Group 1 Automotive (NYSE:GPI) Major Shareholder Buys $12,737,095.92 in Stock

Group 1 Automotive, Inc. (NYSE:GPI) major shareholder Conifer Management, L.L.C. purchased 50,532 shares of Group 1 Automotive stock in a transaction on Friday, September 25th. The stock was bought at an average price of $252.06 per share, with a total value of $12,737,095.92. Following the completion of the acquisition, the insider directly owned 1,638,578 shares of the company’s stock, valued at approximately $413,019,970.68. This trade represents a 3.18% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, September 24th, Conifer Management, L.L.C. purchased 75,756 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $248.00 per share, for a total transaction of $18,787,488.00.
• On Friday, September 18th, Conifer Management, L.L.C. purchased 37,650 shares of Group 1 Automotive stock. The stock was acquired at an average cost 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 stock was acquired at an average price of $266.06 per share, for a total transaction of $7,449,680.00.
• On Thursday, September 10th, Conifer Management, L.L.C. acquired 36,647 shares of Group 1 Automotive stock. The shares were bought at an average cost of $280.86 per share, with a total value of $10,292,676.42.
• On Wednesday, September 9th, Conifer Management, L.L.C. purchased 47,353 shares of Group 1 Automotive stock. The shares were bought at an average price of $282.48 per share, with a total value of $13,376,275.44.
• On Friday, September 4th, Conifer Management, L.L.C. purchased 57,159 shares of Group 1 Automotive stock. The shares were purchased 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. purchased 83,121 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $282.63 per share, with a total value of $23,492,488.23.
• On Wednesday, September 2nd, Conifer Management, L.L.C. bought 26,561 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $276.03 per share, with a total value of $7,331,632.83.
• On Tuesday, September 1st, Conifer Management, L.L.C. acquired 3,539 shares of Group 1 Automotive stock. The shares were bought at an average price of $269.66 per share, with a total value of $954,326.74.

Group 1 Automotive Stock Performance

Shares of Group 1 Automotive stock traded down $9.20 on Monday, reaching $242.98. 430,973 shares of the company traded hands, compared to its average volume of 195,015. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.02 and a quick ratio of 0.25. The firm has a market capitalization of $2.90 billion, a PE ratio of 10.12, a PEG ratio of 0.76 and a beta of 0.82. The company has a 50 day moving average of $279.39 and a 200 day moving average of $306.71. Group 1 Automotive, Inc. has a 52 week low of $239.18 and a 52 week high of $461.27.

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

Group 1 Automotive Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GPI shares. Barclays lowered their target price on shares of Group 1 Automotive from $435.00 to $365.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th. Benchmark reissued a “buy” rating on shares of Group 1 Automotive in a research note on Friday, July 10th. JPMorgan Chase & Co. lowered Group 1 Automotive from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $380.00 to $320.00 in a research report on Friday, July 31st. DA Davidson set a $425.00 price objective on Group 1 Automotive in a research note on Friday, July 10th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $300.00 target price (down from $400.00) on shares of Group 1 Automotive in a research note on Friday, August 7th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $360.25.

Institutional Trading of Group 1 Automotive

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Group 1 Automotive during the second quarter worth about $593,420,000. Conifer Management L.L.C. purchased a new position in shares of Group 1 Automotive in the 2nd quarter worth about $281,561,390. Dimensional Fund Advisors LP lifted its stake in shares of Group 1 Automotive by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 688,416 shares of the company’s stock worth $227,612,000 after buying an additional 10,100 shares in the last quarter. Norges Bank purchased a new position in Group 1 Automotive in the 4th quarter worth approximately $98,125,000. Finally, Lakewood Capital Management LP bought a new position in Group 1 Automotive in the 2nd quarter valued at approximately $72,098,000. 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.