Rhumbline Advisers Sells 2,138 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Rhumbline Advisers reduced its position in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,450 shares of the company's stock after selling 2,138 shares during the quarter. Rhumbline Advisers owned 0.32% of Group 1 Automotive worth $15,832,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in Group 1 Automotive by 119.4% during the fourth quarter. Bessemer Group Inc. now owns 68 shares of the company's stock worth $29,000 after acquiring an additional 37 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Group 1 Automotive during the fourth quarter worth $66,000. Global Retirement Partners LLC raised its position in Group 1 Automotive by 59.3% during the fourth quarter. Global Retirement Partners LLC now owns 188 shares of the company's stock worth $79,000 after acquiring an additional 70 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Group 1 Automotive during the fourth quarter worth $144,000. Finally, EverSource Wealth Advisors LLC raised its position in Group 1 Automotive by 13.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 346 shares of the company's stock worth $146,000 after acquiring an additional 41 shares in the last quarter. 99.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GPI has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Group 1 Automotive from $495.00 to $435.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Citigroup increased their price objective 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. Wall Street Zen raised shares of Group 1 Automotive from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Guggenheim lowered shares of Group 1 Automotive from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $454.43.

Group 1 Automotive Stock Performance

Shares of GPI stock traded up $0.35 on Wednesday, hitting $442.96. The company's stock had a trading volume of 119,030 shares, compared to its average volume of 142,945. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 1.03. The stock's 50 day moving average is $416.41 and its 200-day moving average is $427.14. Group 1 Automotive, Inc. has a fifty-two week low of $279.86 and a fifty-two week high of $490.09. The company has a market capitalization of $5.73 billion, a PE ratio of 12.05 and a beta of 0.91.

Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $10.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.68 by $0.49. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.37 billion. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.09%. The business's revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the company posted $9.49 earnings per share. Equities research analysts expect that Group 1 Automotive, Inc. will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. Group 1 Automotive's payout ratio is 5.61%.

Insiders Place Their Bets

In related news, VP Michael David Jones sold 1,613 shares of Group 1 Automotive stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $405.57, for a total transaction of $654,184.41. Following the sale, the vice president now directly owns 8,260 shares of the company's stock, valued at approximately $3,350,008.20. The trade was a 16.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Daniel James Mchenry sold 3,000 shares of Group 1 Automotive stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $441.71, for a total transaction of $1,325,130.00. Following the sale, the chief financial officer now directly owns 16,674 shares in the company, valued at $7,365,072.54. This trade represents a 15.25% decrease in their ownership of the stock. 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.