Insider Buying: Group 1 Automotive (NYSE:GPI) Major Shareholder Buys 133,472 Shares of Company Stock

Group 1 Automotive, Inc. (NYSE:GPI) major shareholder Conifer Management, L.L.C. purchased 133,472 shares of the company’s stock in a transaction dated Monday, September 28th. The shares were acquired at an average price of $243.58 per share, for a total transaction of $32,511,109.76. Following the purchase, the insider owned 1,772,050 shares in the company, valued at $431,635,939. The trade was a 8.15% 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 this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Conifer Management, L.L.C. also recently made the following trade(s):

• On Wednesday, September 30th, Conifer Management, L.L.C. acquired 71,592 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $242.03 per share, with a total value of $17,327,411.76.
• On Tuesday, September 29th, Conifer Management, L.L.C. bought 68,648 shares of Group 1 Automotive stock. The shares were acquired 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. bought 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. purchased 75,756 shares of Group 1 Automotive stock. The shares were bought at an average price of $248.00 per share, with a total value of $18,787,488.00.
• On Friday, September 18th, Conifer Management, L.L.C. acquired 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. bought 28,000 shares of Group 1 Automotive stock. The stock was bought at an average price of $266.06 per share, with a total value of $7,449,680.00.
• On Thursday, September 10th, Conifer Management, L.L.C. bought 36,647 shares of Group 1 Automotive stock. The shares were bought at an average cost 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 shares were bought at an average price of $282.48 per share, for a total transaction of $13,376,275.44.
• On Friday, September 4th, Conifer Management, L.L.C. purchased 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. acquired 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.

Group 1 Automotive Stock Performance

Shares of NYSE GPI traded up $0.61 during trading hours on Wednesday, hitting $241.54. 354,508 shares of the stock were exchanged, compared to its average volume of 273,875. Group 1 Automotive, Inc. has a one year low of $235.11 and a one year high of $461.27. The company’s 50 day moving average is $275.01 and its 200 day moving average is $305.30. 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 capitalization of $2.88 billion, a P/E ratio of 10.06, a P/E/G ratio of 0.73 and a beta of 0.82.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Thursday, July 30th. The company reported $9.61 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter last year, the business earned $10.82 EPS. The business’s revenue was down 5.6% compared to the same quarter last year. On average, research analysts expect that Group 1 Automotive, Inc. will post 38.96 EPS for the current year.

Group 1 Automotive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.55 per share. 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 payout ratio is currently 9.16%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. bought a new stake in Group 1 Automotive during the 2nd quarter worth about $234,000. Anchor Investment Management LLC increased its position in Group 1 Automotive by 112.0% in the second quarter. Anchor Investment Management LLC now owns 212 shares of the company’s stock worth $62,000 after purchasing an additional 112 shares during the period. Tidal Investments LLC raised its stake in shares of Group 1 Automotive by 352.3% during the second quarter. Tidal Investments LLC now owns 2,786 shares of the company’s stock worth $811,000 after buying an additional 2,170 shares during the last quarter. Engineers Gate Manager LP lifted its stake in shares of Group 1 Automotive by 81.4% in the 2nd quarter. Engineers Gate Manager LP now owns 26,173 shares of the company’s stock valued at $7,621,000 after purchasing an additional 11,748 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in Group 1 Automotive during the second quarter worth about $42,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GPI. Seaport Research Partners set a $420.00 target price on Group 1 Automotive in a report on Monday, August 3rd. JPMorgan Chase & Co. lowered shares of Group 1 Automotive from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $380.00 to $320.00 in a research report on Friday, July 31st. Barclays dropped their price objective on shares of Group 1 Automotive from $435.00 to $365.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Citigroup reduced their target price on shares of Group 1 Automotive from $387.00 to $357.00 and set a “buy” rating for the company in a research note on Monday. Finally, UBS Group decreased their target price on Group 1 Automotive from $338.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Group 1 Automotive presently has an average rating of “Hold” and a consensus price target of $360.25.

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.