Convergence Investment Partners LLC Sells 495 Shares of Group 1 Automotive, Inc. $GPI

Convergence Investment Partners LLC lessened its stake in Group 1 Automotive, Inc. (NYSE:GPI) by 17.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,320 shares of the company’s stock after selling 495 shares during the quarter. Convergence Investment Partners LLC’s holdings in Group 1 Automotive were worth $1,013,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GPI. Elequin Capital LP bought a new stake in shares of Group 1 Automotive in the 1st quarter worth approximately $29,000. Signaturefd LLC raised its holdings in shares of Group 1 Automotive by 90.5% in the 2nd quarter. Signaturefd LLC now owns 80 shares of the company’s stock worth $35,000 after purchasing an additional 38 shares during the period. Bessemer Group Inc. raised its holdings in shares of Group 1 Automotive by 60.3% in the 1st quarter. Bessemer Group Inc. now owns 109 shares of the company’s stock worth $41,000 after purchasing an additional 41 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Group 1 Automotive in the 1st quarter worth approximately $64,000. Finally, GAMMA Investing LLC raised its holdings in shares of Group 1 Automotive by 95.9% in the 1st quarter. GAMMA Investing LLC now owns 237 shares of the company’s stock worth $91,000 after purchasing an additional 116 shares during the period. Institutional investors own 99.92% of the company’s stock.

Insider Transactions at Group 1 Automotive

In related news, Director Lincoln Pereira sold 7,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $469.34, for a total value of $3,285,380.00. Following the completion of the transaction, the director directly owned 82,967 shares in the company, valued at approximately $38,939,731.78. The trade was a 7.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GPI. Weiss Ratings reissued a “buy (b)” rating on shares of Group 1 Automotive in a report on Wednesday, October 8th. Morgan Stanley boosted their target price on shares of Group 1 Automotive from $470.00 to $485.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. JPMorgan Chase & Co. boosted their target price on shares of Group 1 Automotive from $430.00 to $435.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Wall Street Zen cut shares of Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Bank of America lowered their target price on shares of Group 1 Automotive from $560.00 to $545.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $478.00.

Group 1 Automotive Trading Down 1.1%

Group 1 Automotive stock opened at $419.38 on Tuesday. The stock has a market cap of $5.43 billion, a P/E ratio of 11.56, a PEG ratio of 1.14 and a beta of 0.85. Group 1 Automotive, Inc. has a fifty-two week low of $348.00 and a fifty-two week high of $490.09. The firm’s fifty day moving average price is $451.07 and its 200-day moving average price is $436.51. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.24 and a current ratio of 1.05.

Group 1 Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a $0.50 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $2.00 annualized dividend and a yield of 0.5%. Group 1 Automotive’s payout ratio is 5.51%.

Group 1 Automotive Profile

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.