Eventide Asset Management LLC Trims Position in Group 1 Automotive, Inc. $GPI

Eventide Asset Management LLC cut its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,823 shares of the company’s stock after selling 5,343 shares during the period. Eventide Asset Management LLC owned 0.51% of Group 1 Automotive worth $25,152,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Signaturefd LLC increased its stake in shares of Group 1 Automotive by 54.9% during the fourth quarter. Signaturefd LLC now owns 79 shares of the company’s stock valued at $31,000 after buying an additional 28 shares during the period. First Horizon Corp boosted its position in shares of Group 1 Automotive by 881.8% during the fourth quarter. First Horizon Corp now owns 108 shares of the company’s stock valued at $42,000 after purchasing an additional 97 shares in the last quarter. Torren Management LLC bought a new stake in shares of Group 1 Automotive during the fourth quarter valued at approximately $43,000. Assetmark Inc. boosted its position in shares of Group 1 Automotive by 40.5% during the fourth quarter. Assetmark Inc. now owns 118 shares of the company’s stock valued at $46,000 after purchasing an additional 34 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of Group 1 Automotive during the third quarter valued at approximately $55,000. 99.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GPI has been the topic of several research reports. Benchmark upgraded Group 1 Automotive from a “hold” rating to a “buy” rating and set a $425.00 price target on the stock in a research report on Monday, March 30th. JPMorgan Chase & Co. lifted their price target on Group 1 Automotive from $385.00 to $390.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Barclays lifted their price target on Group 1 Automotive from $455.00 to $470.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Citigroup lifted their price target on Group 1 Automotive from $420.00 to $462.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, Morgan Stanley dropped their price target on Group 1 Automotive from $460.00 to $400.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $441.25.

Group 1 Automotive Trading Up 0.0%

Group 1 Automotive stock opened at $325.07 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.21 and a debt-to-equity ratio of 1.00. The business’s fifty day simple moving average is $331.07 and its two-hundred day simple moving average is $354.29. Group 1 Automotive, Inc. has a 12 month low of $292.44 and a 12 month high of $488.39. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 0.74 and a beta of 0.81.

Group 1 Automotive (NYSE:GPI) last released its earnings results on Thursday, April 30th. The company reported $8.66 EPS for the quarter, missing the consensus estimate of $8.82 by ($0.16). Group 1 Automotive had a return on equity of 16.63% and a net margin of 1.46%.The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same period last year, the firm posted $10.17 earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year. As a group, equities analysts predict that Group 1 Automotive, Inc. will post 42.37 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, June 1st. Group 1 Automotive’s payout ratio is 8.40%.

Group 1 Automotive Profile

Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.

Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.