Cambiar Investors LLC cut its stake in Group 1 Automotive, Inc. (NYSE:GPI) by 53.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,307 shares of the company’s stock after selling 121,291 shares during the quarter. Cambiar Investors LLC owned approximately 0.51% of Group 1 Automotive worth $7,775,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in GPI. FMR LLC acquired a new position in Group 1 Automotive in the first quarter valued at approximately $1,485,000. Teachers Advisors LLC lifted its holdings in Group 1 Automotive by 2.7% in the first quarter. Teachers Advisors LLC now owns 36,749 shares of the company’s stock valued at $2,722,000 after acquiring an additional 983 shares during the period. Vanguard Group Inc. lifted its holdings in Group 1 Automotive by 25.5% in the first quarter. Vanguard Group Inc. now owns 2,153,519 shares of the company’s stock valued at $159,532,000 after acquiring an additional 437,387 shares during the period. Geode Capital Management LLC raised its stake in shares of Group 1 Automotive by 25.5% during the 1st quarter. Geode Capital Management LLC now owns 184,179 shares of the company’s stock worth $13,643,000 after buying an additional 37,412 shares during the period. Finally, Morgan Stanley raised its stake in shares of Group 1 Automotive by 17.5% during the 1st quarter. Morgan Stanley now owns 206,874 shares of the company’s stock worth $15,325,000 after buying an additional 30,820 shares during the period. 98.93% of the stock is owned by institutional investors.
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In other news, CFO John C. Rickel sold 10,000 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $66.99, for a total transaction of $669,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daryl Kenningham sold 6,700 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $78.68, for a total value of $527,156.00. Following the transaction, the insider now owns 42,130 shares of the company’s stock, valued at $3,314,788.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,694 shares of company stock valued at $5,189,106. 6.08% of the stock is owned by company insiders.
Several research analysts have recently weighed in on the company. Buckingham Research downgraded Group 1 Automotive from a “buy” rating to a “neutral” rating and set a $86.00 target price for the company. in a research note on Monday. Wells Fargo & Company upped their target price on Group 1 Automotive from $65.00 to $85.00 and gave the stock a “market perform” rating in a research note on Monday, October 30th. Zacks Investment Research raised Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Stephens reaffirmed an “equal weight” rating and set a $87.00 target price (up from $83.00) on shares of Group 1 Automotive in a research note on Wednesday, October 4th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Group 1 Automotive in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $79.00.
Shares of Group 1 Automotive, Inc. (NYSE GPI) traded down $0.12 on Wednesday, hitting $77.40. The company had a trading volume of 416,400 shares, compared to its average volume of 263,785. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.05 and a quick ratio of 0.27. Group 1 Automotive, Inc. has a 52-week low of $51.62 and a 52-week high of $83.18. The stock has a market capitalization of $1,616.99, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.51 and a beta of 1.69.
Group 1 Automotive (NYSE:GPI) last issued its earnings results on Thursday, October 26th. The company reported $2.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.76 by $0.47. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Group 1 Automotive had a return on equity of 15.69% and a net margin of 1.20%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.96 EPS. sell-side analysts predict that Group 1 Automotive, Inc. will post 7.32 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.25 dividend. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, November 30th. Group 1 Automotive’s dividend payout ratio is presently 15.26%.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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