UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Group 1 Automotive, Inc. (NYSE:GPI – Free Report) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,948 shares of the company’s stock after selling 2,197 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.31% of Group 1 Automotive worth $10,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also modified their holdings of GPI. Johnson Financial Group Inc. acquired a new stake in shares of Group 1 Automotive during the 3rd quarter worth about $55,000. Aster Capital Management DIFC Ltd purchased a new stake in Group 1 Automotive during the 4th quarter valued at approximately $57,000. Global Retirement Partners LLC raised its stake in shares of Group 1 Automotive by 78.5% during the fourth quarter. Global Retirement Partners LLC now owns 191 shares of the company’s stock worth $75,000 after purchasing an additional 84 shares during the last quarter. State of Wyoming raised its position in Group 1 Automotive by 28.2% during the 4th quarter. State of Wyoming now owns 191 shares of the company’s stock worth $75,000 after buying an additional 42 shares during the last quarter. Finally, Allworth Financial LP purchased a new position in Group 1 Automotive during the second quarter worth about $75,000. 99.92% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, major shareholder Conifer Management, L.L.C. purchased 26,561 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was acquired at an average cost of $276.03 per share, for a total transaction of $7,331,632.83. Following the completion of the purchase, the insider owned 1,222,360 shares of the company’s stock, valued at approximately $337,408,030.80. This trade represents a 2.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.
Group 1 Automotive Trading Up 0.4%
Group 1 Automotive (NYSE:GPI – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $9.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.60 by ($0.99). Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%.The business had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the previous year, the firm posted $10.82 earnings per share. The firm’s revenue was down 5.6% compared to the same quarter last year. Equities research analysts predict that Group 1 Automotive, Inc. will post 38.96 EPS for the current fiscal year.
Group 1 Automotive Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, September 1st. Group 1 Automotive’s dividend payout ratio is 9.16%.
Analyst Upgrades and Downgrades
GPI has been the subject of a number of recent analyst reports. Morgan Stanley reissued an “equal weight” rating and issued a $300.00 target price (down from $400.00) on shares of Group 1 Automotive in a report on Friday, August 7th. Benchmark restated a “buy” rating on shares of Group 1 Automotive in a research report on Friday, July 10th. Citigroup upped their target price on shares of Group 1 Automotive from $420.00 to $462.00 and gave the company a “buy” rating in a report on Monday, May 11th. JPMorgan Chase & Co. lowered Group 1 Automotive from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $380.00 to $320.00 in a research note on Friday, July 31st. Finally, Zacks Research cut shares of Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $392.44.
Get Our Latest Stock Report on GPI
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.
Read More
- Five stocks we like better than Group 1 Automotive
- AI Token Costs Are Changing the Hardware vs. Software Debate
- 3 ETFs That Could Move as Rate Expectations Shift
- 3 Stocks With September Catalysts Investors Shouldn’t Ignore
- Ollie’s Bargain Outlet Stock Falls on Weak Comps Despite Margin Gains
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.
