Group 1 Automotive (NYSE:GPI) Major Shareholder Conifer Management, L.L.C. Acquires 75,756 Shares of Stock

Key Points

• Conifer Management increased its Group 1 Automotive position by purchasing 75,756 shares at $248 each, an $18.8 million transaction that raised its stake by 5.01% to 1.59 million shares.
• GPI shares fell 3.6% to $242.98, near their 52-week low, after the company reported quarterly EPS of $9.61—below the $10.60 analyst consensus—and revenue declined 5.6% year over year.
• Analyst sentiment is mixed, with five Buy, three Hold, and two Sell ratings; the consensus rating is Hold, with an average price target of $360.25. The company also maintains a $0.55 quarterly dividend, yielding approximately 0.9%.

Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) major shareholder Conifer Management, L.L.C. purchased 75,756 shares of Group 1 Automotive stock in a transaction that occurred on Thursday, September 24th. The shares were acquired at an average price of $248.00 per share, with a total value of $18,787,488.00. Following the acquisition, the insider directly owned 1,588,046 shares of the company's stock, valued at $393,835,408. This trade represents a 5.01% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

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

• On Friday, September 25th, Conifer Management, L.L.C. acquired 50,532 shares of Group 1 Automotive stock. The shares were purchased at an average price of $252.06 per share, for a total transaction of $12,737,095.92.
• On Friday, September 18th, Conifer Management, L.L.C. acquired 37,650 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $249.88 per share, for a total transaction of $9,407,982.00.
• On Thursday, September 17th, Conifer Management, L.L.C. purchased 28,000 shares of Group 1 Automotive stock. The shares were acquired 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 shares were acquired at an average price of $280.86 per share, for a total transaction of $10,292,676.42.
• On Wednesday, September 9th, Conifer Management, L.L.C. acquired 47,353 shares of Group 1 Automotive stock. The stock was 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. bought 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 bought at an average price of $282.63 per share, with a total value of $23,492,488.23.
• On Wednesday, September 2nd, Conifer Management, L.L.C. acquired 26,561 shares of Group 1 Automotive stock. The shares were 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. acquired 3,539 shares of Group 1 Automotive stock. The shares were purchased at an average price of $269.66 per share, for a total transaction of $954,326.74.

Group 1 Automotive Trading Down 3.6%

NYSE GPI traded down $9.20 during trading on Monday, hitting $242.98. The company had a trading volume of 430,973 shares, compared to its average volume of 195,015. The company's fifty day moving average is $279.39 and its 200-day moving average is $306.71. Group 1 Automotive, Inc. has a one year low of $239.18 and a one year high of $461.27. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 0.76 and a beta of 0.82. The company has a current ratio of 1.02, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $9.61 EPS for the quarter, missing analysts' consensus estimates of $10.60 by ($0.99). The business 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 period in the previous year, the business posted $10.82 EPS. On average, sell-side analysts predict that Group 1 Automotive, Inc. will post 38.96 earnings per share for the current year.

Group 1 Automotive Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Group 1 Automotive in the second quarter worth $593,420,000. Conifer Management L.L.C. bought a new position in shares of Group 1 Automotive during the second quarter worth $281,561,390. Dimensional Fund Advisors LP increased its position in shares of Group 1 Automotive by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 688,416 shares of the company's stock worth $227,612,000 after acquiring an additional 10,100 shares in the last quarter. Norges Bank bought a new stake in shares of Group 1 Automotive in the fourth quarter worth $98,125,000. Finally, Lakewood Capital Management LP bought a new position in Group 1 Automotive in the second quarter valued at approximately $72,098,000. Hedge funds and other institutional investors own 99.92% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GPI. Barclays decreased their price target on shares of Group 1 Automotive from $435.00 to $365.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 19th. Zacks Research cut shares of Group 1 Automotive from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Benchmark restated a "buy" rating 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 report on Monday, August 3rd. Finally, JPMorgan Chase & Co. lowered Group 1 Automotive from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $380.00 to $320.00 in a research note on Friday, July 31st. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $360.25.

Group 1 Automotive Company Profile

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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