Cinctive Capital Management LP Cuts Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

Cinctive Capital Management LP decreased its position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 74.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,579 shares of the company's stock after selling 21,895 shares during the quarter. Cinctive Capital Management LP owned approximately 0.06% of Group 1 Automotive worth $2,903,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Assetmark Inc. lifted its holdings in Group 1 Automotive by 51.9% during the third quarter. Assetmark Inc. now owns 82 shares of the company's stock worth $31,000 after acquiring an additional 28 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Group 1 Automotive during the 3rd quarter worth approximately $36,000. Hexagon Capital Partners LLC raised its holdings in shares of Group 1 Automotive by 53.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company's stock worth $43,000 after purchasing an additional 51 shares during the period. Avior Wealth Management LLC bought a new position in shares of Group 1 Automotive during the 3rd quarter worth $46,000. Finally, Headlands Technologies LLC purchased a new position in shares of Group 1 Automotive in the second quarter worth about $48,000. Institutional investors own 99.92% of the company's stock.

Insider Transactions at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of Group 1 Automotive stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 in the company, valued at $2,340,928.59. The trade was a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company's stock.

Group 1 Automotive Trading Up 1.4 %

Shares of NYSE GPI traded up $5.90 during midday trading on Tuesday, reaching $433.71. The company had a trading volume of 48,213 shares, compared to its average volume of 134,798. The company has a quick ratio of 0.24, a current ratio of 1.00 and a debt-to-equity ratio of 0.91. Group 1 Automotive, Inc. has a one year low of $255.73 and a one year high of $440.32. The firm's fifty day moving average price is $383.39 and its 200-day moving average price is $347.81. The stock has a market cap of $5.78 billion, a PE ratio of 11.41 and a beta of 1.35.

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 (EPS) for the quarter, topping analysts' consensus estimates of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter last year, the firm earned $12.07 EPS. The company's revenue was up 11.0% on a year-over-year basis. On average, equities research analysts anticipate that Group 1 Automotive, Inc. will post 38.37 earnings per share for the current year.

Group 1 Automotive declared that its Board of Directors has initiated a share repurchase plan on Tuesday, November 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 9.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Group 1 Automotive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.47 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.88 annualized dividend and a yield of 0.43%. Group 1 Automotive's dividend payout ratio (DPR) is presently 5.01%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Group 1 Automotive from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $285.00 to $430.00 in a research note on Wednesday, September 25th. Guggenheim raised their target price on Group 1 Automotive from $420.00 to $442.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. 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 shares of Group 1 Automotive in a research report on Thursday, September 12th. They issued an "equal weight" rating and a $394.00 price objective for the company. Finally, StockNews.com upgraded shares of Group 1 Automotive from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $425.20.

Group 1 Automotive Profile

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.