Conifer Management, L.L.C. Buys 37,650 Shares of Group 1 Automotive (NYSE:GPI) Stock

Group 1 Automotive, Inc. (NYSE:GPI) major shareholder Conifer Management, L.L.C. bought 37,650 shares of the firm’s stock in a transaction dated Friday, September 18th. The shares were acquired at an average price of $249.88 per share, with a total value of $9,407,982.00. Following the completion of the transaction, the insider owned 1,512,290 shares of the company’s stock, valued at approximately $377,891,025.20. The trade was a 2.55% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large 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 17th, Conifer Management, L.L.C. purchased 28,000 shares of Group 1 Automotive stock. The stock was bought 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. purchased 36,647 shares of Group 1 Automotive stock. The stock was bought at an average cost of $280.86 per share, for a total transaction of $10,292,676.42.
• On Wednesday, September 9th, Conifer Management, L.L.C. acquired 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. acquired 57,159 shares of Group 1 Automotive stock. The stock was bought at an average cost of $300.15 per share, with a total value of $17,156,273.85.
• On Thursday, September 3rd, Conifer Management, L.L.C. bought 83,121 shares of Group 1 Automotive stock. The stock was 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. bought 26,561 shares of Group 1 Automotive stock. The shares were bought at an average cost of $276.03 per share, for a total transaction of $7,331,632.83.
• On Tuesday, September 1st, Conifer Management, L.L.C. purchased 3,539 shares of Group 1 Automotive stock. The shares were bought at an average cost of $269.66 per share, with a total value of $954,326.74.

Group 1 Automotive Trading Up 2.1%

Shares of NYSE GPI traded up $5.08 during trading hours on Monday, reaching $251.50. The stock had a trading volume of 213,995 shares, compared to its average volume of 192,518. The company has a current ratio of 1.02, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 10.47, a P/E/G ratio of 0.74 and a beta of 0.82. The business’s fifty day moving average price is $285.70 and its two-hundred day moving average price is $309.20. Group 1 Automotive, Inc. has a 52-week low of $246.21 and a 52-week high of $461.27.

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

Group 1 Automotive Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Anchor Investment Management LLC lifted its position in Group 1 Automotive by 112.0% during the second quarter. Anchor Investment Management LLC now owns 212 shares of the company’s stock valued at $62,000 after acquiring an additional 112 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Group 1 Automotive by 352.3% during the 2nd quarter. Tidal Investments LLC now owns 2,786 shares of the company’s stock valued at $811,000 after purchasing an additional 2,170 shares during the last quarter. Engineers Gate Manager LP boosted its position in shares of Group 1 Automotive by 81.4% in the 2nd quarter. Engineers Gate Manager LP now owns 26,173 shares of the company’s stock worth $7,621,000 after purchasing an additional 11,748 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Group 1 Automotive in the second quarter valued at about $42,000. Finally, Allworth Financial LP boosted its holdings in Group 1 Automotive by 444.7% in the second quarter. Allworth Financial LP now owns 256 shares of the company’s stock worth $75,000 after acquiring an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. DA Davidson set a $425.00 price objective on shares of Group 1 Automotive in a research note on Friday, July 10th. Benchmark reissued a “buy” rating on shares of Group 1 Automotive in a research report on Friday, July 10th. JPMorgan Chase & Co. cut shares of Group 1 Automotive from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $380.00 to $320.00 in a research report on Friday, July 31st. UBS Group dropped their price objective on shares of 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, Barclays cut their price objective on shares of Group 1 Automotive from $435.00 to $365.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Group 1 Automotive has a consensus rating of “Hold” and a consensus target price of $373.38.

About Group 1 Automotive

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.