Algert Global LLC Decreases Stock Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

Algert Global LLC cut its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 69.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 13,424 shares of the company's stock after selling 30,343 shares during the period. Algert Global LLC owned about 0.10% of Group 1 Automotive worth $5,142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. raised its position in shares of Group 1 Automotive by 51.9% during the 3rd quarter. Assetmark Inc. now owns 82 shares of the company's stock worth $31,000 after purchasing an additional 28 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Group 1 Automotive in the third quarter worth approximately $36,000. Hexagon Capital Partners LLC increased its position in shares of Group 1 Automotive by 53.7% during the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company's stock worth $43,000 after purchasing an additional 51 shares in the last quarter. Avior Wealth Management LLC acquired a new position in Group 1 Automotive in the 3rd quarter valued at $46,000. Finally, Headlands Technologies LLC purchased a new position in Group 1 Automotive in the 2nd quarter valued at $48,000. 99.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GPI shares. StockNews.com upgraded shares of Group 1 Automotive from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Guggenheim raised their target price on shares of Group 1 Automotive from $420.00 to $442.00 and gave the stock a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on Group 1 Automotive from $420.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Stephens started coverage on Group 1 Automotive in a research report on Thursday, September 12th. They set an "equal weight" rating and a $394.00 price objective on the stock. Finally, Morgan Stanley upgraded Group 1 Automotive from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $425.20.

Insider Activity

In related news, VP Edward Mckissic sold 79 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total transaction of $29,546.79. Following the sale, the vice president now directly owns 6,259 shares of the company's stock, valued at $2,340,928.59. This represents a 1.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.

Group 1 Automotive Trading Up 3.0 %

Shares of NYSE GPI traded up $12.60 during mid-day trading on Monday, reaching $433.74. 216,231 shares of the company's stock were exchanged, compared to its average volume of 135,626. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 11.54 and a beta of 1.33. Group 1 Automotive, Inc. has a 52-week low of $255.73 and a 52-week high of $440.32. The company's 50-day moving average is $377.50 and its 200-day moving average is $342.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00.

Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, beating analysts' consensus estimates of $9.87 by $0.03. The business had revenue of $5.22 billion during the quarter, compared to analysts' expectations of $5.06 billion. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The business's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the business earned $12.07 earnings per share. Analysts expect that Group 1 Automotive, Inc. will post 38.37 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.47 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.88 annualized dividend and a dividend yield of 0.43%. Group 1 Automotive's dividend payout ratio is currently 5.01%.

Group 1 Automotive announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

About Group 1 Automotive

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.