Insider Buying: Group 1 Automotive (NYSE:GPI) Major Shareholder Acquires $23,492,488.23 in Stock

by · The Markets Daily

Group 1 Automotive, Inc. (NYSE:GPI – Get Free Report) major shareholder Conifer Management, L.L.C. acquired 83,121 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was acquired at an average price of $282.63 per share, with a total value of $23,492,488.23. Following the completion of the transaction, the insider directly owned 1,305,481 shares in the company, valued at $368,968,095.03. This trade represents a 6.80% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Friday, September 4th, Conifer Management, L.L.C. bought 57,159 shares of Group 1 Automotive stock. The shares were bought at an average price of $300.15 per share, for a total transaction of $17,156,273.85.
  • On Wednesday, September 2nd, Conifer Management, L.L.C. purchased 26,561 shares of Group 1 Automotive stock. The stock was 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 stock was bought at an average price of $269.66 per share, with a total value of $954,326.74.

Group 1 Automotive Stock Down 2.0%

Shares of GPI stock opened at $282.04 on Friday. Group 1 Automotive, Inc. has a 12-month low of $249.54 and a 12-month high of $488.39. The company has a quick ratio of 0.25, a current ratio of 1.02 and a debt-to-equity ratio of 1.03. The firm has a fifty day moving average of $289.22 and a 200-day moving average of $311.88. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 0.87 and a beta of 0.82.

Group 1 Automotive (NYSE:GPI – Get Free Report) last posted 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 company had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.66 billion. Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.66%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.82 earnings per share. As a group, equities research analysts predict that Group 1 Automotive, Inc. will post 38.96 earnings per share for the current fiscal year.

Group 1 Automotive Dividend Announcement

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

Hedge Funds Weigh In On Group 1 Automotive

A number of hedge funds and other institutional investors have recently bought and sold shares of GPI. Johnson Financial Group Inc. bought a new stake in Group 1 Automotive in the third quarter valued at approximately $55,000. Integrated Wealth Concepts LLC bought a new position in shares of Group 1 Automotive during the 2nd quarter worth approximately $42,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Group 1 Automotive during the 4th quarter worth approximately $57,000. Global Retirement Partners LLC raised its stake in Group 1 Automotive by 78.5% in the 4th quarter. Global Retirement Partners LLC now owns 191 shares of the company’s stock valued at $75,000 after acquiring an additional 84 shares during the period. Finally, State of Wyoming raised its stake in Group 1 Automotive by 28.2% in the 4th quarter. State of Wyoming now owns 191 shares of the company’s stock valued at $75,000 after acquiring an additional 42 shares during the period. Institutional investors own 99.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays cut their price target on shares of Group 1 Automotive from $435.00 to $365.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 19th. Weiss Ratings cut Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. DA Davidson set a $425.00 target price on Group 1 Automotive in a research report on Friday, July 10th. Zacks Research lowered Group 1 Automotive from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Finally, Benchmark restated a “buy” rating on shares of Group 1 Automotive in a research note on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Group 1 Automotive has an average rating of “Hold” and a consensus target price of $373.38.

View Our Latest Stock Analysis on Group 1 Automotive

Group 1 Automotive Company Profile

(Get Free Report)

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.

Featured Articles