Aigen Investment Management LP Lowers Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Key Points

• Aigen Investment Management LP reduced its stake in Group 1 Automotive by 45.8%, selling 811 shares to hold a total of 959 shares valued at approximately $366,000.
• Group 1 Automotive reported $11.52 earnings per share for the last quarter, surpassing expectations of $10.31, and had a revenue of $5.70 billion, up 21.4% from the previous year.
• The company announced a quarterly dividend of $0.50 per share, with a payout ratio of 5.51%, set to be distributed on September 16th.

Aigen Investment Management LP lessened its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 45.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 959 shares of the company's stock after selling 811 shares during the period. Aigen Investment Management LP's holdings in Group 1 Automotive were worth $366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GPI. Allspring Global Investments Holdings LLC raised its stake in Group 1 Automotive by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,574 shares of the company's stock worth $983,000 after buying an additional 903 shares in the last quarter. SG Americas Securities LLC raised its stake in Group 1 Automotive by 315.5% in the first quarter. SG Americas Securities LLC now owns 1,720 shares of the company's stock worth $657,000 after buying an additional 1,306 shares in the last quarter. GAMMA Investing LLC raised its stake in Group 1 Automotive by 95.9% in the first 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. Wealth Enhancement Advisory Services LLC raised its stake in Group 1 Automotive by 68.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,565 shares of the company's stock worth $4,799,000 after buying an additional 5,091 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in Group 1 Automotive by 60.3% during the first quarter. Bessemer Group Inc. now owns 109 shares of the company's stock valued at $41,000 after purchasing an additional 41 shares during the period. Institutional investors own 99.92% of the company's stock.

Group 1 Automotive Price Performance

NYSE GPI traded down $8.88 during trading hours on Friday, hitting $442.26. 219,956 shares of the company's stock traded hands, compared to its average volume of 165,008. Group 1 Automotive, Inc. has a 52-week low of $336.33 and a 52-week high of $490.09. The company has a market capitalization of $5.72 billion, a PE ratio of 12.19, a PEG ratio of 1.11 and a beta of 0.83. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.05 and a quick ratio of 0.24. The firm's 50-day moving average is $437.75 and its 200-day moving average is $429.56.

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

Group 1 Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.00 annualized dividend and a dividend yield of 0.5%. Group 1 Automotive's dividend payout ratio is 5.51%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GPI shares. Morgan Stanley set a $485.00 target price on shares of Group 1 Automotive and gave the company an "overweight" rating in a research report on Thursday. Benchmark started coverage on shares of Group 1 Automotive in a research report on Tuesday, June 24th. They set a "hold" rating for the company. Citigroup boosted 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. Guggenheim downgraded shares of Group 1 Automotive from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Group 1 Automotive from $415.00 to $425.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $479.43.

Insider Activity at Group 1 Automotive

In other news, CFO Daniel James Mchenry sold 3,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 16,674 shares of the company's stock, valued at $7,365,072.54. This represents a 15.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven Mizell sold 525 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $417.98, for a total transaction of $219,439.50. Following the completion of the sale, the director directly owned 8 shares of the company's stock, valued at approximately $3,343.84. This trade represents a 98.50% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company's stock.

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.