Wedge Capital Management L L P NC Takes Position in Group 1 Automotive, Inc. (NYSE:GPI)

Wedge Capital Management L L P NC acquired a new position in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 94,354 shares of the company's stock, valued at approximately $36,039,000. Wedge Capital Management L L P NC owned 0.71% of Group 1 Automotive at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Captrust Financial Advisors increased its position in shares of Group 1 Automotive by 4.2% during the fourth quarter. Captrust Financial Advisors now owns 571 shares of the company's stock worth $241,000 after acquiring an additional 23 shares in the last quarter. Bessemer Group Inc. boosted its stake in Group 1 Automotive by 119.4% in the 4th quarter. Bessemer Group Inc. now owns 68 shares of the company's stock worth $29,000 after purchasing an additional 37 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Group 1 Automotive by 13.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 346 shares of the company's stock worth $146,000 after purchasing an additional 41 shares in the last quarter. HighPoint Advisor Group LLC raised its stake in shares of Group 1 Automotive by 2.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,536 shares of the company's stock valued at $647,000 after purchasing an additional 41 shares during the period. Finally, Summit Investment Advisors Inc. boosted its position in shares of Group 1 Automotive by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,385 shares of the company's stock worth $584,000 after buying an additional 44 shares during the period. 99.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Group 1 Automotive

In other news, VP Michael David Jones sold 1,613 shares of Group 1 Automotive stock in a transaction that occurred on 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 transaction, the vice president now directly owns 8,260 shares in the company, valued at approximately $3,350,008.20. The trade was a 16.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

GPI has been the topic of a number of recent research reports. Guggenheim downgraded shares of Group 1 Automotive from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Wall Street Zen upgraded shares of Group 1 Automotive from a "hold" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. cut their price target 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. Finally, Citigroup raised their price objective on Group 1 Automotive from $463.00 to $495.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $454.43.

Group 1 Automotive Stock Performance

NYSE GPI opened at $422.90 on Friday. The firm has a market capitalization of $5.47 billion, a P/E ratio of 11.51 and a beta of 0.91. 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 firm's fifty day moving average price is $413.11 and its two-hundred day moving average price is $426.72. Group 1 Automotive, Inc. has a 1 year low of $279.86 and a 1 year high of $490.09.

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

Group 1 Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, June 2nd. Group 1 Automotive's dividend payout ratio (DPR) is presently 5.61%.

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.

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