Eventide Asset Management LLC Has $13.39 Million Stock Position in Group 1 Automotive, Inc. (NYSE:GPI)

Eventide Asset Management LLC decreased its position in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 15.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,943 shares of the company's stock after selling 6,145 shares during the quarter. Eventide Asset Management LLC owned 0.26% of Group 1 Automotive worth $13,385,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Assetmark Inc. lifted its holdings 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 acquiring an additional 28 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Group 1 Automotive during the third quarter worth $36,000. Hexagon Capital Partners LLC boosted 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 valued at $43,000 after purchasing an additional 51 shares in the last quarter. Avior Wealth Management LLC bought a new position in shares of Group 1 Automotive in the 3rd quarter valued at $46,000. Finally, Headlands Technologies LLC acquired a new position in shares of Group 1 Automotive during the 2nd quarter worth $48,000. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Edward Mckissic sold 79 shares of Group 1 Automotive stock in a transaction 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 completion of the transaction, the vice president now owns 6,259 shares of the company's stock, valued at $2,340,928.59. This trade represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by insiders.

Group 1 Automotive Trading Down 0.5 %

GPI traded down $1.96 during trading on Friday, reaching $425.80. 47,696 shares of the company's stock were exchanged, compared to its average volume of 135,290. The company has a current ratio of 1.00, a quick ratio of 0.24 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 has a fifty day moving average price of $382.49 and a two-hundred day moving average price of $346.69. The stock has a market capitalization of $5.67 billion, a PE ratio of 11.35 and a beta of 1.33.

Group 1 Automotive (NYSE:GPI - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, topping the consensus estimate of $9.87 by $0.03. The company had revenue of $5.22 billion for 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%. Group 1 Automotive's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $12.07 earnings per share. As a group, equities research analysts forecast that Group 1 Automotive, Inc. will post 38.38 earnings per share for the current fiscal year.

Group 1 Automotive announced that its Board of Directors has authorized a share buyback program on Tuesday, November 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 9.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Group 1 Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.88 annualized dividend and a dividend yield of 0.44%. Group 1 Automotive's payout ratio is 5.01%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Group 1 Automotive from $420.00 to $425.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Guggenheim lifted their price target on shares of Group 1 Automotive from $420.00 to $442.00 and gave the company a "buy" rating in a report on Thursday, November 21st. StockNews.com raised shares of Group 1 Automotive from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Morgan Stanley raised shares of Group 1 Automotive from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $285.00 to $430.00 in a research note on Wednesday, September 25th. Finally, Stephens initiated coverage on Group 1 Automotive in a research note on Thursday, September 12th. They issued an "equal weight" rating and a $394.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $425.20.

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.