Entropy Technologies LP Has $558,000 Position in Group 1 Automotive, Inc. (NYSE:GPI)

Entropy Technologies LP trimmed its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 49.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,456 shares of the company’s stock after selling 1,400 shares during the period. Entropy Technologies LP’s holdings in Group 1 Automotive were worth $558,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Assetmark Inc. raised its holdings in Group 1 Automotive by 51.9% during the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock worth $31,000 after acquiring an additional 28 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Group 1 Automotive during the 3rd quarter worth approximately $36,000. Hexagon Capital Partners LLC boosted its holdings in shares of Group 1 Automotive by 53.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock valued at $43,000 after buying an additional 51 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Group 1 Automotive in the second quarter valued at $48,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Group 1 Automotive by 17.1% during the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company’s stock worth $79,000 after buying an additional 39 shares during the last quarter. Institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Trading Up 0.9 %

Shares of NYSE:GPI opened at $414.81 on Friday. Group 1 Automotive, Inc. has a 12-month low of $255.73 and a 12-month high of $422.28. The business has a 50 day moving average of $371.84 and a 200-day moving average of $338.39. The company has a quick ratio of 0.24, a current ratio of 1.00 and a debt-to-equity ratio of 0.91. The stock has a market cap of $5.53 billion, a PE ratio of 11.05, a P/E/G ratio of 2.15 and a beta of 1.33.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, beating analysts’ consensus estimates of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the prior year, the firm posted $12.07 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities research analysts forecast that Group 1 Automotive, Inc. will post 38.6 earnings per share for the current year.

Group 1 Automotive announced that its board has initiated a stock repurchase program on Tuesday, November 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 9.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Group 1 Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, December 2nd. Group 1 Automotive’s dividend payout ratio is currently 5.01%.

Insiders Place Their Bets

In related news, VP Edward Mckissic sold 79 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following the sale, the vice president now owns 6,259 shares of the company’s stock, valued at $2,340,928.59. This represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on GPI shares. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Stephens assumed coverage on Group 1 Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price objective on the stock. Bank of America reduced their target price on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. increased their price target on Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $397.80.

Group 1 Automotive Company Profile

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.