Group 1 Automotive (NYSE:GPI) Major Shareholder Buys 20,471 Shares of Stock

Group 1 Automotive, Inc. (NYSE:GPI) major shareholder Conifer Management, L.L.C. purchased 20,471 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The shares were purchased at an average cost of $246.14 per share, with a total value of $5,038,731.94. Following the completion of the acquisition, the insider owned 2,012,290 shares in the company, valued at $495,305,060.60. The trade was a 1.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more 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 Friday, October 23rd, Conifer Management, L.L.C. acquired 34,529 shares of Group 1 Automotive stock. The stock was purchased at an average cost of $242.41 per share, for a total transaction of $8,370,174.89.
• On Thursday, October 22nd, Conifer Management, L.L.C. acquired 45,000 shares of Group 1 Automotive stock. The stock was purchased at an average cost of $240.52 per share, for a total transaction of $10,823,400.00.
• On Monday, September 28th, Conifer Management, L.L.C. acquired 133,472 shares of Group 1 Automotive stock. The shares were purchased at an average price of $243.58 per share, for a total transaction of $32,511,109.76.
• On Wednesday, September 30th, Conifer Management, L.L.C. bought 71,592 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $242.03 per share, with a total value of $17,327,411.76.
• On Tuesday, September 29th, Conifer Management, L.L.C. bought 68,648 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $239.48 per share, with a total value of $16,439,823.04.
• On Friday, September 25th, Conifer Management, L.L.C. bought 50,532 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $252.06 per share, with a total value of $12,737,095.92.
• On Thursday, September 24th, Conifer Management, L.L.C. purchased 75,756 shares of Group 1 Automotive stock. The stock was acquired at an average price of $248.00 per share, for a total transaction of $18,787,488.00.
• On Friday, September 18th, Conifer Management, L.L.C. purchased 37,650 shares of Group 1 Automotive stock. The stock was acquired at an average price of $249.88 per share, for a total transaction of $9,407,982.00.
• On Thursday, September 17th, Conifer Management, L.L.C. acquired 28,000 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $266.06 per share, with a total value of $7,449,680.00.
• On Thursday, September 10th, Conifer Management, L.L.C. acquired 36,647 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $280.86 per share, with a total value of $10,292,676.42.

Group 1 Automotive Stock Performance

Shares of NYSE:GPI traded down $0.72 on Monday, reaching $244.25. 235,954 shares of the company’s stock were exchanged, compared to its average volume of 262,904. The company has a fifty day moving average of $254.89 and a 200-day moving average of $310.29. Group 1 Automotive, Inc. has a twelve month low of $224.65 and a twelve month high of $429.00. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.50 and a beta of 0.92. The company has a current ratio of 1.02, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Thursday, July 30th. The company reported $9.61 EPS for the quarter, missing the consensus estimate of $10.60 by ($0.99). Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%. The business had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the business posted $10.82 earnings per share. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, research analysts predict that Group 1 Automotive, Inc. will post 37.68 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

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

Institutional Trading of Group 1 Automotive

Large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Group 1 Automotive during the second quarter worth $593,420,000. Conifer Management L.L.C. bought a new position in shares of Group 1 Automotive in the 2nd quarter valued at $281,561,390. Lakewood Capital Management LP bought a new position in shares of Group 1 Automotive in the 2nd quarter valued at $72,098,000. The Manufacturers Life Insurance Company bought a new position in shares of Group 1 Automotive in the 2nd quarter valued at $57,174,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Group 1 Automotive during the 2nd quarter valued at $27,000,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

Analyst Ratings Changes

GPI has been the subject of several analyst reports. Zacks Research cut Group 1 Automotive from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. UBS Group reduced their target price on Group 1 Automotive from $330.00 to $271.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Weiss Ratings cut Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. KeyCorp set a $425.00 price target on Group 1 Automotive in a research report on Wednesday, October 7th. Finally, Seaport Research Partners set a $420.00 price target on Group 1 Automotive in a research note on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $341.67.

About Group 1 Automotive

Group 1 Automotive, Inc is an international automotive retailer headquartered in Houston, Texas. The company operates dealerships that sell new and used automobiles and light trucks from a broad range of manufacturers.

In addition to vehicle sales, Group 1 Automotive provides automotive financing and insurance products, vehicle maintenance and repair, collision services, replacement parts, and other related services. Its dealerships also market vehicles through digital retailing platforms.

Founded in 1997, Group 1 Automotive serves customers through a network of dealerships and automotive service locations in the United States, the United Kingdom, and Brazil.