Group 1 Automotive, Inc. $GPI Shares Sold by Shellback Capital LP

Key Points

• Shellback Capital LP has reduced its stake in Group 1 Automotive by 8.6%, selling 7,900 shares and now holding about 84,125 shares worth approximately $32.1 million.
• In a recent transaction, Director Lincoln Pereira sold 7,000 shares for $3.29 million, marking a decrease in his position, while CFO Daniel James Mchenry sold 3,000 shares totaling $1.33 million.
• Group 1 Automotive announced a quarterly dividend of $0.50 per share to be paid on September 16th, representing a 0.4% dividend yield and a payout ratio of 5.51%.

Shellback Capital LP lessened its stake in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,125 shares of the company's stock after selling 7,900 shares during the period. Group 1 Automotive accounts for approximately 3.1% of Shellback Capital LP's investment portfolio, making the stock its 5th largest holding. Shellback Capital LP owned about 0.65% of Group 1 Automotive worth $32,132,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Park West Asset Management LLC grew its stake in Group 1 Automotive by 15.3% in the first quarter. Park West Asset Management LLC now owns 100,515 shares of the company's stock valued at $38,392,000 after purchasing an additional 13,323 shares during the last quarter. Petrus Trust Company LTA purchased a new position in Group 1 Automotive in the first quarter valued at about $441,000. Millennium Management LLC grew its stake in Group 1 Automotive by 20.3% in the first quarter. Millennium Management LLC now owns 37,028 shares of the company's stock valued at $14,143,000 after purchasing an additional 6,239 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Group 1 Automotive by 3.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,766 shares of the company's stock valued at $2,966,000 after purchasing an additional 227 shares during the last quarter. Finally, Hancock Whitney Corp purchased a new position in Group 1 Automotive in the first quarter valued at about $207,000. Hedge funds and other institutional investors own 99.92% of the company's stock.

Insider Transactions at Group 1 Automotive

In other Group 1 Automotive news, Director Lincoln Pereira sold 7,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was 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. The trade was a 7.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven Mizell sold 525 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $417.98, for a total value of $219,439.50. Following the completion of the transaction, the director directly 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 disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GPI. Wall Street Zen lowered Group 1 Automotive from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Morgan Stanley lifted their target price on Group 1 Automotive from $470.00 to $485.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Bank of America dropped their price target on Group 1 Automotive from $560.00 to $545.00 and set a "buy" rating on the stock in a research note on Wednesday. Zacks Research lowered Group 1 Automotive from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, JPMorgan Chase & Co. boosted their price target on Group 1 Automotive from $415.00 to $425.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $476.57.

Group 1 Automotive Stock Down 4.1%

Shares of GPI stock traded down $20.02 during trading hours on Friday, reaching $468.23. 97,684 shares of the company's stock were exchanged, compared to its average volume of 164,896. Group 1 Automotive, Inc. has a 1 year low of $344.38 and a 1 year high of $490.09. The stock has a market cap of $6.06 billion, a PE ratio of 12.91, a PEG ratio of 1.17 and a beta of 0.86. The company has a current ratio of 1.05, a quick ratio of 0.24 and a debt-to-equity ratio of 0.97. The stock's fifty day moving average price is $447.57 and its two-hundred day moving average price is $429.85.

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 for the quarter, topping analysts' consensus estimates of $10.31 by $1.21. Group 1 Automotive had a return on equity of 18.10% and a net margin of 2.18%.The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the previous year, the firm earned $9.82 earnings per share. The company's revenue was up 21.4% on a year-over-year basis. Research analysts predict that Group 1 Automotive, Inc. will post 41 EPS for the current year.

Group 1 Automotive Dividend Announcement

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

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.