LPL Financial LLC Acquires 2,678 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Key Points

• LPL Financial LLC increased its holdings in Group 1 Automotive by 23.8% during the first quarter, now owning shares valued at $5.32 million.
• The company recently reported earnings of $11.52 EPS for the quarter, surpassing estimates and marking a 21.4% year-over-year revenue growth.
• Group 1 Automotive announced a quarterly dividend of $0.50 per share, set to be paid on September 16th, with a 0.5% yield.

LPL Financial LLC lifted its position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 23.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,933 shares of the company's stock after acquiring an additional 2,678 shares during the quarter. LPL Financial LLC owned approximately 0.11% of Group 1 Automotive worth $5,322,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in GPI. Wedge Capital Management L L P NC purchased a new stake in shares of Group 1 Automotive in the 1st quarter valued at approximately $36,039,000. GAMMA Investing LLC lifted its position in shares of Group 1 Automotive by 74,711.6% in the 1st quarter. GAMMA Investing LLC now owns 90,522 shares of the company's stock valued at $345,750,000 after acquiring an additional 90,401 shares in the last quarter. Advent International L.P. lifted its position in shares of Group 1 Automotive by 65.7% in the 4th quarter. Advent International L.P. now owns 203,951 shares of the company's stock valued at $85,961,000 after acquiring an additional 80,870 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Group 1 Automotive in the 4th quarter valued at approximately $21,608,000. Finally, Jefferies Financial Group Inc. acquired a new position in Group 1 Automotive in the 4th quarter valued at approximately $13,066,000. Hedge funds and other institutional investors own 99.92% of the company's stock.

Group 1 Automotive Stock Down 2.0%

Shares of GPI traded down $8.88 during mid-day trading on Friday, hitting $442.26. 219,956 shares of the company's stock were exchanged, compared to its average volume of 167,306. The firm has a fifty day moving average of $437.36 and a two-hundred day moving average of $429.81. Group 1 Automotive, Inc. has a twelve month low of $336.33 and a twelve month high of $490.09. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 1.15 and a beta of 0.83. The company has a quick ratio of 0.24, a current ratio of 1.05 and a debt-to-equity ratio of 0.97.

Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $11.52 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the business posted $9.82 EPS. Group 1 Automotive's quarterly revenue was up 21.4% on a year-over-year basis. On average, sell-side analysts forecast that Group 1 Automotive, Inc. will post 41 earnings per share 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 paid a $0.50 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 0.5%. Group 1 Automotive's dividend payout ratio (DPR) is presently 5.51%.

Insiders Place Their Bets

In related news, CFO Daniel James Mchenry sold 3,000 shares of the firm's 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 in the company, valued at approximately $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 available through this link. Also, Director Steven Mizell sold 525 shares of the firm's stock in a transaction 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 transaction, the director owned 8 shares in the company, 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. Company insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GPI. Benchmark began coverage on shares of Group 1 Automotive in a research note on Tuesday, June 24th. They issued a "hold" rating on the stock. Guggenheim lowered shares of Group 1 Automotive from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 14th. 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. Bank of America upped their price objective on shares of Group 1 Automotive from $510.00 to $565.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Finally, Morgan Stanley set a $485.00 price objective on shares of Group 1 Automotive and gave the company an "overweight" rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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.