Comerica Bank Has $4.40 Million Stake in Group 1 Automotive, Inc. $GPI

Key Points

• Comerica Bank has increased its holdings in Group 1 Automotive by 109.6% during the first quarter, now owning approximately 0.09% of the company valued at $4.4 million.
• Group 1 Automotive reported a 21.4% increase in revenue for the quarter, with an EPS of $11.52, exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.50 per share, representing an annualized yield of 0.4%, with payments scheduled for September 16th.

Comerica Bank lifted its position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 109.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,514 shares of the company's stock after buying an additional 6,021 shares during the quarter. Comerica Bank owned about 0.09% of Group 1 Automotive worth $4,398,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in Group 1 Automotive by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,574 shares of the company's stock valued at $983,000 after purchasing an additional 903 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Group 1 Automotive by 315.5% during the 1st quarter. SG Americas Securities LLC now owns 1,720 shares of the company's stock valued at $657,000 after purchasing an additional 1,306 shares during the last quarter. GAMMA Investing LLC lifted its holdings in 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 purchasing an additional 116 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Group 1 Automotive by 68.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,565 shares of the company's stock valued at $4,799,000 after purchasing an additional 5,091 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP lifted its holdings in Group 1 Automotive by 96.8% during the 1st quarter. Advantage Alpha Capital Partners LP now owns 4,737 shares of the company's stock valued at $1,809,000 after purchasing an additional 2,330 shares during the last quarter. Institutional investors and hedge funds own 99.92% of the company's stock.

Insider Activity at Group 1 Automotive

In related news, Director Steven Mizell sold 525 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $417.98, for a total value of $219,439.50. Following the completion of the transaction, the director owned 8 shares of the company's stock, valued at $3,343.84. The trade was a 98.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lincoln Pereira sold 7,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $469.34, for a total value of $3,285,380.00. Following the completion of the transaction, the director directly owned 82,967 shares of the company's stock, valued at approximately $38,939,731.78. This trade represents a 7.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,525 shares of company stock valued at $4,829,950 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Group 1 Automotive Price Performance

GPI stock traded up $10.04 during midday trading on Thursday, reaching $480.32. The company had a trading volume of 158,252 shares, compared to its average volume of 140,896. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.16 and a beta of 0.86. The stock has a 50 day moving average price of $444.87 and a 200-day moving average price of $429.35. Group 1 Automotive, Inc. has a 1-year low of $336.33 and a 1-year high of $490.09. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.05 and a quick ratio of 0.24.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $11.52 EPS for the quarter, beating analysts' consensus estimates of $10.31 by $1.21. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.65 billion. Group 1 Automotive had a return on equity of 18.10% and a net margin of 2.18%.Group 1 Automotive's revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.82 earnings per share. Equities research analysts expect that Group 1 Automotive, Inc. will post 41 earnings per share for the current year.

Group 1 Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. Group 1 Automotive's payout ratio is 5.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GPI shares. Benchmark started coverage on Group 1 Automotive in a report on Tuesday, June 24th. They set a "hold" rating for the company. Wall Street Zen downgraded Group 1 Automotive from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Bank of America raised their price target on Group 1 Automotive from $510.00 to $565.00 and gave the company a "buy" rating in a report on Monday, June 16th. JPMorgan Chase & Co. lifted their target price on Group 1 Automotive from $415.00 to $425.00 and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Finally, Citigroup lifted their target price on Group 1 Automotive from $463.00 to $495.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $479.43.

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.