Wellington Management Group LLP Has $38.16 Million Holdings in Group 1 Automotive, Inc. $GPI

Key Points

• Wellington Management Group LLP increased its holdings in Group 1 Automotive by 130.5% during the first quarter, acquiring a total of 99,914 shares valued at approximately $38.16 million.
• Group 1 Automotive reported earnings of $11.52 per share, surpassing analysts' expectations of $10.31, with revenue of $5.70 billion for the quarter.
• The company recently announced a quarterly dividend of $0.50 per share, representing an annualized yield of 0.4%.

Wellington Management Group LLP increased its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 130.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,914 shares of the company's stock after acquiring an additional 56,564 shares during the quarter. Wellington Management Group LLP owned approximately 0.77% of Group 1 Automotive worth $38,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GPI. Elequin Capital LP acquired a new stake in shares of Group 1 Automotive in the first quarter valued at approximately $29,000. Bessemer Group Inc. increased its stake in shares of Group 1 Automotive by 60.3% in the first quarter. Bessemer Group Inc. now owns 109 shares of the company's stock valued at $41,000 after purchasing an additional 41 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Group 1 Automotive by 24.8% in the first quarter. Fifth Third Bancorp now owns 146 shares of the company's stock valued at $56,000 after acquiring an additional 29 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Group 1 Automotive in the first quarter valued at approximately $87,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Group 1 Automotive by 95.9% in the first quarter. GAMMA Investing LLC now owns 237 shares of the company's stock valued at $91,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds own 99.92% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GPI. Guggenheim cut shares of Group 1 Automotive from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Citigroup raised their target price on shares of Group 1 Automotive from $463.00 to $495.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Benchmark initiated coverage on shares of Group 1 Automotive in a report on Tuesday, June 24th. They set a "hold" rating for the company. Bank of America raised their target price on shares of Group 1 Automotive from $510.00 to $565.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Finally, Zacks Research cut shares of Group 1 Automotive from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $479.43.

Insiders Place Their Bets

In other Group 1 Automotive news, 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 sale, the director directly owned 8 shares in the company, valued at $3,343.84. This trade represents a 98.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Daniel James Mchenry sold 3,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $441.71, for a total transaction of $1,325,130.00. Following the completion of the sale, the chief financial officer owned 16,674 shares in the company, valued at $7,365,072.54. This represents a 15.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,525 shares of company stock worth $4,829,950 in the last ninety days. Insiders own 2.10% of the company's stock.

Group 1 Automotive Stock Down 2.6%

Shares of Group 1 Automotive stock traded down $12.28 during midday trading on Friday, reaching $465.41. 33,940 shares of the company's stock traded hands, compared to its average volume of 165,589. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The company's 50 day simple moving average is $442.28 and its 200 day simple moving average is $429.67. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.24 and a current ratio of 1.05. Group 1 Automotive, Inc. has a 52 week low of $336.33 and a 52 week high of $490.09.

Group 1 Automotive (NYSE:GPI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $11.52 earnings per share for the quarter, beating analysts' consensus estimates of $10.31 by $1.21. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.65 billion. Group 1 Automotive had a net margin of 2.18% and a return on equity of 18.10%. Group 1 Automotive's revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the firm earned $9.82 EPS. Equities analysts expect that Group 1 Automotive, Inc. will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 2nd. Group 1 Automotive's dividend payout ratio (DPR) is currently 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.