KBC Group NV Reduces Stock Position in Group 1 Automotive, Inc. $GPI

KBC Group NV lessened its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 39.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377 shares of the company’s stock after selling 243 shares during the period. KBC Group NV’s holdings in Group 1 Automotive were worth $165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Elequin Capital LP acquired a new stake in Group 1 Automotive during the 1st quarter worth about $29,000. Signaturefd LLC boosted its stake in shares of Group 1 Automotive by 90.5% in the second quarter. Signaturefd LLC now owns 80 shares of the company’s stock worth $35,000 after buying an additional 38 shares during the last quarter. Assetmark Inc. grew its holdings in Group 1 Automotive by 25.8% during the second quarter. Assetmark Inc. now owns 122 shares of the company’s stock worth $53,000 after acquiring an additional 25 shares during the period. Kestra Investment Management LLC purchased a new position in Group 1 Automotive during the first quarter valued at approximately $64,000. Finally, Flaharty Asset Management LLC acquired a new position in Group 1 Automotive in the first quarter valued at approximately $115,000. 99.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Group 1 Automotive news, Director Lincoln Pereira sold 7,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $469.34, for a total transaction of $3,285,380.00. Following the completion of the transaction, the director owned 82,967 shares of the company’s stock, valued at $38,939,731.78. This represents a 7.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.10% of the company’s stock.

Group 1 Automotive Stock Performance

NYSE:GPI opened at $391.54 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.24 and a current ratio of 1.06. The stock has a market capitalization of $4.95 billion, a PE ratio of 13.70, a P/E/G ratio of 1.09 and a beta of 0.91. Group 1 Automotive, Inc. has a fifty-two week low of $355.91 and a fifty-two week high of $490.09. The company has a fifty day moving average of $425.09 and a two-hundred day moving average of $435.45.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Tuesday, October 28th. The company reported $10.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.64 by ($0.19). The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.67 billion. Group 1 Automotive had a net margin of 1.67% and a return on equity of 18.08%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business earned $9.90 EPS. As a group, research analysts forecast that Group 1 Automotive, Inc. will post 41 earnings per share for the current fiscal year.

Group 1 Automotive announced that its Board of Directors has approved a stock buyback program on Tuesday, November 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 10.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Group 1 Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, December 1st. Group 1 Automotive’s payout ratio is 7.00%.

Analyst Ratings Changes

A number of brokerages have recently commented on GPI. Barclays assumed coverage on shares of Group 1 Automotive in a research note on Tuesday, November 11th. They set an “overweight” rating and a $510.00 price objective on the stock. Zacks Research lowered shares of Group 1 Automotive from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Group 1 Automotive in a report on Thursday, November 13th. Wall Street Zen lowered shares of Group 1 Automotive from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, JPMorgan Chase & Co. dropped their target price on Group 1 Automotive from $435.00 to $410.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Group 1 Automotive currently has an average rating of “Moderate Buy” and a consensus price target of $478.88.

Group 1 Automotive 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.