Group 1 Automotive, Inc. (NYSE:GPI – Get Free Report) major shareholder Conifer Management, L.L.C. bought 45,000 shares of the business’s stock in a transaction on Thursday, October 22nd. The shares were acquired at an average cost of $240.52 per share, for a total transaction of $10,823,400.00. Following the purchase, the insider directly owned 1,957,290 shares in the company, valued at $470,767,390.80. This represents a 2.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more 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 Monday, October 26th, Conifer Management, L.L.C. purchased 20,471 shares of Group 1 Automotive stock. The shares were acquired at an average price of $246.14 per share, with a total value of $5,038,731.94.
- On Friday, October 23rd, Conifer Management, L.L.C. purchased 34,529 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $242.41 per share, with a total value of $8,370,174.89.
- On Monday, September 28th, Conifer Management, L.L.C. purchased 133,472 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $243.58 per share, for a total transaction of $32,511,109.76.
- On Wednesday, September 30th, Conifer Management, L.L.C. acquired 71,592 shares of Group 1 Automotive stock. The shares were bought at an average price of $242.03 per share, for a total transaction of $17,327,411.76.
- On Tuesday, September 29th, Conifer Management, L.L.C. acquired 68,648 shares of Group 1 Automotive stock. The shares were bought at an average price of $239.48 per share, for a total transaction of $16,439,823.04.
- On Friday, September 25th, Conifer Management, L.L.C. acquired 50,532 shares of Group 1 Automotive stock. The stock was bought at an average cost of $252.06 per share, with a total value of $12,737,095.92.
- On Thursday, September 24th, Conifer Management, L.L.C. acquired 75,756 shares of Group 1 Automotive stock. The stock was bought at an average cost of $248.00 per share, with a total value 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 bought 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. bought 28,000 shares of Group 1 Automotive stock. The shares were bought 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. purchased 36,647 shares of Group 1 Automotive stock. The shares were bought at an average price of $280.86 per share, for a total transaction of $10,292,676.42.
Group 1 Automotive Price Performance
Shares of GPI stock traded down $0.72 during midday trading on Monday, reaching $244.25. 235,954 shares of the company were exchanged, compared to its average volume of 262,904. Group 1 Automotive, Inc. has a 12 month low of $224.65 and a 12 month high of $429.00. The company has a market cap of $2.91 billion, a P/E ratio of 10.17, a PEG ratio of 1.50 and a beta of 0.92. The company’s 50 day moving average price is $254.89 and its two-hundred day moving average price is $310.29. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 1.02.
Group 1 Automotive (NYSE:GPI – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $9.61 earnings per share for the quarter, missing analysts’ consensus estimates of $10.60 by ($0.99). The company had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.66 billion. Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $10.82 earnings per share. On average, sell-side analysts expect that Group 1 Automotive, Inc. will post 37.68 earnings per share for the current year.
Group 1 Automotive Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid 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 of this dividend was Tuesday, September 1st. Group 1 Automotive’s payout ratio is currently 9.16%.
Institutional Investors Weigh In On Group 1 Automotive
Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Group 1 Automotive during the 2nd quarter worth $593,420,000. Conifer Management L.L.C. acquired a new stake in shares of Group 1 Automotive during the second quarter worth $281,561,390. Dimensional Fund Advisors LP raised its position in shares of Group 1 Automotive by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 688,416 shares of the company’s stock worth $227,612,000 after purchasing an additional 10,100 shares during the period. Lakewood Capital Management LP acquired a new stake in shares of Group 1 Automotive during the second quarter worth $72,098,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Group 1 Automotive during the second quarter valued at $57,174,000. Institutional investors and hedge funds own 99.92% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on GPI shares. Evercore set a $360.00 target price on Group 1 Automotive in a research note on Tuesday, August 4th. Zacks Research cut shares of Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Seaport Research Partners set a $420.00 price target on shares of Group 1 Automotive in a report on Monday, August 3rd. Barclays reduced their price objective on shares of Group 1 Automotive from $365.00 to $320.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Group 1 Automotive from $275.00 to $260.00 and set a “neutral” rating for the company in a research report on Tuesday, October 6th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Group 1 Automotive presently has an average rating of “Hold” and a consensus price target of $341.67.
About Group 1 Automotive
Group 1 Automotive, Inc is an international automotive retailer headquartered in Houston, Texas. The company operates dealerships that sell new and used automobiles and light trucks from a broad range of manufacturers.
In addition to vehicle sales, Group 1 Automotive provides automotive financing and insurance products, vehicle maintenance and repair, collision services, replacement parts, and other related services. Its dealerships also market vehicles through digital retailing platforms.
Founded in 1997, Group 1 Automotive serves customers through a network of dealerships and automotive service locations in the United States, the United Kingdom, and Brazil.
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