Group 1 Automotive (NYSE:GPI) Major Shareholder Acquires 50,532 Shares of Stock

Key Points

• Conifer Management purchased 50,532 Group 1 Automotive shares at an average $252.06 each, investing approximately $12.7 million and increasing its stake by 3.18% to 1.64 million shares. The shareholder has made several additional purchases in September.
• Group 1 Automotive shares fell 3.6% to $242.98, near their 52-week low, with the stock trading below both its 50-day and 200-day moving averages.
• The company’s latest quarterly results missed expectations, reporting $9.61 in EPS versus the $10.60 consensus and $5.39 billion in revenue versus $5.66 billion expected. Analysts maintain a consensus “Hold” rating with a $360.25 price target, while the company pays a $0.55 quarterly dividend.

Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) major shareholder Conifer Management, L.L.C. purchased 50,532 shares of the stock in a transaction that occurred on Friday, September 25th. The stock was purchased at an average cost of $252.06 per share, with a total value of $12,737,095.92. Following the purchase, the insider owned 1,638,578 shares in the company, valued at $413,019,970.68. This represents a 3.18% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, September 24th, Conifer Management, L.L.C. acquired 75,756 shares of Group 1 Automotive stock. The stock was purchased at an average price of $248.00 per share, with a total value of $18,787,488.00.
• On Friday, September 18th, Conifer Management, L.L.C. purchased 37,650 shares of Group 1 Automotive stock. The shares were acquired at an average price of $249.88 per share, with a total value of $9,407,982.00.
• On Thursday, September 17th, Conifer Management, L.L.C. acquired 28,000 shares of Group 1 Automotive stock. The shares were bought at an average price of $266.06 per share, for a total transaction of $7,449,680.00.
• On Thursday, September 10th, Conifer Management, L.L.C. bought 36,647 shares of Group 1 Automotive stock. The stock was purchased 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 acquired at an average price 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 shares were bought at an average price of $300.15 per share, with a total value of $17,156,273.85.
• On Thursday, September 3rd, Conifer Management, L.L.C. acquired 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 shares were acquired at an average price of $276.03 per share, for a total transaction of $7,331,632.83.
• On Tuesday, September 1st, Conifer Management, L.L.C. acquired 3,539 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $269.66 per share, for a total transaction of $954,326.74.

Group 1 Automotive Trading Down 3.6%

Group 1 Automotive stock traded down $9.20 during trading hours on Monday, reaching $242.98. 430,973 shares of the company's stock traded hands, compared to its average volume of 195,015. Group 1 Automotive, Inc. has a fifty-two week low of $239.18 and a fifty-two week high of $461.27. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.76 and a beta of 0.82. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 1.02. The firm's 50 day moving average is $279.39 and its 200-day moving average is $306.71.

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

Group 1 Automotive Announces Dividend

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

Institutional Trading of Group 1 Automotive

Hedge funds and other institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. bought a new stake in shares of Group 1 Automotive in the second quarter worth $234,000. Anchor Investment Management LLC lifted its position in shares of Group 1 Automotive by 112.0% in the 2nd 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 period. Tidal Investments LLC increased its position in shares of Group 1 Automotive by 352.3% during the second quarter. Tidal Investments LLC now owns 2,786 shares of the company's stock worth $811,000 after buying an additional 2,170 shares during the period. Engineers Gate Manager LP raised its stake in 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 buying an additional 11,748 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Group 1 Automotive in the second quarter valued at $42,000. 99.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Benchmark reiterated a "buy" rating on shares of Group 1 Automotive in a report on Friday, July 10th. Seaport Research Partners set a $420.00 price target on shares of Group 1 Automotive in a research note on Monday, August 3rd. Morgan Stanley reissued an "equal weight" rating and set a $300.00 price target (down from $400.00) on shares of Group 1 Automotive in a report on Friday, August 7th. Evercore set a $360.00 target price on shares of Group 1 Automotive in a research report on Tuesday, August 4th. Finally, Barclays dropped their price target on shares of Group 1 Automotive from $435.00 to $365.00 and set an "overweight" rating for the company in a research report on Wednesday, August 19th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Group 1 Automotive presently has a consensus rating of "Hold" and a consensus target price of $360.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.