12,700 Shares in Group 1 Automotive, Inc. $GPI Purchased by Strs Ohio

Key Points

• Strs Ohio has made a new investment of approximately $4.85 million in Group 1 Automotive, acquiring 12,700 shares, which constitutes 0.10% of the company's stock.
• Institutional ownership is significant, with approximately 99.92% of the stock held by institutional investors and hedge funds, indicating strong confidence in the company.
• Recently, several analysts have altered their ratings for Group 1 Automotive, with Morgan Stanley raising its price target to $485.00, while Zacks Research downgraded it to a "hold" rating.

Strs Ohio purchased a new position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,700 shares of the company's stock, valued at approximately $4,851,000. Strs Ohio owned 0.10% of Group 1 Automotive as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GPI. Elequin Capital LP purchased a new stake in Group 1 Automotive in the first quarter worth $29,000. Bessemer Group Inc. lifted its stake in Group 1 Automotive by 60.3% in the first quarter. Bessemer Group Inc. now owns 109 shares of the company's stock worth $41,000 after acquiring an additional 41 shares during the period. Fifth Third Bancorp lifted its stake in Group 1 Automotive by 24.8% in the first quarter. Fifth Third Bancorp now owns 146 shares of the company's stock worth $56,000 after acquiring an additional 29 shares during the period. Kestra Investment Management LLC purchased a new stake in Group 1 Automotive in the first quarter worth $64,000. Finally, NBC Securities Inc. purchased a new stake in Group 1 Automotive in the first quarter worth $87,000. Hedge funds and other institutional investors own 99.92% of the company's stock.

Insider Buying and Selling at Group 1 Automotive

In other news, Director Lincoln Pereira sold 7,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $469.34, for a total transaction of $3,285,380.00. Following the completion of the transaction, the director directly owned 82,967 shares in the company, valued at $38,939,731.78. This trade represents a 7.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $219,439.50. Following the transaction, the director owned 8 shares of the company's stock, 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. 2.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GPI shares. Bank of America dropped their price target on Group 1 Automotive from $560.00 to $545.00 and set a "buy" rating for the company in a research note on Wednesday, September 10th. Benchmark initiated coverage on Group 1 Automotive in a report on Tuesday, June 24th. They issued a "hold" rating for the company. 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 research report on Tuesday, August 5th. Wall Street Zen lowered Group 1 Automotive from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Morgan Stanley raised their price objective on Group 1 Automotive from $470.00 to $485.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $476.57.

Group 1 Automotive Stock Down 1.4%

Shares of NYSE:GPI traded down $6.36 on Friday, hitting $454.60. 297,521 shares of the company traded hands, compared to its average volume of 153,033. Group 1 Automotive, Inc. has a 52 week low of $344.38 and a 52 week high of $490.09. 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 stock has a 50 day simple moving average of $446.60 and a 200-day simple moving average of $430.05. The company has a market cap of $5.88 billion, a PE ratio of 12.53, a PEG ratio of 1.17 and a beta of 0.86.

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

Group 1 Automotive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $2.00 annualized dividend and a dividend yield of 0.4%. Group 1 Automotive's dividend payout ratio (DPR) is presently 5.51%.

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.