Convergence Investment Partners LLC Purchases New Position in Group 1 Automotive, Inc. (NYSE:GPI)

Convergence Investment Partners LLC purchased a new position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,815 shares of the company's stock, valued at approximately $1,075,000.

Other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. boosted its position in Group 1 Automotive by 119.4% in the 4th quarter. Bessemer Group Inc. now owns 68 shares of the company's stock worth $29,000 after purchasing an additional 37 shares in the last quarter. Fifth Third Bancorp boosted its position in Group 1 Automotive by 24.8% in the 1st quarter. Fifth Third Bancorp now owns 146 shares of the company's stock worth $56,000 after purchasing an additional 29 shares in the last quarter. NBC Securities Inc. purchased a new stake in Group 1 Automotive in the 1st quarter worth approximately $87,000. GAMMA Investing LLC lifted its position in shares of Group 1 Automotive by 95.9% during the 1st quarter. GAMMA Investing LLC now owns 237 shares of the company's stock valued at $91,000 after buying an additional 116 shares in the last quarter. Finally, Archer Investment Corp purchased a new position in shares of Group 1 Automotive during the 1st quarter valued at approximately $138,000. Hedge funds and other institutional investors own 99.92% of the company's stock.

Group 1 Automotive Trading Up 5.1%

NYSE:GPI traded up $21.28 on Friday, reaching $437.34. 267,137 shares of the company's stock were exchanged, compared to its average volume of 168,327. The company has a quick ratio of 0.27, a current ratio of 1.00 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 1.03 and a beta of 0.90. The business has a fifty day moving average of $438.35 and a 200-day moving average of $431.13. Group 1 Automotive, Inc. has a 52-week low of $326.91 and a 52-week high of $490.09.

Group 1 Automotive (NYSE:GPI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $11.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.31 by $1.21. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.65 billion. Group 1 Automotive had a net margin of 2.27% and a return on equity of 17.96%. The business's revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.82 earnings per share. As a group, analysts expect that Group 1 Automotive, Inc. will post 41 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.46%. Group 1 Automotive's payout ratio is 5.61%.

Insider Buying and Selling

In related news, CFO Daniel James Mchenry sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $441.71, for a total transaction of $1,325,130.00. Following the sale, the chief financial officer directly owned 16,674 shares in the company, valued at approximately $7,365,072.54. This represents a 15.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael David Jones sold 1,613 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $405.57, for a total transaction of $654,184.41. Following the sale, the vice president owned 8,260 shares in the company, valued at $3,350,008.20. The trade was a 16.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GPI shares. Wall Street Zen lowered Group 1 Automotive from a "buy" rating to a "hold" rating in a report on Friday, June 27th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $415.00 price target (down from $435.00) on shares of Group 1 Automotive in a research report on Thursday, July 17th. Bank of America boosted their price target on shares of Group 1 Automotive from $510.00 to $565.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Guggenheim cut shares of Group 1 Automotive from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 14th. Finally, Citigroup upped their target price on shares of Group 1 Automotive from $463.00 to $495.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $470.14.

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.