Group 1 Automotive, Inc. (NYSE:GPI – Get Free Report) major shareholder Conifer Management, L.L.C. acquired 71,592 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The shares were acquired at an average price of $242.03 per share, with a total value of $17,327,411.76. Following the acquisition, the insider owned 1,912,290 shares in the company, valued at approximately $462,831,548.70. The trade was a 3.89% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Conifer Management, L.L.C. also recently made the following trade(s):
- On Tuesday, September 29th, Conifer Management, L.L.C. purchased 68,648 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $239.48 per share, with a total value of $16,439,823.04.
- On Friday, September 25th, Conifer Management, L.L.C. acquired 50,532 shares of Group 1 Automotive stock. The shares were bought at an average price of $252.06 per share, for a total transaction of $12,737,095.92.
- On Thursday, September 24th, Conifer Management, L.L.C. acquired 75,756 shares of Group 1 Automotive stock. The stock was bought at an average cost of $248.00 per share, with a total value of $18,787,488.00.
- 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 17th, Conifer Management, L.L.C. purchased 28,000 shares of Group 1 Automotive stock. The shares were bought at an average price of $266.06 per share, for a total transaction of $7,449,680.00.
- On Thursday, September 10th, Conifer Management, L.L.C. acquired 36,647 shares of Group 1 Automotive stock. The shares were bought 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. acquired 47,353 shares of Group 1 Automotive stock. The shares were bought 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 stock was purchased at an average cost 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 stock was purchased at an average price of $282.63 per share, with a total value of $23,492,488.23.
- On Wednesday, September 2nd, Conifer Management, L.L.C. purchased 26,561 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $276.03 per share, with a total value of $7,331,632.83.
Group 1 Automotive Stock Performance
GPI traded up $0.61 on Wednesday, reaching $241.54. 354,508 shares of the stock were exchanged, compared to its average volume of 273,875. 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 company’s 50-day moving average price is $275.01 and its 200 day moving average price is $305.30. The firm has a market capitalization of $2.88 billion, a PE ratio of 10.06, a PEG ratio of 0.73 and a beta of 0.82. Group 1 Automotive, Inc. has a fifty-two week low of $235.11 and a fifty-two week high of $461.27.
Group 1 Automotive Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Group 1 Automotive’s dividend payout ratio is 9.16%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on GPI shares. Zacks Research cut shares of Group 1 Automotive from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Weiss Ratings lowered shares of Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. JPMorgan Chase & Co. lowered Group 1 Automotive from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $380.00 to $320.00 in a research note on Friday, July 31st. DA Davidson set a $425.00 price objective on Group 1 Automotive in a report on Friday, July 10th. Finally, Citigroup dropped their target price on Group 1 Automotive from $387.00 to $357.00 and set a “buy” rating on the stock in a report on Monday. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $360.25.
Get Our Latest Report on Group 1 Automotive
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Group 1 Automotive during the 2nd quarter valued at about $593,420,000. Conifer Management L.L.C. acquired a new stake in Group 1 Automotive in the second quarter valued at approximately $281,561,390. Dimensional Fund Advisors LP increased its position in shares of Group 1 Automotive by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 688,416 shares of the company’s stock valued at $227,612,000 after buying an additional 10,100 shares in the last quarter. Norges Bank purchased a new stake in shares of Group 1 Automotive in the fourth quarter valued at approximately $98,125,000. Finally, Lakewood Capital Management LP acquired a new position in shares of Group 1 Automotive during the 2nd quarter worth approximately $72,098,000. Institutional investors and hedge funds own 99.92% of the company’s stock.
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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