Group 1 Automotive (NYSE:GPI) Major Shareholder Acquires $13,376,275.44 in Stock

Key Points

• Conifer Management purchased 47,353 Group 1 Automotive shares for approximately $13.38 million, increasing its stake by 3.48% to 1.41 million shares. The major shareholder also made several additional purchases in early September.
• Group 1 Automotive shares fell 1.3% to $278.24, while the company reported quarterly EPS of $9.61 and revenue of $5.39 billion—both below analyst expectations. Revenue declined 5.6% year over year.
• The company declared a quarterly dividend of $0.55 per share, equivalent to a $2.20 annualized payout and a 0.8% yield. Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $373.38.

Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) major shareholder Conifer Management, L.L.C. acquired 47,353 shares of the company's stock in a transaction dated Wednesday, September 9th. The shares were bought at an average price of $282.48 per share, for a total transaction of $13,376,275.44. Following the acquisition, the insider directly owned 1,409,993 shares of the company's stock, valued at approximately $398,294,822.64. This trade represents a 3.48% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Major 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 Thursday, September 10th, Conifer Management, L.L.C. acquired 36,647 shares of Group 1 Automotive stock. The shares were purchased at an average price of $280.86 per share, with a total value of $10,292,676.42.
• On Friday, September 4th, Conifer Management, L.L.C. bought 57,159 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $300.15 per share, for a total transaction of $17,156,273.85.
• On Thursday, September 3rd, Conifer Management, L.L.C. bought 83,121 shares of Group 1 Automotive stock. The stock was purchased at an average price of $282.63 per share, for a total transaction of $23,492,488.23.
• On Wednesday, September 2nd, Conifer Management, L.L.C. purchased 26,561 shares of Group 1 Automotive stock. The stock was acquired 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. purchased 3,539 shares of Group 1 Automotive stock. The shares were acquired at an average price of $269.66 per share, with a total value of $954,326.74.

Group 1 Automotive Stock Down 1.3%

GPI traded down $3.60 during trading on Friday, hitting $278.24. 121,142 shares of the company's stock were exchanged, compared to its average volume of 189,817. 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 business's 50 day moving average is $289.22 and its two-hundred day moving average is $311.88. Group 1 Automotive, Inc. has a fifty-two week low of $249.54 and a fifty-two week high of $485.57. The stock has a market cap of $3.32 billion, a P/E ratio of 11.59, a PEG ratio of 0.87 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 (EPS) for the quarter, missing analysts' consensus estimates of $10.60 by ($0.99). Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.66%. The business had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the prior year, the business earned $10.82 earnings per share. The firm's quarterly revenue was down 5.6% compared to the same quarter last year. As a group, equities analysts expect that Group 1 Automotive, Inc. will post 38.96 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 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. Group 1 Automotive's payout ratio is 9.16%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GPI. Zacks Research lowered Group 1 Automotive from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. Evercore set a $360.00 price target on Group 1 Automotive in a report on Tuesday, August 4th. Morgan Stanley reissued an "equal weight" rating and issued a $300.00 price target (down from $400.00) on shares of Group 1 Automotive in a research report on Friday, August 7th. DA Davidson set a $425.00 price objective on Group 1 Automotive in a research note on Friday, July 10th. Finally, Benchmark reaffirmed a "buy" rating on shares of Group 1 Automotive in a report on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Group 1 Automotive currently has an average rating of "Hold" and an average target price of $373.38.

Hedge Funds Weigh In On Group 1 Automotive

A number of hedge funds and other institutional investors have recently modified their holdings of GPI. Integrated Wealth Concepts LLC bought a new stake in Group 1 Automotive during the second quarter worth $42,000. Johnson Financial Group Inc. bought a new position in Group 1 Automotive in the 3rd quarter valued at $55,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Group 1 Automotive during the 4th quarter valued at $57,000. Global Retirement Partners LLC increased its position in shares of Group 1 Automotive by 78.5% during the 4th quarter. Global Retirement Partners LLC now owns 191 shares of the company's stock valued at $75,000 after purchasing an additional 84 shares during the last quarter. Finally, Allworth Financial LP bought a new stake in shares of Group 1 Automotive during the 2nd quarter worth $75,000. Hedge funds and other institutional investors own 99.92% of the company's stock.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc NYSE: GPI is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.

Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.

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