Group 1 Automotive, Inc. $GPI Shares Acquired by Park West Asset Management LLC

Key Points

• Park West Asset Management LLC increased its stake in Group 1 Automotive by 15.3%, acquiring an additional 13,323 shares to reach a total of 100,515 shares, representing about 3.1% of its portfolio.
• Group 1 Automotive announced a quarterly dividend of $0.50 per share, with an annualized payout of $2.00 and a yield of 0.4%, to be paid on September 16th.
• Analysts generally rate Group 1 Automotive as a "Hold", with four analysts giving a "Buy" rating and a consensus price target of $479.43.

Park West Asset Management LLC boosted its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 15.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,515 shares of the company's stock after purchasing an additional 13,323 shares during the quarter. Group 1 Automotive makes up 3.1% of Park West Asset Management LLC's holdings, making the stock its 12th largest position. Park West Asset Management LLC owned about 0.78% of Group 1 Automotive worth $38,392,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in shares of Group 1 Automotive by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,574 shares of the company's stock valued at $983,000 after buying an additional 903 shares in the last quarter. SG Americas Securities LLC raised its position in Group 1 Automotive by 315.5% during the first quarter. SG Americas Securities LLC now owns 1,720 shares of the company's stock worth $657,000 after acquiring an additional 1,306 shares during the period. GAMMA Investing LLC lifted its holdings in Group 1 Automotive by 95.9% during the first quarter. GAMMA Investing LLC now owns 237 shares of the company's stock valued at $91,000 after purchasing an additional 116 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Group 1 Automotive by 68.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,565 shares of the company's stock valued at $4,799,000 after purchasing an additional 5,091 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP grew its position in shares of Group 1 Automotive by 96.8% in the first quarter. Advantage Alpha Capital Partners LP now owns 4,737 shares of the company's stock valued at $1,809,000 after purchasing an additional 2,330 shares during the period. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Group 1 Automotive news, Director Lincoln Pereira sold 7,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $469.34, for a total value of $3,285,380.00. Following the transaction, the director directly owned 82,967 shares in the company, valued at $38,939,731.78. The trade was a 7.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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. Insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

GPI has been the topic of a number of research reports. Bank of America decreased their price target on shares of Group 1 Automotive from $560.00 to $545.00 and set a "buy" rating on the stock in a research note on Wednesday. Guggenheim cut Group 1 Automotive from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Zacks Research lowered Group 1 Automotive from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Morgan Stanley boosted their price target on Group 1 Automotive from $470.00 to $485.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, JPMorgan Chase & Co. raised their price objective on Group 1 Automotive from $415.00 to $425.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $476.57.

Group 1 Automotive Price Performance

Shares of Group 1 Automotive stock traded up $17.25 on Thursday, hitting $488.08. 173,772 shares of the company were exchanged, compared to its average volume of 165,324. 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 company has a 50-day moving average price of $447.13 and a 200 day moving average price of $429.60. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 1.17 and a beta of 0.86. Group 1 Automotive, Inc. has a 1-year low of $339.24 and a 1-year high of $490.09.

Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $11.52 EPS for the quarter, topping 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 return on equity of 18.10% and a net margin of 2.18%.The firm's revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the business posted $9.82 earnings per share. As a group, sell-side analysts predict that Group 1 Automotive, Inc. will post 41 earnings per share 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 given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.00 annualized dividend and a dividend yield of 0.4%. Group 1 Automotive's payout ratio is presently 5.51%.

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.