SummerHaven Investment Management LLC Boosts Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

SummerHaven Investment Management LLC increased its position in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 1.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,718 shares of the company’s stock after purchasing an additional 31 shares during the quarter. Group 1 Automotive comprises about 0.7% of SummerHaven Investment Management LLC’s holdings, making the stock its 15th largest position. SummerHaven Investment Management LLC’s holdings in Group 1 Automotive were worth $1,038,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its position in shares of Group 1 Automotive by 119.4% during the 4th quarter. Bessemer Group Inc. now owns 68 shares of the company’s stock worth $29,000 after purchasing an additional 37 shares during the period. Fifth Third Bancorp grew its position in Group 1 Automotive by 24.8% in the 1st quarter. Fifth Third Bancorp now owns 146 shares of the company’s stock valued at $56,000 after acquiring an additional 29 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Group 1 Automotive during the fourth quarter worth about $66,000. Global Retirement Partners LLC grew its holdings in shares of Group 1 Automotive by 59.3% in the fourth quarter. Global Retirement Partners LLC now owns 188 shares of the company’s stock valued at $79,000 after purchasing an additional 70 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in Group 1 Automotive during the 1st quarter worth approximately $87,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

Insider Activity

In other news, VP Michael David Jones sold 1,613 shares of the business’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $405.57, for a total value of $654,184.41. Following the completion of the sale, the vice president now directly owns 8,260 shares of the company’s stock, valued at approximately $3,350,008.20. The trade was a 16.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel James Mchenry sold 3,000 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $441.71, for a total value of $1,325,130.00. Following the completion of the sale, the chief financial officer now directly owns 16,674 shares of the company’s stock, valued at approximately $7,365,072.54. This trade represents a 15.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Group 1 Automotive Price Performance

Group 1 Automotive stock opened at $442.96 on Thursday. Group 1 Automotive, Inc. has a 12-month low of $279.86 and a 12-month high of $490.09. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The stock has a market cap of $5.73 billion, a P/E ratio of 12.05 and a beta of 0.91. The company has a fifty day simple moving average of $416.41 and a 200-day simple moving average of $427.14.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Thursday, April 24th. The company reported $10.17 EPS for the quarter, beating analysts’ consensus estimates of $9.68 by $0.49. The business had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.37 billion. Group 1 Automotive had a return on equity of 18.09% and a net margin of 2.47%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.49 EPS. Equities analysts expect that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.50 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. Group 1 Automotive’s dividend payout ratio is presently 5.61%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup raised their price target on shares of Group 1 Automotive from $463.00 to $495.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Guggenheim cut Group 1 Automotive from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lowered their target price on Group 1 Automotive from $495.00 to $435.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Finally, Wall Street Zen upgraded Group 1 Automotive from a “hold” rating to a “buy” rating in a report on Saturday, June 7th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Group 1 Automotive presently has an average rating of “Moderate Buy” and a consensus target price of $454.43.

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.