Oppenheimer Asset Management Inc. purchased a new position in Group 1 Automotive, Inc. (NYSE:GPI – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,760 shares of the company’s stock, valued at approximately $804,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Group 1 Automotive by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,766 shares of the company’s stock valued at $2,966,000 after purchasing an additional 227 shares during the last quarter. Millennium Management LLC boosted its stake in Group 1 Automotive by 20.3% during the 1st quarter. Millennium Management LLC now owns 37,028 shares of the company’s stock worth $14,143,000 after purchasing an additional 6,239 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Group 1 Automotive during the first quarter worth $229,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Group 1 Automotive by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,872 shares of the company’s stock valued at $15,993,000 after buying an additional 2,452 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Group 1 Automotive by 46.7% in the second quarter. American Century Companies Inc. now owns 2,753 shares of the company’s stock valued at $1,202,000 after buying an additional 877 shares during the last quarter. 99.92% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Seaport Research Partners set a $420.00 price objective on shares of Group 1 Automotive in a report on Monday, August 3rd. Evercore set a $360.00 target price on Group 1 Automotive in a report on Tuesday, August 4th. DA Davidson set a $425.00 price target on Group 1 Automotive in a research report on Friday, July 10th. JPMorgan Chase & Co. cut Group 1 Automotive from an “overweight” rating to a “neutral” rating and cut their price target for the company from $380.00 to $320.00 in a report on Friday, July 31st. Finally, Weiss Ratings downgraded Group 1 Automotive from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Group 1 Automotive presently has an average rating of “Hold” and a consensus target price of $400.22.
Group 1 Automotive Price Performance
NYSE:GPI opened at $258.57 on Tuesday. Group 1 Automotive, Inc. has a 52 week low of $256.96 and a 52 week high of $488.39. The company has a quick ratio of 0.25, a current ratio of 1.02 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $3.08 billion, a P/E ratio of 10.77, a P/E/G ratio of 0.80 and a beta of 0.82. The stock’s fifty day moving average is $303.19 and its two-hundred day moving average is $321.07.
Group 1 Automotive (NYSE:GPI – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $9.61 earnings per share for the quarter, missing analysts’ consensus estimates of $10.60 by ($0.99). The business had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%.The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.82 earnings per share. Equities analysts expect that Group 1 Automotive, Inc. will post 38.96 EPS for the current year.
Group 1 Automotive Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Group 1 Automotive’s dividend payout ratio (DPR) is 9.16%.
About Group 1 Automotive
Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.
Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.
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