Insider Buying: Group 1 Automotive (NYSE:GPI) Major Shareholder Purchases $7,449,680.00 in Stock

Group 1 Automotive, Inc. (NYSE:GPI) major shareholder Conifer Management, L.L.C. bought 28,000 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was purchased at an average price of $266.06 per share, with a total value of $7,449,680.00. Following the completion of the transaction, the insider directly owned 1,474,640 shares of the company’s stock, valued at $392,342,718.40. This trade represents a 1.94% 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 at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, September 18th, Conifer Management, L.L.C. acquired 37,650 shares of Group 1 Automotive stock. The shares were acquired at an average price of $249.88 per share, with a total value of $9,407,982.00.
• On Thursday, September 10th, Conifer Management, L.L.C. purchased 36,647 shares of Group 1 Automotive stock. The stock was acquired at an average price of $280.86 per share, for a total transaction of $10,292,676.42.
• On Wednesday, September 9th, Conifer Management, L.L.C. acquired 47,353 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $282.48 per share, with a total value 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 purchased at an average cost of $300.15 per share, with a total value 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 bought at an average price of $282.63 per share, for a total transaction of $23,492,488.23.
• On Wednesday, September 2nd, Conifer Management, L.L.C. acquired 26,561 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $276.03 per share, for a total transaction of $7,331,632.83.
• On Tuesday, September 1st, Conifer Management, L.L.C. bought 3,539 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $269.66 per share, for a total transaction of $954,326.74.

Group 1 Automotive Stock Down 2.2%

Shares of GPI stock opened at $248.27 on Thursday. The stock’s 50 day simple moving average is $282.51 and its 200 day simple moving average is $307.68. Group 1 Automotive, Inc. has a twelve month low of $246.21 and a twelve month high of $461.27. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 1.02. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 0.76 and a beta of 0.82.

Group 1 Automotive (NYSE:GPI) last released its 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 firm had revenue of $5.39 billion for 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 firm’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $10.82 EPS. As a group, research analysts predict that Group 1 Automotive, Inc. will post 38.96 EPS for the current year.

Group 1 Automotive Announces Dividend

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

Analyst Upgrades and Downgrades

GPI has been the topic of a number of recent research reports. Barclays decreased their price objective on Group 1 Automotive from $435.00 to $365.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Morgan Stanley restated an “equal weight” rating and set a $300.00 target price (down from $400.00) on shares of Group 1 Automotive in a research report on Friday, August 7th. Zacks Research lowered Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Weiss Ratings cut Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Finally, Benchmark reiterated a “buy” rating on shares of Group 1 Automotive in a research note on Friday, July 10th. Five equities research 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $373.38.

Institutional Investors Weigh In On Group 1 Automotive

A number of institutional investors and hedge funds have recently made changes to their positions in GPI. Integrated Wealth Concepts LLC acquired a new stake in Group 1 Automotive in the second quarter worth about $42,000. Anchor Investment Management LLC lifted its position in Group 1 Automotive by 112.0% during the 2nd quarter. Anchor Investment Management LLC now owns 212 shares of the company’s stock valued at $62,000 after purchasing an additional 112 shares during the period. Global Retirement Partners LLC boosted 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 purchasing an additional 84 shares during the last quarter. Allworth Financial LP bought a new position in shares of Group 1 Automotive in the 2nd quarter valued at about $75,000. Finally, Group One Trading LLC acquired a new stake in shares of Group 1 Automotive during the 2nd quarter worth approximately $79,000. Institutional investors own 99.92% of the company’s stock.

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.