First Trust Direct Indexing L.P. Makes New Investment in Group 1 Automotive, Inc. (NYSE:GPI)

First Trust Direct Indexing L.P. purchased a new position in shares of Group 1 Automotive, Inc. (NYSE:GPI) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 721 shares of the company’s stock, valued at approximately $220,000.

Other large investors have also made changes to their positions in the company. Hsbc Holdings PLC lifted its stake in Group 1 Automotive by 47.5% in the third quarter. Hsbc Holdings PLC now owns 15,051 shares of the company’s stock valued at $4,082,000 after acquiring an additional 4,844 shares during the last quarter. Burney Co. lifted its stake in shares of Group 1 Automotive by 11.0% in the 3rd quarter. Burney Co. now owns 70,085 shares of the company’s stock valued at $18,832,000 after purchasing an additional 6,946 shares during the last quarter. Covalis Capital LLP bought a new position in Group 1 Automotive during the third quarter valued at about $16,330,000. Boston Partners acquired a new stake in shares of Group 1 Automotive in the third quarter worth about $12,703,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Group 1 Automotive during the 4th quarter worth about $2,103,000. Institutional investors own 99.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GPI shares. Morgan Stanley upgraded Group 1 Automotive from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $200.00 to $255.00 in a report on Thursday, February 29th. Stephens reaffirmed an “overweight” rating and set a $330.00 price objective on shares of Group 1 Automotive in a report on Tuesday, February 13th. StockNews.com downgraded shares of Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. decreased their price target on shares of Group 1 Automotive from $315.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Guggenheim upgraded Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price objective on the stock in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $330.83.

Group 1 Automotive Price Performance

Shares of Group 1 Automotive stock opened at $299.23 on Thursday. The firm has a fifty day moving average price of $278.57 and a two-hundred day moving average price of $277.53. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.04 and a quick ratio of 0.27. The company has a market cap of $4.05 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 1.48 and a beta of 1.38. Group 1 Automotive, Inc. has a fifty-two week low of $215.38 and a fifty-two week high of $310.08.

Group 1 Automotive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.63%. Group 1 Automotive’s payout ratio is currently 4.44%.

Insider Activity at Group 1 Automotive

In other Group 1 Automotive news, VP Michael David Jones sold 1,400 shares of Group 1 Automotive stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $294.63, for a total transaction of $412,482.00. Following the sale, the vice president now owns 11,535 shares in the company, valued at $3,398,557.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by corporate insiders.

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.