Group 1 Automotive, Inc. $GPI Shares Purchased by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC increased its stake in Group 1 Automotive by 31.5%, owning 38,834 shares valued at approximately $14.8 million.
• Several institutional investors also made significant adjustments to their positions, with 97.8% of Group 1 Automotive's stock now owned by institutional investors.
• Group 1 Automotive reported a strong quarterly earnings performance, posting earnings per share of $11.52, which exceeded analyst expectations by $1.21.

Eventide Asset Management LLC grew its stake in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 31.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 38,834 shares of the company's stock after acquiring an additional 9,310 shares during the period. Eventide Asset Management LLC owned about 0.30% of Group 1 Automotive worth $14,823,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Elequin Capital LP purchased a new stake in shares of Group 1 Automotive in the 1st quarter valued at approximately $29,000. Bessemer Group Inc. lifted its holdings in Group 1 Automotive by 60.3% during the 1st quarter. Bessemer Group Inc. now owns 109 shares of the company's stock worth $41,000 after buying an additional 41 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Group 1 Automotive by 24.8% during the 1st quarter. Fifth Third Bancorp now owns 146 shares of the company's stock worth $56,000 after buying an additional 29 shares in the last quarter. NBC Securities Inc. acquired a new stake in Group 1 Automotive during the 1st quarter worth approximately $87,000. Finally, 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 worth $91,000 after buying an additional 116 shares in the last quarter. 99.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GPI has been the topic of a number of research reports. Wall Street Zen lowered shares of Group 1 Automotive from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. Guggenheim lowered shares of Group 1 Automotive from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Benchmark initiated coverage on shares of Group 1 Automotive in a report on Tuesday, June 24th. They set a "hold" rating on the stock. Bank of America increased their target price on shares of Group 1 Automotive from $510.00 to $565.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Finally, Morgan Stanley increased their target price on shares of Group 1 Automotive from $470.00 to $485.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Group 1 Automotive currently has an average rating of "Hold" and an average price target of $479.43.

Group 1 Automotive Stock Down 1.8%

Shares of NYSE:GPI traded down $8.60 during trading hours on Monday, reaching $475.27. The stock had a trading volume of 210,625 shares, compared to its average volume of 165,945. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.24 and a current ratio of 1.05. The firm's 50 day moving average is $445.75 and its 200-day moving average is $428.83. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 1.20 and a beta of 0.86. Group 1 Automotive, Inc. has a 1 year low of $336.33 and a 1 year high of $490.09.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its 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 firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.65 billion. Group 1 Automotive had a net margin of 2.18% and a return on equity of 18.10%. The company's revenue was up 21.4% on a year-over-year basis. During the same period last year, the firm posted $9.82 EPS. Research analysts predict that Group 1 Automotive, Inc. will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Dividend Announcement

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

Insider Activity at Group 1 Automotive

In related news, CFO Daniel James Mchenry sold 3,000 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $441.71, for a total value of $1,325,130.00. Following the transaction, the chief financial officer directly owned 16,674 shares of the company's stock, valued at $7,365,072.54. This trade represents a 15.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven Mizell sold 525 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $417.98, for a total transaction of $219,439.50. Following the sale, the director owned 8 shares of the company's stock, valued at approximately $3,343.84. This represents a 98.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,525 shares of company stock valued at $4,829,950 in the last ninety days. Insiders own 2.10% of the company's stock.

Group 1 Automotive 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.