Group 1 Automotive (NYSE:GPI) Major Shareholder Purchases $18,787,488.00 in Stock

Group 1 Automotive, Inc. (NYSE:GPI) major shareholder Conifer Management, L.L.C. acquired 75,756 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The stock was bought at an average cost of $248.00 per share, with a total value of $18,787,488.00. Following the purchase, the insider owned 1,588,046 shares in the company, valued at $393,835,408. The trade was a 5.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% 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 Friday, September 25th, Conifer Management, L.L.C. bought 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 Friday, September 18th, Conifer Management, L.L.C. purchased 37,650 shares of Group 1 Automotive stock. The stock was bought 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 price 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 shares were purchased at an average cost of $280.86 per share, for a total transaction of $10,292,676.42.
• On Wednesday, September 9th, Conifer Management, L.L.C. acquired 47,353 shares of Group 1 Automotive stock. The stock was acquired at an average price of $282.48 per share, with a total value 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 acquired at an average price of $300.15 per share, with a total value 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 bought 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 acquired at an average price of $276.03 per share, with a total value of $7,331,632.83.
• On Tuesday, September 1st, Conifer Management, L.L.C. acquired 3,539 shares of Group 1 Automotive stock. The stock was purchased at an average price of $269.66 per share, with a total value of $954,326.74.

Group 1 Automotive Trading Down 3.6%

Group 1 Automotive stock traded down $9.20 during mid-day trading on Monday, hitting $242.98. The company’s stock had a trading volume of 430,973 shares, compared to its average volume of 195,015. 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 12 month low of $239.18 and a 12 month high of $461.27. The business has a 50 day moving average price of $279.39 and a 200-day moving average price of $306.71. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 0.76 and a beta of 0.82.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data 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 during 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%.The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $10.82 EPS. As a group, analysts forecast that Group 1 Automotive, Inc. will post 38.96 EPS for the current year.

Group 1 Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis 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 presently 9.16%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. lowered Group 1 Automotive from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $380.00 to $320.00 in a research note on Friday, July 31st. DA Davidson set a $425.00 price objective on shares of Group 1 Automotive in a report on Friday, July 10th. Evercore set a $360.00 price target on Group 1 Automotive in a report on Tuesday, August 4th. Seaport Research Partners set a $420.00 target price on shares of Group 1 Automotive in a research note on Monday, August 3rd. Finally, Citigroup reduced their price target on Group 1 Automotive from $387.00 to $357.00 and set a “buy” rating for the company in a research report on Monday. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $360.25.

Hedge Funds Weigh In On Group 1 Automotive

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