Group 1 Automotive (NYSE:GPI) Major Shareholder Conifer Management, L.L.C. Acquires 36,647 Shares

Group 1 Automotive, Inc. (NYSE:GPI) major shareholder Conifer Management, L.L.C. purchased 36,647 shares of Group 1 Automotive stock in a transaction on Thursday, September 10th. The shares were purchased at an average cost of $280.86 per share, with a total value of $10,292,676.42. Following the transaction, the insider owned 1,446,640 shares in the company, valued at approximately $406,303,310.40. The trade was a 2.60% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 9th, Conifer Management, L.L.C. acquired 47,353 shares of Group 1 Automotive stock. The stock was acquired 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 stock was acquired 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. acquired 83,121 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $282.63 per share, for a total transaction of $23,492,488.23.
• On Wednesday, September 2nd, Conifer Management, L.L.C. bought 26,561 shares of Group 1 Automotive stock. The shares were acquired at an average price of $276.03 per share, with a total value of $7,331,632.83.
• On Tuesday, September 1st, Conifer Management, L.L.C. bought 3,539 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $269.66 per share, with a total value of $954,326.74.

Group 1 Automotive Stock Down 1.3%

Shares of GPI stock opened at $278.24 on Friday. The firm has a market capitalization of $3.32 billion, a P/E ratio of 11.59, a PEG ratio of 0.85 and a beta of 0.82. The firm’s fifty day moving average price is $289.03 and its two-hundred day moving average price is $311.64. 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 1 year low of $249.54 and a 1 year high of $485.57.

Group 1 Automotive (NYSE:GPI) last released its 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 return on equity of 15.66% and a net margin of 1.31%.The company had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the company posted $10.82 EPS. The business’s revenue was down 5.6% on a year-over-year basis. On average, equities analysts predict that Group 1 Automotive, Inc. will post 38.96 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

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

Institutional Investors Weigh In On Group 1 Automotive

Hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC boosted its position in shares of Group 1 Automotive by 6.1% in the second quarter. NewEdge Advisors LLC now owns 471 shares of the company’s stock valued at $206,000 after acquiring an additional 27 shares during the period. Lido Advisors LLC increased its position in Group 1 Automotive by 3.4% during the fourth quarter. Lido Advisors LLC now owns 935 shares of the company’s stock worth $399,000 after acquiring an additional 31 shares during the period. Evergreen Capital Management LLC raised its stake in Group 1 Automotive by 3.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,156 shares of the company’s stock worth $505,000 after purchasing an additional 37 shares in the last quarter. Corient Private Wealth LP boosted its holdings in Group 1 Automotive by 6.2% in the 2nd quarter. Corient Private Wealth LP now owns 702 shares of the company’s stock valued at $204,000 after purchasing an additional 41 shares during the period. Finally, State of Wyoming boosted its holdings in Group 1 Automotive by 28.2% in the 4th quarter. State of Wyoming now owns 191 shares of the company’s stock valued at $75,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 99.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently 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 for the company in a research note on Wednesday, August 19th. JPMorgan Chase & Co. cut shares of Group 1 Automotive from an “overweight” rating to a “neutral” rating and cut their price target for the company from $380.00 to $320.00 in a research note on Friday, July 31st. UBS Group dropped their target price on shares of Group 1 Automotive from $338.00 to $330.00 and set a “neutral” rating on the stock in a report on Friday, July 10th. Evercore set a $360.00 target price on shares of Group 1 Automotive in a research note on Tuesday, August 4th. Finally, Zacks Research downgraded Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Group 1 Automotive presently has an average rating of “Hold” and an average target price of $373.38.

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.