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Convergence Investment Partners LLC trimmed its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI – Free Report) by 38.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,022 shares of the company’s stock after selling 630 shares during the quarter. Convergence Investment Partners LLC’s holdings in Group 1 Automotive were worth $231,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of Group 1 Automotive by 2.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,782 shares of the company’s stock valued at $321,000 after buying an additional 51 shares during the period. Neuberger Berman Group LLC raised its stake in shares of Group 1 Automotive by 2.8% in the third quarter. Neuberger Berman Group LLC now owns 2,180 shares of the company’s stock valued at $312,000 after buying an additional 59 shares during the period. ETF Managers Group LLC raised its stake in shares of Group 1 Automotive by 1.5% during the 1st quarter. ETF Managers Group LLC now owns 4,319 shares of the company’s stock valued at $978,000 after purchasing an additional 64 shares during the period. Delphia USA Inc. increased its stake in Group 1 Automotive by 2.9% in the 4th quarter. Delphia USA Inc. now owns 2,411 shares of the company’s stock worth $435,000 after acquiring an additional 67 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Group 1 Automotive by 1.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,243 shares of the company’s stock worth $765,000 after purchasing an additional 71 shares in the last quarter. 99.92% of the stock is currently owned by institutional investors.
Group 1 Automotive Price Performance
Shares of NYSE:GPI opened at $261.64 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.30 and a current ratio of 1.11. The company has a 50-day simple moving average of $252.44 and a 200-day simple moving average of $231.93. Group 1 Automotive, Inc. has a one year low of $136.16 and a one year high of $271.94. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 5.68, a PEG ratio of 2.00 and a beta of 1.46.
Group 1 Automotive (NYSE:GPI – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $11.73 EPS for the quarter, beating the consensus estimate of $11.08 by $0.65. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.36 billion. Group 1 Automotive had a net margin of 3.98% and a return on equity of 28.33%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business posted $12.00 EPS. On average, analysts predict that Group 1 Automotive, Inc. will post 42.77 EPS for the current year.
Group 1 Automotive Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, August 31st. Group 1 Automotive’s payout ratio is presently 3.88%.
Insider Buying and Selling at Group 1 Automotive
In other Group 1 Automotive news, VP Peter C. Delongchamps sold 10,000 shares of Group 1 Automotive stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $246.00, for a total value of $2,460,000.00. Following the completion of the sale, the vice president now directly owns 26,573 shares in the company, valued at $6,536,958. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Group 1 Automotive news, VP Darryl M. Burman sold 2,500 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $246.78, for a total value of $616,950.00. Following the sale, the vice president now owns 13,495 shares of the company’s stock, valued at approximately $3,330,296.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Peter C. Delongchamps sold 10,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $246.00, for a total transaction of $2,460,000.00. Following the completion of the sale, the vice president now directly owns 26,573 shares in the company, valued at approximately $6,536,958. The disclosure for this sale can be found here. Insiders sold 15,140 shares of company stock worth $3,724,700 over the last ninety days. 3.50% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several research analysts have recently issued reports on GPI shares. StockNews.com lowered Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. JPMorgan Chase & Co. boosted their price objective on Group 1 Automotive from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. Benchmark boosted their price target on Group 1 Automotive from $300.00 to $340.00 in a report on Monday, July 31st. Stephens boosted their price objective on shares of Group 1 Automotive from $295.00 to $350.00 in a research note on Wednesday, July 19th. Finally, Bank of America upped their target price on Group 1 Automotive from $430.00 to $445.00 in a research report on Thursday, July 6th.
About Group 1 Automotive
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.
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