Group 1 Automotive (NYSE:GPI) Stock: Insider Conifer Management, L.L.C. Buys 133,472 Shares

Key Points

• Conifer Management increased its Group 1 Automotive stake by purchasing 133,472 shares for approximately $32.5 million, raising its position 8.15% to 1.77 million shares. The major shareholder also made several additional purchases in September.
• Group 1 Automotive’s shares traded around $241.54, near the company’s 52-week low of $235.11 and well below its 52-week high of $461.27. The stock has a market capitalization of approximately $2.88 billion and a P/E ratio of 10.06.
• The company’s latest quarterly results missed expectations, with EPS of $9.61 versus the $10.60 consensus and revenue down 5.6% year over year to $5.39 billion. Analysts hold a consensus “Hold” rating with an average price target of $360.25, while the company maintains a quarterly dividend of $0.55 per share.

Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) major shareholder Conifer Management, L.L.C. purchased 133,472 shares of the company's stock in a transaction that occurred on Monday, September 28th. The stock was bought at an average price of $243.58 per share, with a total value of $32,511,109.76. Following the purchase, the insider owned 1,772,050 shares of the company's stock, valued at approximately $431,635,939. The trade was a 8.15% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large 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 30th, Conifer Management, L.L.C. purchased 71,592 shares of Group 1 Automotive stock. The stock was purchased at an average price of $242.03 per share, with a total value of $17,327,411.76.
• On Tuesday, September 29th, Conifer Management, L.L.C. acquired 68,648 shares of Group 1 Automotive stock. The stock was purchased at an average cost of $239.48 per share, with a total value of $16,439,823.04.
• 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 Thursday, September 24th, Conifer Management, L.L.C. bought 75,756 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $248.00 per share, for a total transaction of $18,787,488.00.
• On Friday, September 18th, Conifer Management, L.L.C. bought 37,650 shares of Group 1 Automotive stock. The stock was purchased 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. purchased 28,000 shares of Group 1 Automotive stock. The stock was purchased at an average price of $266.06 per share, with a total value of $7,449,680.00.
• On Thursday, September 10th, Conifer Management, L.L.C. purchased 36,647 shares of Group 1 Automotive stock. The shares were purchased at an average cost 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 shares were purchased at an average price of $282.48 per share, for a total transaction 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 purchased at an average price 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 shares were acquired at an average price of $282.63 per share, with a total value of $23,492,488.23.

Group 1 Automotive Stock Performance

Shares of NYSE:GPI traded up $0.61 on Wednesday, reaching $241.54. 354,508 shares of the company's stock were exchanged, compared to its average volume of 273,875. The business's 50-day moving average is $275.01 and its two-hundred day moving average is $305.30. The company has a quick ratio of 0.25, a current ratio of 1.02 and a debt-to-equity ratio of 1.03. Group 1 Automotive, Inc. has a fifty-two week low of $235.11 and a fifty-two week high of $461.27. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 0.73 and a beta of 0.82.

Group 1 Automotive (NYSE:GPI - Get Free Report) last issued 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). Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%.The business had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the business earned $10.82 EPS. The business's revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts forecast that Group 1 Automotive, Inc. will post 38.96 EPS for the current year.

Group 1 Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders 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 dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Group 1 Automotive's dividend payout ratio (DPR) is 9.16%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new stake in shares of Group 1 Automotive during the 2nd quarter worth $42,000. Global Retirement Partners LLC raised its position in shares of Group 1 Automotive by 78.5% during the fourth quarter. Global Retirement Partners LLC now owns 191 shares of the company's stock worth $75,000 after purchasing an additional 84 shares during the period. Anchor Investment Management LLC lifted its holdings in shares of Group 1 Automotive by 112.0% during the second quarter. Anchor Investment Management LLC now owns 212 shares of the company's stock valued at $62,000 after purchasing an additional 112 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in shares of Group 1 Automotive by 178.0% in the fourth quarter. Clearstead Advisors LLC now owns 228 shares of the company's stock worth $90,000 after buying an additional 146 shares during the period. Finally, Allworth Financial LP purchased a new position in Group 1 Automotive during the 2nd quarter worth approximately $75,000. Institutional investors and hedge funds own 99.92% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on GPI shares. Benchmark reissued a "buy" rating on shares of Group 1 Automotive in a research note on Friday, July 10th. Zacks Research cut shares of Group 1 Automotive from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. JPMorgan Chase & Co. cut Group 1 Automotive from an "overweight" rating to a "neutral" rating and dropped 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 Group 1 Automotive in a research note on Friday, July 10th. Finally, Citigroup cut their price objective on Group 1 Automotive from $387.00 to $357.00 and set a "buy" rating for the company in a report on Monday. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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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