Group 1 Automotive (NYSE:GPI) Major Shareholder Purchases 3,539 Shares

Key Points

• Conifer Management purchased 3,539 Group 1 Automotive shares at an average price of $269.66, increasing its stake by 0.30% to 1,195,799 shares. The shareholder also acquired an additional 26,561 shares the following day.
• Group 1 Automotive’s shares traded at $284.42, while its latest quarterly results missed analyst expectations: EPS was $9.61 versus $10.60 expected, and revenue fell 5.6% year over year to $5.39 billion.
• The company declared a quarterly dividend of $0.55 per share, equivalent to a $2.20 annualized payout and a 0.8% yield. Analysts hold a consensus “Hold” rating with an average price target of $392.44.

Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) major shareholder Conifer Management, L.L.C. purchased 3,539 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The shares were purchased at an average price of $269.66 per share, with a total value of $954,326.74. Following the completion of the transaction, the insider directly owned 1,195,799 shares of the company's stock, valued at $322,459,158.34. This represents a 0.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Wednesday, September 2nd, Conifer Management, L.L.C. acquired 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.

Group 1 Automotive Price Performance

GPI stock traded up $8.01 during midday trading on Thursday, reaching $284.42. The stock had a trading volume of 342,773 shares, compared to its average volume of 187,389. Group 1 Automotive, Inc. has a 52-week low of $249.54 and a 52-week high of $488.39. The company has a current ratio of 1.02, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03. The company's fifty day simple moving average is $289.75 and its 200 day simple moving average is $313.76. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 0.81 and a beta of 0.82.

Group 1 Automotive (NYSE:GPI - Get Free Report) last released its earnings results 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). The business had revenue of $5.39 billion for the quarter, compared to analysts' expectations of $5.66 billion. Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%.Group 1 Automotive's quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $10.82 EPS. As a group, sell-side analysts predict that Group 1 Automotive, Inc. will post 38.96 earnings per share for the current fiscal year.

Group 1 Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Group 1 Automotive's dividend payout ratio is currently 9.16%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays decreased their target price 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. Seaport Research Partners set a $420.00 price target on Group 1 Automotive in a research report on Monday, August 3rd. Evercore set a $360.00 price objective on Group 1 Automotive in a research report on Tuesday, August 4th. Weiss Ratings lowered Group 1 Automotive from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, August 17th. Finally, Citigroup upped their target price on Group 1 Automotive from $420.00 to $462.00 and gave the company a "buy" rating in a report on Monday, May 11th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $392.44.

Hedge Funds Weigh In On Group 1 Automotive

Institutional investors and hedge funds have recently bought and sold shares of the company. Johnson Financial Group Inc. purchased a new stake in shares of Group 1 Automotive in the 3rd quarter valued at approximately $55,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Group 1 Automotive during the 4th quarter worth approximately $57,000. Global Retirement Partners LLC raised 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 buying an additional 84 shares during the period. Allworth Financial LP purchased a new stake in shares of Group 1 Automotive during the 2nd quarter valued at approximately $75,000. Finally, State of Wyoming lifted its holdings in Group 1 Automotive by 28.2% in the fourth quarter. State of Wyoming now owns 191 shares of the company's stock valued at $75,000 after acquiring an additional 42 shares during the last quarter. 99.92% of the stock is currently owned by institutional investors and hedge funds.

About Group 1 Automotive

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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