Group 1 Automotive (NYSE:GPI) Stock: Insider Conifer Management, L.L.C. Purchases 68,648 Shares

Key Points

• Conifer Management increased its Group 1 Automotive stake by purchasing 68,648 shares at an average $239.48, a transaction worth $16.4 million. The insider has made multiple additional purchases recently and now owns 1.84 million shares.
• Group 1 Automotive shares rose 0.3% to $241.54, near the low end of their 52-week range. The company recently missed quarterly earnings and revenue estimates, with revenue falling 5.6% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $360.25, while the company continues to pay a quarterly dividend of $0.55 per share, representing a 0.9% yield.

Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) major shareholder Conifer Management, L.L.C. purchased 68,648 shares of Group 1 Automotive stock in a transaction dated Tuesday, September 29th. The stock was bought at an average price of $239.48 per share, for a total transaction of $16,439,823.04. Following the completion of the purchase, the insider owned 1,840,698 shares in the company, valued at $440,810,357.04. This represents a 3.87% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, September 30th, Conifer Management, L.L.C. acquired 71,592 shares of Group 1 Automotive stock. The stock was bought at an average cost of $242.03 per share, with a total value of $17,327,411.76.
• On Friday, September 25th, Conifer Management, L.L.C. bought 50,532 shares of Group 1 Automotive stock. The stock was bought 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 bought 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. purchased 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. acquired 28,000 shares of Group 1 Automotive stock. The shares were purchased at an average cost 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 cost of $280.86 per share, with a total value of $10,292,676.42.
• On Wednesday, September 9th, Conifer Management, L.L.C. bought 47,353 shares of Group 1 Automotive stock. The stock was purchased 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. purchased 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. acquired 83,121 shares of Group 1 Automotive stock. The stock was 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. acquired 26,561 shares of Group 1 Automotive stock. The stock was acquired at an average price of $276.03 per share, with a total value of $7,331,632.83.

Group 1 Automotive Trading Up 0.3%

NYSE:GPI traded up $0.61 during mid-day trading on Wednesday, hitting $241.54. 354,508 shares of the company's stock were exchanged, compared to its average volume of 273,875. 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, Inc. has a fifty-two week low of $235.11 and a fifty-two week high of $461.27. The company has a 50 day simple moving average of $275.01 and a 200-day simple moving average of $305.30. The firm has a market capitalization of $2.88 billion, a P/E 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 released 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). 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 the consensus estimate of $5.66 billion. During the same period in the previous year, the business posted $10.82 EPS. Group 1 Automotive's revenue was down 5.6% on a year-over-year basis. As a group, research analysts expect that Group 1 Automotive, Inc. will post 38.96 earnings per share for the current year.

Group 1 Automotive Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GPI shares. Evercore set a $360.00 price objective on Group 1 Automotive in a research note on Tuesday, August 4th. Benchmark restated a "buy" rating on shares of Group 1 Automotive in a report on Friday, July 10th. Citigroup reduced their price objective on shares of Group 1 Automotive from $387.00 to $357.00 and set a "buy" rating on the stock in a research note on Monday. UBS Group lowered their target price on shares of Group 1 Automotive from $338.00 to $330.00 and set a "neutral" rating for the company in a research note on Friday, July 10th. Finally, Barclays dropped 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 report on Wednesday, August 19th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $360.25.

Institutional Investors Weigh In On Group 1 Automotive

A number of hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new position in shares of Group 1 Automotive during the 2nd quarter worth approximately $42,000. Anchor Investment Management LLC increased its stake 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 valued at $62,000 after acquiring an additional 112 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of Group 1 Automotive by 78.5% in the 4th quarter. Global Retirement Partners LLC now owns 191 shares of the company's stock valued at $75,000 after acquiring an additional 84 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Group 1 Automotive during the 2nd quarter valued at $75,000. Finally, Group One Trading LLC bought a new position in Group 1 Automotive during the second quarter worth $79,000. 99.92% of the stock is currently owned by institutional investors.

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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