Conifer Management, L.L.C. Buys 28,000 Shares of Group 1 Automotive (NYSE:GPI) Stock

Key Points

• Conifer Management purchased 28,000 Group 1 Automotive shares at an average price of $266.06, investing approximately $7.45 million and increasing its direct ownership by 1.94% to 1,474,640 shares.
• The major shareholder has made several additional purchases in September, acquiring more than 290,000 shares across multiple transactions and signaling continued accumulation of GPI stock.
• Group 1 Automotive shares traded near $251.50, close to their one-year low, after the company missed quarterly earnings and revenue estimates; analysts’ average rating remains Hold, with an average price target of $373.38.

Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) major shareholder Conifer Management, L.L.C. purchased 28,000 shares of the business's stock in a transaction dated Thursday, September 17th. The stock was bought at an average cost of $266.06 per share, with a total value of $7,449,680.00. Following the completion of the acquisition, the insider directly owned 1,474,640 shares of the company's stock, valued at approximately $392,342,718.40. This trade represents a 1.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Conifer Management, L.L.C. also recently made the following trade(s):

• On Friday, September 18th, Conifer Management, L.L.C. purchased 37,650 shares of Group 1 Automotive stock. The shares were purchased at an average price of $249.88 per share, with a total value of $9,407,982.00.
• On Thursday, September 10th, Conifer Management, L.L.C. bought 36,647 shares of Group 1 Automotive stock. The shares were bought at an average price of $280.86 per share, with a total value of $10,292,676.42.
• On Wednesday, September 9th, Conifer Management, L.L.C. purchased 47,353 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $282.48 per share, with a total value of $13,376,275.44.
• On Friday, September 4th, Conifer Management, L.L.C. acquired 57,159 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $300.15 per share, with a total value of $17,156,273.85.
• On Thursday, September 3rd, Conifer Management, L.L.C. purchased 83,121 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $282.63 per share, with a total value of $23,492,488.23.
• On Wednesday, September 2nd, Conifer Management, L.L.C. bought 26,561 shares of Group 1 Automotive stock. The stock was purchased at an average cost of $276.03 per share, with a total value of $7,331,632.83.
• On Tuesday, September 1st, Conifer Management, L.L.C. bought 3,539 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $269.66 per share, with a total value of $954,326.74.

Group 1 Automotive Price Performance

NYSE GPI traded up $5.08 during trading hours on Monday, reaching $251.50. The company's stock had a trading volume of 213,995 shares, compared to its average volume of 192,518. Group 1 Automotive, Inc. has a 1 year low of $246.21 and a 1 year high of $461.27. The firm's 50-day moving average price is $285.70 and its 200-day moving average price is $309.20. The company has a quick ratio of 0.25, a current ratio of 1.02 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 0.74 and a beta of 0.82.

Group 1 Automotive (NYSE:GPI - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $9.61 earnings per share for the quarter, missing analysts' consensus estimates of $10.60 by ($0.99). The firm had revenue of $5.39 billion for the quarter, compared to analysts' expectations of $5.66 billion. Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.66%. The company's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.82 EPS. On average, equities research analysts predict that Group 1 Automotive, Inc. will post 38.96 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Group 1 Automotive's payout ratio is presently 9.16%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GPI. JPMorgan Chase & Co. lowered shares of Group 1 Automotive from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $380.00 to $320.00 in a report on Friday, July 31st. DA Davidson set a $425.00 price objective on shares of Group 1 Automotive in a research report on Friday, July 10th. Seaport Research Partners set a $420.00 price objective on shares of Group 1 Automotive in a research note on Monday, August 3rd. Zacks Research lowered Group 1 Automotive from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Finally, UBS Group cut their target price on Group 1 Automotive from $338.00 to $330.00 and set a "neutral" rating on the stock in a research note on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $373.38.

Institutional Trading of Group 1 Automotive

Large investors have recently made changes to their positions in the stock. Anchor Investment Management LLC grew its holdings in shares of Group 1 Automotive by 112.0% in the second quarter. Anchor Investment Management LLC now owns 212 shares of the company's stock worth $62,000 after purchasing an additional 112 shares during the last quarter. Tidal Investments LLC grew its stake in Group 1 Automotive by 352.3% in the 2nd quarter. Tidal Investments LLC now owns 2,786 shares of the company's stock worth $811,000 after acquiring an additional 2,170 shares in the last quarter. Engineers Gate Manager LP increased its position in shares of Group 1 Automotive by 81.4% during the second quarter. Engineers Gate Manager LP now owns 26,173 shares of the company's stock worth $7,621,000 after acquiring an additional 11,748 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Group 1 Automotive in the second quarter valued at approximately $42,000. Finally, Allworth Financial LP grew its stake in Group 1 Automotive by 444.7% in the second quarter. Allworth Financial LP now owns 256 shares of the company's stock worth $75,000 after purchasing an additional 209 shares in the last quarter. 99.92% of the stock is owned by hedge funds and other institutional investors.

About Group 1 Automotive

Group 1 Automotive, Inc is an international automotive retailer that operates franchised dealerships in the United States and the United Kingdom. The company sells new and used vehicles from a broad range of manufacturers, including domestic, Asian and European brands.

In addition to vehicle sales, Group 1 Automotive provides automotive maintenance and repair services, sells replacement parts and accessories, and offers financing, insurance and other related products. Its dealerships also support customers through collision-repair operations and online vehicle purchasing tools.

Founded in 1997 and headquartered in Houston, Texas, Group 1 Automotive has expanded through dealership acquisitions and organic growth.

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