Allspring Global Investments Holdings LLC Sells 12,702 Shares of Group 1 Automotive, Inc. $GPI

Allspring Global Investments Holdings LLC decreased its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 18.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,056 shares of the company’s stock after selling 12,702 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Group 1 Automotive were worth $14,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GPI. Corient Private Wealth LP boosted its holdings in shares of Group 1 Automotive by 6.2% in the second quarter. Corient Private Wealth LP now owns 702 shares of the company’s stock worth $204,000 after acquiring an additional 41 shares during the period. Bessemer Group Inc. lifted its holdings in Group 1 Automotive by 0.9% during the 1st quarter. Bessemer Group Inc. now owns 7,734 shares of the company’s stock worth $2,556,000 after purchasing an additional 70 shares in the last quarter. Salomon & Ludwin LLC lifted its holdings in Group 1 Automotive by 445.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 107 shares in the last quarter. Anchor Investment Management LLC lifted its holdings in Group 1 Automotive by 112.0% during the 2nd quarter. Anchor Investment Management LLC now owns 212 shares of the company’s stock worth $62,000 after purchasing an additional 112 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Group 1 Automotive by 63.7% in the 2nd quarter. Versant Capital Management Inc now owns 370 shares of the company’s stock worth $108,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Stock Performance

NYSE:GPI opened at $260.15 on Friday. The stock has a market cap of $3.11 billion, a P/E ratio of 8.23, a PEG ratio of 2.00 and a beta of 0.96. The company has a quick ratio of 0.57, a current ratio of 1.32 and a debt-to-equity ratio of 1.18. The business’s 50-day moving average price is $254.29 and its two-hundred day moving average price is $300.84. Group 1 Automotive, Inc. has a twelve month low of $224.65 and a twelve month high of $429.00.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $9.36 EPS for the quarter, missing the consensus estimate of $9.50 by ($0.14). Group 1 Automotive had a return on equity of 14.91% and a net margin of 1.75%. The business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.58 billion. During the same period in the previous year, the firm posted $10.45 EPS. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, equities analysts predict that Group 1 Automotive, Inc. will post 37.13 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 1st. Group 1 Automotive’s dividend payout ratio is currently 6.96%.

Analyst Ratings Changes

A number of research firms have weighed in on GPI. Barclays reduced their target price on Group 1 Automotive from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, October 30th. Jefferies Financial Group set a $250.00 price target on shares of Group 1 Automotive in a report on Wednesday, November 4th. Seaport Research Partners set a $420.00 price objective on shares of Group 1 Automotive in a research report on Monday, August 3rd. Weiss Ratings raised shares of Group 1 Automotive from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 30th. Finally, UBS Group decreased their target price on shares of Group 1 Automotive from $271.00 to $259.00 and set a “neutral” rating on the stock in a report on Thursday, October 29th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $330.10.

Insider Buying and Selling at Group 1 Automotive

In other Group 1 Automotive news, Director Steven Mizell sold 550 shares of Group 1 Automotive stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $260.52, for a total transaction of $143,286.00. Following the transaction, the director directly owned 33 shares of the company’s stock, valued at approximately $8,597.16. This trade represents a 94.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Conifer Management, L.L.C. acquired 20,471 shares of the stock in a transaction dated Monday, October 26th. The stock was acquired at an average price of $246.14 per share, with a total value of $5,038,731.94. Following the completion of the acquisition, the insider owned 2,012,290 shares in the company, valued at approximately $495,305,060.60. The trade was a 1.03% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 820,030 shares of company stock worth $211,496,571 over the last 90 days. Corporate insiders own 2.40% of the company’s stock.

Group 1 Automotive Profile

Group 1 Automotive, Inc. is an international automotive retailer headquartered in Houston, Texas. Founded in 1997, the company operates franchised dealerships and collision centers in the United States and the United Kingdom. Its dealerships sell new and used vehicles from a range of manufacturers and provide related services, including vehicle maintenance and repair, parts sales, collision repair, and automotive financing and insurance products. Group 1’s business also includes manufacturer-authorized service operations and parts departments that support customers throughout vehicle ownership.