Millennium Management LLC trimmed its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 28.0% in the second quarter, Holdings Channel reports. The fund owned 106,076 shares of the company’s stock after selling 41,150 shares during the period. Millennium Management LLC’s holdings in Group 1 Automotive were worth $6,683,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of GPI. BlackRock Inc. lifted its holdings in Group 1 Automotive by 13.2% in the 1st quarter. BlackRock Inc. now owns 2,949,848 shares of the company’s stock valued at $192,744,000 after acquiring an additional 343,818 shares during the last quarter. Tyvor Capital LLC acquired a new stake in Group 1 Automotive in the 2nd quarter valued at about $7,860,000. UBS Group AG lifted its holdings in Group 1 Automotive by 21.4% in the 1st quarter. UBS Group AG now owns 335,355 shares of the company’s stock valued at $21,912,000 after acquiring an additional 59,187 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Group 1 Automotive in the 2nd quarter valued at about $3,081,000. Finally, Foundry Partners LLC lifted its stake in Group 1 Automotive by 122.0% during the second quarter. Foundry Partners LLC now owns 78,971 shares of the company’s stock valued at $4,975,000 after buying an additional 43,395 shares in the last quarter. 99.76% of the stock is owned by institutional investors.
GPI stock opened at $55.01 on Friday. The company has a quick ratio of 0.26, a current ratio of 1.07 and a debt-to-equity ratio of 1.16. Group 1 Automotive, Inc. has a one year low of $53.82 and a one year high of $84.47. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 7.22, a PEG ratio of 4.44 and a beta of 1.96.
Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Thursday, July 26th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.31. Group 1 Automotive had a net margin of 1.97% and a return on equity of 15.73%. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the firm earned $1.87 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts predict that Group 1 Automotive, Inc. will post 8.92 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 18th. Shareholders of record on Tuesday, September 4th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Friday, August 31st. Group 1 Automotive’s dividend payout ratio is presently 13.45%.
A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Group 1 Automotive from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. ValuEngine lowered shares of Group 1 Automotive from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Morgan Stanley upped their price objective on shares of Group 1 Automotive from $59.00 to $64.00 and gave the company a “sell” rating in a research note on Wednesday, August 15th. Finally, Stephens raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Monday, August 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Group 1 Automotive has an average rating of “Hold” and an average target price of $84.33.
In other news, VP Darryl M. Burman sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $79.82, for a total value of $119,730.00. Following the completion of the sale, the vice president now directly owns 62,978 shares of the company’s stock, valued at $5,026,903.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lincoln Pereira sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $79.45, for a total transaction of $1,986,250.00. Following the completion of the sale, the director now directly owns 67,425 shares of the company’s stock, valued at $5,356,916.25. The disclosure for this sale can be found here. Insiders have sold 38,200 shares of company stock valued at $3,012,805 over the last ninety days. Insiders own 4.95% of the company’s stock.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. It sells new and used cars, light trucks, and vehicle parts; arranges vehicle financing; sells service and insurance contracts; and provides automotive maintenance and repair services. The company has operations primarily in the metropolitan areas of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 28 towns in the United Kingdom; and in the metropolitan markets of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
Further Reading: NASDAQ
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