Quantbot Technologies LP acquired a new stake in shares of Group 1 Automotive, Inc. (NYSE:GPI – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,652 shares of the company’s stock, valued at approximately $2,228,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its stake in shares of Group 1 Automotive by 366,770.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 25,431,464 shares of the company’s stock valued at $10,002,195,000 after buying an additional 25,424,532 shares during the period. BlackRock Inc. acquired a new position in Group 1 Automotive during the 2nd quarter worth approximately $593,420,000. Norges Bank acquired a new position in Group 1 Automotive during the 4th quarter worth approximately $98,125,000. Bank of New York Mellon Corp bought a new position in Group 1 Automotive in the second quarter worth approximately $27,000,000. Finally, Franklin Resources Inc. boosted its holdings in Group 1 Automotive by 968.8% in the third quarter. Franklin Resources Inc. now owns 84,412 shares of the company’s stock worth $36,931,000 after acquiring an additional 76,514 shares in the last quarter. Institutional investors own 99.92% of the company’s stock.
Group 1 Automotive Price Performance
GPI stock opened at $259.48 on Tuesday. The company has a market capitalization of $3.09 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 0.79 and a beta of 0.82. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 1.02. Group 1 Automotive, Inc. has a 52-week low of $249.54 and a 52-week high of $488.39. The business has a 50-day simple moving average of $296.55 and a two-hundred day simple moving average of $317.45.
Group 1 Automotive Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.20 annualized dividend and a yield of 0.8%. Group 1 Automotive’s dividend payout ratio is 9.16%.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Zacks Research downgraded Group 1 Automotive from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Citigroup increased their target price on Group 1 Automotive from $420.00 to $462.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Benchmark reissued a “buy” rating on shares of Group 1 Automotive in a research report on Friday, July 10th. Weiss Ratings lowered shares of Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. Finally, Morgan Stanley restated an “equal weight” rating and set a $300.00 price objective (down from $400.00) on shares of Group 1 Automotive in a report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $392.44.
Check Out Our Latest Stock Analysis on Group 1 Automotive
Group 1 Automotive Profile
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.
Featured Stories
- Five stocks we like better than Group 1 Automotive
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
Want to see what other hedge funds are holding GPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Group 1 Automotive, Inc. (NYSE:GPI – Free Report).
Receive News & Ratings for Group 1 Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Group 1 Automotive and related companies with MarketBeat.com's FREE daily email newsletter.
