Group 1 Automotive, Inc. (NYSE:GPI – Get Free Report) major shareholder Conifer Management, L.L.C. bought 36,647 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were bought at an average price of $280.86 per share, for a total transaction of $10,292,676.42. Following the completion of the acquisition, the insider owned 1,446,640 shares in the company, valued at approximately $406,303,310.40. This trade represents a 2.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Conifer Management, L.L.C. also recently made the following trade(s):
- On Wednesday, September 9th, Conifer Management, L.L.C. purchased 47,353 shares of Group 1 Automotive stock. The stock was bought at an average price of $282.48 per share, with a total value of $13,376,275.44.
- On Friday, September 4th, Conifer Management, L.L.C. acquired 57,159 shares of Group 1 Automotive stock. The shares were purchased at an average price of $300.15 per share, for a total transaction of $17,156,273.85.
- On Thursday, September 3rd, Conifer Management, L.L.C. bought 83,121 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $282.63 per share, for a total transaction of $23,492,488.23.
- On Wednesday, September 2nd, Conifer Management, L.L.C. bought 26,561 shares of Group 1 Automotive stock. The stock was purchased at an average price of $276.03 per share, with a total value of $7,331,632.83.
- On Tuesday, September 1st, Conifer Management, L.L.C. purchased 3,539 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $269.66 per share, with a total value of $954,326.74.
Group 1 Automotive Stock Down 1.3%
Group 1 Automotive stock traded down $3.60 during midday trading on Friday, hitting $278.24. 121,142 shares of the stock were exchanged, compared to its average volume of 189,817. Group 1 Automotive, Inc. has a 1 year low of $249.54 and a 1 year high of $485.57. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.02 and a quick ratio of 0.25. The firm has a market cap of $3.32 billion, a P/E ratio of 11.59, a P/E/G ratio of 0.87 and a beta of 0.82. The company has a 50 day moving average price of $289.22 and a two-hundred day moving average price of $311.88.
Group 1 Automotive Dividend Announcement
The firm 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 $0.55 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.20 dividend on an annualized basis and a yield of 0.8%. Group 1 Automotive’s dividend payout ratio is currently 9.16%.
Analyst Ratings Changes
Several equities research analysts have issued reports on the company. Seaport Research Partners set a $420.00 price objective on Group 1 Automotive in a report on Monday, August 3rd. Barclays reduced their target price on Group 1 Automotive from $435.00 to $365.00 and set an “overweight” rating for the company in a research note on Wednesday, August 19th. UBS Group dropped their price target on shares of Group 1 Automotive from $338.00 to $330.00 and set a “neutral” rating for the company in a research note on Friday, July 10th. Benchmark reaffirmed a “buy” rating on shares of Group 1 Automotive in a report on Friday, July 10th. Finally, DA Davidson set a $425.00 price objective on shares of Group 1 Automotive in a research note on Friday, July 10th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $373.38.
Hedge Funds Weigh In On Group 1 Automotive
Several large investors have recently added to or reduced their stakes in GPI. NewEdge Advisors LLC increased its position in Group 1 Automotive by 6.1% in the 2nd quarter. NewEdge Advisors LLC now owns 471 shares of the company’s stock valued at $206,000 after acquiring an additional 27 shares in the last quarter. Lido Advisors LLC grew its stake in shares of Group 1 Automotive by 3.4% during the fourth quarter. Lido Advisors LLC now owns 935 shares of the company’s stock valued at $399,000 after purchasing an additional 31 shares during the last quarter. Evergreen Capital Management LLC grew its stake in shares of Group 1 Automotive by 3.3% during the second quarter. Evergreen Capital Management LLC now owns 1,156 shares of the company’s stock valued at $505,000 after purchasing an additional 37 shares during the last quarter. Corient Private Wealth LP boosted its holdings in Group 1 Automotive by 6.2% in the second quarter. Corient Private Wealth LP now owns 702 shares of the company’s stock valued at $204,000 after acquiring an additional 41 shares during the last quarter. Finally, State of Wyoming increased its position in Group 1 Automotive by 28.2% in the fourth quarter. State of Wyoming now owns 191 shares of the company’s stock worth $75,000 after purchasing an additional 42 shares during the period. 99.92% of the stock is currently owned by institutional investors.
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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