Beacon Pointe Advisors LLC Makes New Investment in Group 1 Automotive, Inc. (NYSE:GPI)

Beacon Pointe Advisors LLC purchased a new stake in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,529 shares of the company's stock, valued at approximately $2,330,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Group 1 Automotive in the fourth quarter valued at approximately $65,721,000. FMR LLC raised its stake in Group 1 Automotive by 26.4% in the 4th quarter. FMR LLC now owns 515,593 shares of the company's stock valued at $217,312,000 after acquiring an additional 107,663 shares during the period. Wealthfront Advisers LLC bought a new stake in Group 1 Automotive in the 4th quarter valued at $37,119,000. Thrivent Financial for Lutherans lifted its holdings in Group 1 Automotive by 111.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 161,216 shares of the company's stock valued at $67,949,000 after purchasing an additional 84,832 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Group 1 Automotive during the fourth quarter worth $21,608,000. 99.92% of the stock is owned by institutional investors.

Group 1 Automotive Price Performance

Shares of GPI stock traded up $6.34 on Friday, reaching $411.67. The company had a trading volume of 81,214 shares, compared to its average volume of 143,169. The business's 50-day moving average is $407.31 and its 200 day moving average is $418.23. Group 1 Automotive, Inc. has a one year low of $279.86 and a one year high of $490.09. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $5.32 billion, a PE ratio of 11.20 and a beta of 0.94.

Group 1 Automotive (NYSE:GPI - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $10.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.68 by $0.49. The business had revenue of $5.51 billion during the quarter, compared to analysts' expectations of $5.37 billion. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.09%. The firm's quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the company earned $9.49 EPS. Equities research analysts forecast that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.

Group 1 Automotive Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This is an increase from Group 1 Automotive's previous quarterly dividend of $0.47. This represents a $2.00 annualized dividend and a yield of 0.49%. Group 1 Automotive's dividend payout ratio (DPR) is currently 5.61%.

Insider Buying and Selling at Group 1 Automotive

In other news, VP Michael David Jones sold 1,613 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $405.57, for a total transaction of $654,184.41. Following the completion of the transaction, the vice president now owns 8,260 shares of the company's stock, valued at approximately $3,350,008.20. This trade represents a 16.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Stephens reissued an "equal weight" rating and issued a $460.00 price target on shares of Group 1 Automotive in a report on Thursday, January 30th. Citigroup started coverage on Group 1 Automotive in a research report on Wednesday, April 23rd. They set a "buy" rating and a $463.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Group 1 Automotive from $495.00 to $435.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, Guggenheim dropped their price target on shares of Group 1 Automotive from $502.00 to $426.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $449.86.

About Group 1 Automotive

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.