group 1 Automotive in a research report on Thursday, January 30th. Finally, Citigroup lifted their target price on shares of Group 1 Automotive from $463.00 to $495.00 and gave the stock a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Group 1 Automotive presently has an average rating of “Moderate Buy” and a consensus price target of $454.43.

Group 1 Automotive Stock Performance

NYSE:GPI opened at $444.14 on Friday. The firm has a 50 day simple moving average of $404.29 and a 200-day simple moving average of $423.19. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.03 and a quick ratio of 0.24. The firm has a market cap of $5.74 billion, a PE ratio of 12.09 and a beta of 0.94. Group 1 Automotive, Inc. has a 1-year low of $279.86 and a 1-year high of $490.09.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Thursday, April 24th. The company reported $10.17 earnings per share for the quarter, beating analysts’ consensus estimates of $9.68 by $0.49. The business had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.37 billion. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.09%. The company’s revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.49 earnings per share. On average, equities analysts expect that Group 1 Automotive, Inc. will post 41 EPS for the current year.

Group 1 Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, June 2nd. Group 1 Automotive’s dividend payout ratio is presently 5.61%.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.