Darryl M. Burman Sells 3,900 Shares of Group 1 Automotive Inc. (GPI) Stock
Group 1 Automotive Inc. (NYSE:GPI) VP Darryl M. Burman sold 3,900 shares of the business’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $67.90, for a total value of $264,810.00. Following the completion of the transaction, the vice president now directly owns 68,233 shares of the company’s stock, valued at $4,633,020.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Group 1 Automotive Inc. (NYSE:GPI) opened at 68.53 on Thursday. Group 1 Automotive Inc. has a 52-week low of $47.31 and a 52-week high of $83.43. The firm has a market capitalization of $1.41 billion, a PE ratio of 18.73 and a beta of 1.38. The stock’s 50 day moving average price is $61.83 and its 200 day moving average price is $59.57.
Group 1 Automotive (NYSE:GPI) last announced its earnings results on Thursday, October 20th. The company reported $1.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by $0.13. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.89 billion. Group 1 Automotive had a return on equity of 17.77% and a net margin of 0.72%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business earned $1.91 earnings per share. On average, analysts predict that Group 1 Automotive Inc. will post $7.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, November 29th. Group 1 Automotive’s dividend payout ratio is currently 24.02%.
A number of hedge funds and other institutional investors have recently made changes to their positions in GPI. Hillcrest Asset Management LLC raised its position in shares of Group 1 Automotive by 1.3% in the third quarter. Hillcrest Asset Management LLC now owns 81,333 shares of the company’s stock valued at $5,196,000 after buying an additional 1,067 shares in the last quarter. Gotham Asset Management LLC acquired a new position in Group 1 Automotive during the third quarter valued at $8,632,000. Clinton Group Inc. acquired a new position in Group 1 Automotive during the third quarter valued at $760,000. The Manufacturers Life Insurance Company acquired a new position in Group 1 Automotive during the third quarter valued at $97,705,000. Finally, Weiss Asset Management LP acquired a new position in Group 1 Automotive during the third quarter valued at $249,000. 98.21% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on GPI shares. Buckingham Research raised Group 1 Automotive from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 20th. Seaport Global Securities started coverage on Group 1 Automotive in a research note on Tuesday, August 9th. They issued a “neutral” rating for the company. TheStreet raised Group 1 Automotive from a “hold” rating to a “buy” rating in a research note on Thursday, September 15th. Zacks Investment Research raised Group 1 Automotive from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Tuesday, September 27th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $61.00 target price (down from $64.00) on shares of Group 1 Automotive in a research note on Saturday, October 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Group 1 Automotive has a consensus rating of “Hold” and a consensus price target of $64.00.
About Group 1 Automotive
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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