Group 1 Automotive (NYSE:GPI) Major Shareholder Buys $8,370,174.89 in Stock

Group 1 Automotive, Inc. (NYSE:GPI – Get Free Report) major shareholder Conifer Management, L.L.C. purchased 34,529 shares of the firm’s stock in a transaction on Friday, October 23rd. The shares were purchased at an average price of $242.41 per share, for a total transaction of $8,370,174.89. Following the completion of the purchase, the insider directly owned 1,991,819 shares of the company’s stock, valued at $482,836,843.79. This represents a 1.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more 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 Monday, October 26th, Conifer Management, L.L.C. purchased 20,471 shares of Group 1 Automotive stock. The shares were purchased at an average price of $246.14 per share, with a total value of $5,038,731.94.
  • On Thursday, October 22nd, Conifer Management, L.L.C. acquired 45,000 shares of Group 1 Automotive stock. The stock was purchased at an average cost of $240.52 per share, with a total value of $10,823,400.00.
  • On Monday, September 28th, Conifer Management, L.L.C. acquired 133,472 shares of Group 1 Automotive stock. The stock was purchased at an average price of $243.58 per share, for a total transaction of $32,511,109.76.
  • On Wednesday, September 30th, Conifer Management, L.L.C. bought 71,592 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $242.03 per share, for a total transaction of $17,327,411.76.
  • On Tuesday, September 29th, Conifer Management, L.L.C. purchased 68,648 shares of Group 1 Automotive stock. The stock was bought at an average cost of $239.48 per share, for a total transaction 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 purchased at an average cost of $252.06 per share, with a total value of $12,737,095.92.
  • On Thursday, September 24th, Conifer Management, L.L.C. purchased 75,756 shares of Group 1 Automotive stock. The shares were acquired 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. purchased 37,650 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $249.88 per share, with a total value of $9,407,982.00.
  • On Thursday, September 17th, Conifer Management, L.L.C. acquired 28,000 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $266.06 per share, with a total value of $7,449,680.00.
  • On Thursday, September 10th, Conifer Management, L.L.C. acquired 36,647 shares of Group 1 Automotive stock. The stock was acquired at an average price of $280.86 per share, for a total transaction of $10,292,676.42.

Group 1 Automotive Stock Down 0.3%

Shares of NYSE GPI traded down $0.72 during midday trading on Monday, hitting $244.25. 235,954 shares of the company’s stock were exchanged, compared to its average volume of 262,904. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.02 and a quick ratio of 0.25. Group 1 Automotive, Inc. has a twelve month low of $224.65 and a twelve month high of $429.00. The company has a market cap of $2.91 billion, a PE ratio of 10.17, a P/E/G ratio of 1.50 and a beta of 0.92. The firm’s fifty day simple moving average is $254.89 and its 200-day simple moving average is $310.29.

Group 1 Automotive (NYSE:GPI – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $9.61 earnings per share for the quarter, missing the consensus estimate 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%. Group 1 Automotive’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.82 EPS. Research analysts predict that Group 1 Automotive, Inc. will post 37.68 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.55 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $2.20 annualized dividend and a dividend yield of 0.9%. Group 1 Automotive’s dividend payout ratio is presently 9.16%.

Institutional Trading of Group 1 Automotive

Large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new position in Group 1 Automotive during the 2nd quarter worth $42,000. Anchor Investment Management LLC raised its holdings in shares of Group 1 Automotive by 112.0% in the second quarter. Anchor Investment Management LLC now owns 212 shares of the company’s stock valued at $62,000 after buying an additional 112 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of Group 1 Automotive in the second quarter valued at about $75,000. Group One Trading LLC acquired a new stake in shares of Group 1 Automotive during the second quarter worth about $79,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of Group 1 Automotive during the second quarter worth about $81,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GPI. Benchmark reaffirmed a “buy” rating on shares of Group 1 Automotive in a research report on Friday, July 10th. Seaport Research Partners set a $420.00 price target on shares of Group 1 Automotive in a research report on Monday, August 3rd. Evercore set a $360.00 price objective on shares of Group 1 Automotive in a research note on Tuesday, August 4th. Citigroup dropped their price objective on Group 1 Automotive from $387.00 to $357.00 and set a “buy” rating on the stock in a report on Monday, September 28th. Finally, JPMorgan Chase & Co. cut their target price on Group 1 Automotive from $275.00 to $260.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 6th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three 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 $341.67.

Read Our Latest Report on Group 1 Automotive

About Group 1 Automotive

(Get Free Report)

Group 1 Automotive, Inc is an international automotive retailer headquartered in Houston, Texas. The company operates dealerships that sell new and used automobiles and light trucks from a broad range of manufacturers.

In addition to vehicle sales, Group 1 Automotive provides automotive financing and insurance products, vehicle maintenance and repair, collision services, replacement parts, and other related services. Its dealerships also market vehicles through digital retailing platforms.

Founded in 1997, Group 1 Automotive serves customers through a network of dealerships and automotive service locations in the United States, the United Kingdom, and Brazil.

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