Group 1 Automotive (NYSE:GPI) Major Shareholder Conifer Management, L.L.C. Buys 47,353 Shares of Stock

Group 1 Automotive, Inc. (NYSE:GPI) major shareholder Conifer Management, L.L.C. bought 47,353 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average price of $282.48 per share, for a total transaction of $13,376,275.44. Following the completion of the transaction, the insider directly owned 1,409,993 shares in the company, valued at approximately $398,294,822.64. This represents a 3.48% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 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 Thursday, September 10th, Conifer Management, L.L.C. purchased 36,647 shares of Group 1 Automotive stock. The stock was bought at an average price of $280.86 per share, with a total value of $10,292,676.42.
• On Friday, September 4th, Conifer Management, L.L.C. acquired 57,159 shares of Group 1 Automotive stock. The shares were bought at an average cost 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 shares were 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 bought at an average price of $276.03 per share, for a total transaction of $7,331,632.83.
• On Tuesday, September 1st, Conifer Management, L.L.C. acquired 3,539 shares of Group 1 Automotive stock. The stock was bought at an average cost of $269.66 per share, with a total value of $954,326.74.

Group 1 Automotive Price Performance

Shares of Group 1 Automotive stock opened at $278.24 on Friday. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 0.85 and a beta of 0.82. 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 stock has a 50 day moving average price of $289.03 and a 200-day moving average price of $311.64. Group 1 Automotive, Inc. has a one year low of $249.54 and a one year high of $485.57.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Thursday, July 30th. The company reported $9.61 earnings per share for the quarter, missing the consensus estimate of $10.60 by ($0.99). The company had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.66%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.82 EPS. Equities analysts expect that Group 1 Automotive, Inc. will post 38.96 EPS for the current year.

Group 1 Automotive Dividend Announcement

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

Wall Street Analyst Weigh In

GPI has been the subject of a number of recent analyst reports. Seaport Research Partners set a $420.00 price target on shares of Group 1 Automotive in a research note on Monday, August 3rd. Morgan Stanley reissued an “equal weight” rating and issued a $300.00 price objective (down from $400.00) on shares of Group 1 Automotive in a research note on Friday, August 7th. Evercore set a $360.00 target price on Group 1 Automotive in a research report on Tuesday, August 4th. UBS Group cut their target price on Group 1 Automotive from $338.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Finally, Benchmark reaffirmed 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 assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $373.38.

Institutional Trading of Group 1 Automotive

Large investors have recently made changes to their positions in the stock. Johnson Financial Group Inc. bought a new stake in Group 1 Automotive during the 3rd quarter valued at about $55,000. Integrated Wealth Concepts LLC bought a new position in Group 1 Automotive in the 2nd quarter worth about $42,000. Aster Capital Management DIFC Ltd bought a new position in Group 1 Automotive in the 4th quarter worth about $57,000. Global Retirement Partners LLC increased its position in shares of Group 1 Automotive by 78.5% during the fourth quarter. Global Retirement Partners LLC now owns 191 shares of the company’s stock worth $75,000 after acquiring an additional 84 shares during the period. Finally, State of Wyoming increased its position in shares of Group 1 Automotive by 28.2% during the fourth quarter. State of Wyoming now owns 191 shares of the company’s stock worth $75,000 after acquiring an additional 42 shares during the period. 99.92% of the stock is owned by hedge funds and other institutional investors.

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.