Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Group 1 Automotive, Inc. (NYSE:GPI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,675 shares of the company’s stock, valued at approximately $109,000.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Group 1 Automotive by 13.2% in the 1st quarter. BlackRock Inc. now owns 2,949,848 shares of the company’s stock worth $192,744,000 after buying an additional 343,818 shares during the last quarter. Northern Trust Corp lifted its position in shares of Group 1 Automotive by 3.0% in the 2nd quarter. Northern Trust Corp now owns 846,026 shares of the company’s stock worth $53,300,000 after buying an additional 24,446 shares during the last quarter. OppenheimerFunds Inc. lifted its position in shares of Group 1 Automotive by 2.9% in the 2nd quarter. OppenheimerFunds Inc. now owns 625,444 shares of the company’s stock worth $39,404,000 after buying an additional 17,350 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Group 1 Automotive by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 389,327 shares of the company’s stock worth $24,527,000 after buying an additional 1,416 shares during the last quarter. Finally, Towle & Co. lifted its position in shares of Group 1 Automotive by 9.1% in the 2nd quarter. Towle & Co. now owns 387,099 shares of the company’s stock worth $24,387,000 after buying an additional 32,330 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.
GPI has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Friday, September 28th. ValuEngine cut shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a report on Friday, June 29th. Stephens raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a report on Monday, August 6th. Finally, Morgan Stanley increased their price objective on shares of Group 1 Automotive from $59.00 to $64.00 and gave the stock a “sell” rating in a report on Wednesday, August 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $84.33.
GPI stock opened at $55.01 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.26 and a current ratio of 1.07. Group 1 Automotive, Inc. has a fifty-two week low of $53.82 and a fifty-two week high of $84.47. The stock has a market capitalization of $1.29 billion, a P/E ratio of 7.12, a PEG ratio of 4.44 and a beta of 1.96.
Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Thursday, July 26th. The company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.31. Group 1 Automotive had a net margin of 1.97% and a return on equity of 15.73%. The business had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the company earned $1.87 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts forecast that Group 1 Automotive, Inc. will post 8.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th were issued a $0.26 dividend. The ex-dividend date was Friday, August 31st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.89%. Group 1 Automotive’s dividend payout ratio (DPR) is presently 13.45%.
In related news, Director Lincoln Pereira sold 25,000 shares of the stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $79.45, for a total value of $1,986,250.00. Following the sale, the director now owns 67,425 shares of the company’s stock, valued at approximately $5,356,916.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Frank Grese sold 5,000 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $76.98, for a total transaction of $384,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,200 shares of company stock worth $3,012,805. Corporate insiders own 4.95% of the company’s stock.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. It sells new and used cars, light trucks, and vehicle parts; arranges vehicle financing; sells service and insurance contracts; and provides automotive maintenance and repair services. The company has operations primarily in the metropolitan areas of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 28 towns in the United Kingdom; and in the metropolitan markets of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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