Thornburg Investment Management Inc. Has $11.12 Million Stock Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

Key Points

• Thornburg Investment Management Inc. reduced its stake in Group 1 Automotive by 12.2%, now holding approximately 0.23% of the company, valued at $11.1 million.
• Institutional investors collectively own 99.92% of Group 1 Automotive, indicating strong support from major investment firms.
• Group 1 Automotive reported a net margin of 2.18% and earnings per share (EPS) of $11.52 for the last quarter, surpassing analysts' expectations.

Thornburg Investment Management Inc. lessened its position in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,112 shares of the company's stock after selling 4,055 shares during the quarter. Thornburg Investment Management Inc. owned approximately 0.23% of Group 1 Automotive worth $11,119,000 at the end of the most recent reporting period.

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

Group 1 Automotive Price Performance

Group 1 Automotive stock traded down $2.45 during mid-day trading on Friday, hitting $409.70. 131,073 shares of the company were exchanged, compared to its average volume of 168,749. The company has a quick ratio of 0.24, a current ratio of 1.05 and a debt-to-equity ratio of 0.97. The business has a fifty day moving average of $436.80 and a 200 day moving average of $431.09. Group 1 Automotive, Inc. has a 1-year low of $326.91 and a 1-year high of $490.09. The company has a market capitalization of $5.30 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90.

Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $11.52 earnings per share for the quarter, beating 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 company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the company posted $9.82 earnings per share. The firm's quarterly revenue was up 21.4% compared to the same quarter last year. As a group, sell-side analysts expect that Group 1 Automotive, Inc. will post 41 earnings per share for the current year.

Group 1 Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, June 2nd. Group 1 Automotive's dividend payout ratio (DPR) is presently 5.51%.

Insider Transactions at Group 1 Automotive

In related news, Director Steven Mizell sold 525 shares of Group 1 Automotive 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 sale, the director directly owned 8 shares in the company, valued at $3,343.84. This trade represents a 98.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel James Mchenry sold 3,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $441.71, for a total value of $1,325,130.00. Following the transaction, the chief financial officer owned 16,674 shares in the company, valued at approximately $7,365,072.54. This trade represents a 15.25% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GPI. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $415.00 price objective (down previously from $435.00) on shares of Group 1 Automotive in a research note on Thursday, July 17th. Wall Street Zen lowered shares of Group 1 Automotive from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Guggenheim downgraded shares of Group 1 Automotive from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Bank of America upped their price objective 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, Citigroup upped their price target on shares of Group 1 Automotive from $463.00 to $495.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Five investment 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 stock has an average rating of "Hold" and a consensus 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.