Group 1 Automotive, Inc. (NYSE:GPI) Shares Sold by Cadian Capital Management LP

Cadian Capital Management LP decreased its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 22.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,537 shares of the company's stock after selling 17,887 shares during the quarter. Group 1 Automotive comprises about 1.5% of Cadian Capital Management LP's investment portfolio, making the stock its 21st biggest position. Cadian Capital Management LP owned about 0.47% of Group 1 Automotive worth $26,358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Group 1 Automotive during the 4th quarter valued at about $65,721,000. FMR LLC lifted its stake in shares of Group 1 Automotive by 26.4% in the 4th quarter. FMR LLC now owns 515,593 shares of the company's stock valued at $217,312,000 after purchasing an additional 107,663 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in shares of Group 1 Automotive during the 4th quarter valued at about $37,119,000. Thrivent Financial for Lutherans raised its position in shares of Group 1 Automotive by 111.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 161,216 shares of the company's stock valued at $67,949,000 after purchasing an additional 84,832 shares during the period. Finally, Advent International L.P. grew its position in shares of Group 1 Automotive by 65.7% in the fourth quarter. Advent International L.P. now owns 203,951 shares of the company's stock valued at $85,961,000 after purchasing an additional 80,870 shares during the last quarter. Hedge funds and other institutional investors own 99.92% of the company's stock.

Group 1 Automotive Stock Performance

NYSE:GPI traded up $17.43 during trading hours on Thursday, reaching $430.54. The stock had a trading volume of 162,051 shares, compared to its average volume of 143,533. The stock has a market cap of $5.57 billion, a P/E ratio of 11.72 and a beta of 0.94. Group 1 Automotive, Inc. has a 12-month low of $279.86 and a 12-month high of $490.09. 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 has a 50 day simple moving average of $404.11 and a 200 day simple moving average of $419.41.

Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $10.17 EPS for the quarter, beating the consensus estimate of $9.68 by $0.49. The firm had revenue of $5.51 billion during 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 quarterly revenue was up 23.1% compared to the same quarter last year. During the same period last year, the firm earned $9.49 EPS. On average, research analysts forecast that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.

Group 1 Automotive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.50 dividend. This is a boost from Group 1 Automotive's previous quarterly dividend of $0.47. The ex-dividend date was Monday, March 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.46%. Group 1 Automotive's payout ratio is presently 5.61%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GPI. JPMorgan Chase & Co. reduced their price objective on Group 1 Automotive from $495.00 to $435.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Guggenheim lowered their price objective on shares of Group 1 Automotive from $502.00 to $426.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Stephens reaffirmed an "equal weight" rating and set a $460.00 price objective on shares of Group 1 Automotive in a research note on Thursday, January 30th. Finally, Citigroup started coverage on shares of Group 1 Automotive in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $463.00 price objective for the company. Two research 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 has an average rating of "Moderate Buy" and a consensus target price of $449.86.

Insider Activity at Group 1 Automotive

In other Group 1 Automotive news, VP Michael David Jones sold 1,613 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $405.57, for a total transaction of $654,184.41. Following the transaction, the vice president now owns 8,260 shares in the company, valued at approximately $3,350,008.20. This represents a 16.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is owned by corporate insiders.

Group 1 Automotive Company 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.