Entropy Technologies LP Sells 1,400 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Entropy Technologies LP trimmed its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 49.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,456 shares of the company's stock after selling 1,400 shares during the quarter. Entropy Technologies LP's holdings in Group 1 Automotive were worth $558,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. UniSuper Management Pty Ltd acquired a new position in shares of Group 1 Automotive in the 1st quarter worth approximately $887,000. PAX Financial Group LLC acquired a new position in shares of Group 1 Automotive in the 1st quarter worth approximately $650,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Group 1 Automotive in the 2nd quarter worth approximately $452,000. Orion Portfolio Solutions LLC acquired a new position in shares of Group 1 Automotive in the 1st quarter worth approximately $1,037,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Group 1 Automotive by 22.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company's stock worth $190,004,000 after purchasing an additional 115,143 shares during the period. 99.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GPI. Bank of America dropped their target price on shares of Group 1 Automotive from $445.00 to $435.00 and set a "buy" rating on the stock in a research report on Monday, July 22nd. StockNews.com upgraded shares of Group 1 Automotive from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Stephens began coverage on shares of Group 1 Automotive in a research report on Thursday, September 12th. They set an "equal weight" rating and a $394.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Group 1 Automotive from $420.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley upgraded shares of Group 1 Automotive from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $285.00 to $430.00 in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Group 1 Automotive presently has a consensus rating of "Moderate Buy" and an average price target of $397.80.

Group 1 Automotive Stock Up 0.9 %

Shares of NYSE GPI traded up $3.85 during trading on Friday, hitting $414.81. The stock had a trading volume of 101,362 shares, compared to its average volume of 134,893. Group 1 Automotive, Inc. has a 12 month low of $255.73 and a 12 month high of $422.28. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24. The company has a market capitalization of $5.53 billion, a PE ratio of 11.05, a PEG ratio of 2.15 and a beta of 1.33. The firm has a fifty day moving average of $371.84 and a two-hundred day moving average of $338.39.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, beating the consensus estimate of $9.87 by $0.03. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.06 billion. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $12.07 earnings per share. As a group, equities research analysts forecast that Group 1 Automotive, Inc. will post 38.6 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.88 annualized dividend and a yield of 0.45%. Group 1 Automotive's payout ratio is currently 5.01%.

Group 1 Automotive declared that its board has authorized a stock buyback plan on Tuesday, November 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 9.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total transaction of $29,546.79. Following the completion of the transaction, the vice president now owns 6,259 shares in the company, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by company insiders.

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.