GSA Capital Partners LLP grew its stake in Group 1 Automotive, Inc. (NYSE:GPI) by 123.7% during the 3rd quarter, Holdings Channel reports. The firm owned 21,814 shares of the company’s stock after buying an additional 12,061 shares during the period. GSA Capital Partners LLP’s holdings in Group 1 Automotive were worth $1,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of GPI. Hsbc Holdings PLC raised its stake in shares of Group 1 Automotive by 263.2% in the third quarter. Hsbc Holdings PLC now owns 11,925 shares of the company’s stock worth $774,000 after acquiring an additional 8,642 shares during the last quarter. United Services Automobile Association raised its stake in shares of Group 1 Automotive by 7.3% in the third quarter. United Services Automobile Association now owns 56,203 shares of the company’s stock worth $3,648,000 after acquiring an additional 3,840 shares during the last quarter. Stevens Capital Management LP raised its stake in shares of Group 1 Automotive by 19.1% in the third quarter. Stevens Capital Management LP now owns 9,994 shares of the company’s stock worth $649,000 after acquiring an additional 1,606 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Group 1 Automotive by 63.2% in the third quarter. Quantbot Technologies LP now owns 14,533 shares of the company’s stock worth $943,000 after acquiring an additional 5,629 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Group 1 Automotive in the third quarter worth about $545,000.
GPI opened at $52.48 on Friday. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of 1.14. The company has a market cap of $1.02 billion, a P/E ratio of 6.11, a price-to-earnings-growth ratio of 3.66 and a beta of 2.05. Group 1 Automotive, Inc. has a fifty-two week low of $51.90 and a fifty-two week high of $83.97.
Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings results on Thursday, October 25th. The company reported $2.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.39 by $0.08. The business had revenue of $2.89 billion during the quarter. Group 1 Automotive had a net margin of 2.05% and a return on equity of 15.48%. On average, equities research analysts anticipate that Group 1 Automotive, Inc. will post 8.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, November 30th. Group 1 Automotive’s dividend payout ratio (DPR) is 13.45%.
Group 1 Automotive announced that its board has authorized a share buyback program on Thursday, October 25th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 9.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of equities analysts have weighed in on GPI shares. Morgan Stanley boosted their target price on shares of Group 1 Automotive from $59.00 to $64.00 and gave the stock a “sell” rating in a research note on Wednesday, August 15th. Zacks Investment Research raised shares of Group 1 Automotive from a “hold” rating to a “strong-buy” rating and set a $85.00 price target for the company in a research note on Tuesday, September 11th. ValuEngine downgraded shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. TheStreet downgraded shares of Group 1 Automotive from a “b-” rating to a “c+” rating in a research note on Thursday, October 18th. Finally, Buckingham Research raised shares of Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Monday, October 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $78.60.
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About Group 1 Automotive
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.
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