Beacon Pointe Advisors LLC Takes Position in Group 1 Automotive, Inc. (NYSE:GPI)

Beacon Pointe Advisors LLC purchased a new position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,529 shares of the company's stock, valued at approximately $2,330,000.

Several other institutional investors and hedge funds have also bought and sold shares of GPI. Bessemer Group Inc. boosted its holdings 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 worth $29,000 after buying an additional 37 shares during the last quarter. R Squared Ltd bought a new position in shares of Group 1 Automotive in the fourth quarter worth about $30,000. GAMMA Investing LLC boosted its stake in Group 1 Automotive by 70.4% in the 4th quarter. GAMMA Investing LLC now owns 121 shares of the company's stock worth $51,000 after purchasing an additional 50 shares during the period. Avior Wealth Management LLC raised its position in shares of Group 1 Automotive by 25.6% during the fourth quarter. Avior Wealth Management LLC now owns 152 shares of the company's stock valued at $64,000 after buying an additional 31 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Group 1 Automotive during the 4th quarter valued at approximately $66,000. 99.92% of the stock is owned by hedge funds and other institutional investors.

Group 1 Automotive Price Performance

GPI traded down $0.61 on Tuesday, hitting $411.20. 10,137 shares of the company's stock were exchanged, compared to its average volume of 142,461. Group 1 Automotive, Inc. has a fifty-two week low of $279.86 and a fifty-two week high of $490.09. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 11.20 and a beta of 0.94. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $406.31 and a 200-day moving average price of $418.95.

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

Group 1 Automotive Increases Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

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

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.