Voloridge Investment Management LLC Trims Position in Group 1 Automotive, Inc. (NYSE:GPI)

Voloridge Investment Management LLC lessened its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 23.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,719 shares of the company's stock after selling 13,047 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.32% of Group 1 Automotive worth $18,005,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. FMR LLC lifted its stake in shares of Group 1 Automotive by 26.4% during the 4th quarter. FMR LLC now owns 515,593 shares of the company's stock worth $217,312,000 after purchasing an additional 107,663 shares during the period. Alliancebernstein L.P. raised its position in shares of Group 1 Automotive by 2.5% in the 4th quarter. Alliancebernstein L.P. now owns 396,401 shares of the company's stock worth $167,075,000 after buying an additional 9,587 shares during the period. Advent International L.P. raised 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 worth $85,961,000 after buying an additional 80,870 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Group 1 Automotive by 111.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 161,216 shares of the company's stock worth $67,949,000 after buying an additional 84,832 shares during the period. Finally, Northern Trust Corp raised its position in shares of Group 1 Automotive by 10.7% in the 4th quarter. Northern Trust Corp now owns 157,970 shares of the company's stock worth $66,581,000 after buying an additional 15,280 shares during the period. Hedge funds and other institutional investors own 99.92% of the company's stock.

Group 1 Automotive Stock Down 1.1%

Shares of NYSE GPI opened at $426.76 on Friday. Group 1 Automotive, Inc. has a 12-month low of $279.86 and a 12-month high of $490.09. The company has a market cap of $5.52 billion, a P/E ratio of 11.61 and a beta of 0.94. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The stock has a fifty day moving average price of $407.16 and a 200 day moving average price of $425.02.

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

Group 1 Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 annualized dividend and a dividend yield of 0.47%. Group 1 Automotive's dividend payout ratio is presently 5.61%.

Wall Street Analysts Forecast Growth

GPI has been the topic of several research reports. JPMorgan Chase & Co. cut their target price on 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 target price on Group 1 Automotive from $463.00 to $495.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Guggenheim lowered Group 1 Automotive from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 14th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $460.00 target price on shares of Group 1 Automotive in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $454.43.

Insider Activity

In other news, VP Michael David Jones sold 1,613 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $405.57, for a total transaction of $654,184.41. Following the completion of the sale, the vice president now directly owns 8,260 shares in the company, valued at $3,350,008.20. This trade represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.

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