Group 1 Automotive, Inc. (NYSE:GPI – Get Free Report) major shareholder Conifer Management, L.L.C. bought 28,000 shares of Group 1 Automotive stock in a transaction on Thursday, September 17th. The stock was purchased at an average price of $266.06 per share, with a total value of $7,449,680.00. Following the completion of the acquisition, the insider directly owned 1,474,640 shares of the company’s stock, valued at $392,342,718.40. This represents a 1.94% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 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 Friday, September 18th, Conifer Management, L.L.C. bought 37,650 shares of Group 1 Automotive stock. The shares were bought at an average cost of $249.88 per share, for a total transaction of $9,407,982.00.
- On Thursday, September 10th, Conifer Management, L.L.C. acquired 36,647 shares of Group 1 Automotive stock. The stock was purchased at an average price of $280.86 per share, with a total value of $10,292,676.42.
- On Wednesday, September 9th, Conifer Management, L.L.C. purchased 47,353 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $282.48 per share, for a total transaction of $13,376,275.44.
- On Friday, September 4th, Conifer Management, L.L.C. bought 57,159 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $300.15 per share, with a total value of $17,156,273.85.
- On Thursday, September 3rd, Conifer Management, L.L.C. purchased 83,121 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $282.63 per share, with a total value 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 bought at an average price of $276.03 per share, for a total transaction of $7,331,632.83.
- On Tuesday, September 1st, Conifer Management, L.L.C. bought 3,539 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $269.66 per share, for a total transaction of $954,326.74.
Group 1 Automotive Trading Up 2.1%
Shares of GPI stock traded up $5.08 on Monday, hitting $251.50. 213,995 shares of the stock traded hands, compared to its average volume of 192,518. The firm’s 50-day moving average price is $285.70 and its two-hundred day moving average price is $309.20. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 1.02. The stock has a market capitalization of $3.00 billion, a PE ratio of 10.47, a PEG ratio of 0.74 and a beta of 0.82. Group 1 Automotive, Inc. has a twelve month low of $246.21 and a twelve month high of $461.27.
Group 1 Automotive Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued 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 was Tuesday, September 1st. Group 1 Automotive’s dividend payout ratio (DPR) is currently 9.16%.
Hedge Funds Weigh In On Group 1 Automotive
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Group 1 Automotive during the 2nd quarter worth approximately $593,420,000. Conifer Management L.L.C. purchased a new position in shares of Group 1 Automotive during the 2nd quarter valued at approximately $281,561,390. Norges Bank purchased a new position in Group 1 Automotive in the 4th quarter valued at about $98,125,000. Lakewood Capital Management LP acquired a new stake in Group 1 Automotive during the second quarter worth about $72,098,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Group 1 Automotive during the second quarter valued at approximately $57,174,000. Hedge funds and other institutional investors own 99.92% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on GPI shares. JPMorgan Chase & Co. cut Group 1 Automotive from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $380.00 to $320.00 in a research report on Friday, July 31st. UBS Group decreased their price objective on shares of Group 1 Automotive from $338.00 to $330.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Benchmark reaffirmed a “buy” rating on shares of Group 1 Automotive in a report on Friday, July 10th. Zacks Research lowered Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Finally, Seaport Research Partners set a $420.00 target price on shares of Group 1 Automotive in a research report on Monday, August 3rd. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $373.38.
View Our Latest Stock Report on Group 1 Automotive
About Group 1 Automotive
Group 1 Automotive, Inc is an international automotive retailer that operates franchised dealerships in the United States and the United Kingdom. The company sells new and used vehicles from a broad range of manufacturers, including domestic, Asian and European brands.
In addition to vehicle sales, Group 1 Automotive provides automotive maintenance and repair services, sells replacement parts and accessories, and offers financing, insurance and other related products. Its dealerships also support customers through collision-repair operations and online vehicle purchasing tools.
Founded in 1997 and headquartered in Houston, Texas, Group 1 Automotive has expanded through dealership acquisitions and organic growth.
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