FORA Capital LLC Lowers Position in Group 1 Automotive, Inc. (NYSE:GPI)

FORA Capital LLC trimmed its position in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 63.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,261 shares of the company's stock after selling 2,214 shares during the quarter. FORA Capital LLC's holdings in Group 1 Automotive were worth $483,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Assetmark Inc. raised its position in shares of 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 purchasing an additional 28 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Group 1 Automotive in the 3rd quarter valued at $36,000. Hexagon Capital Partners LLC raised its position in 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 buying an additional 51 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in Group 1 Automotive in the 3rd quarter valued at $46,000. Finally, Headlands Technologies LLC purchased a new stake in Group 1 Automotive in the 2nd quarter valued at $48,000. 99.92% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Group 1 Automotive

In other Group 1 Automotive news, VP Edward Mckissic sold 79 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total value of $29,546.79. Following the completion of the transaction, the vice president now owns 6,259 shares in the company, valued at $2,340,928.59. This trade represents a 1.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Group 1 Automotive Stock Performance

NYSE:GPI traded down $0.89 during trading on Friday, reaching $426.87. The company's stock had a trading volume of 47,696 shares, compared to its average volume of 135,290. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 11.37 and a beta of 1.33. Group 1 Automotive, Inc. has a 12 month low of $255.73 and a 12 month high of $440.32. The firm has a 50 day moving average of $381.61 and a 200-day moving average of $345.90.

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, topping the consensus estimate of $9.87 by $0.03. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $12.07 EPS. Research analysts expect that Group 1 Automotive, Inc. will post 38.38 EPS for the current fiscal year.

Group 1 Automotive declared that its Board of Directors has approved a stock repurchase program on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 9.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Group 1 Automotive Announces Dividend

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 paid 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 dividend yield of 0.44%. Group 1 Automotive's payout ratio is 5.01%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GPI shares. Morgan Stanley raised Group 1 Automotive from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $285.00 to $430.00 in a research report on Wednesday, September 25th. Guggenheim increased their price target on Group 1 Automotive from $420.00 to $442.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. increased 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 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 objective for the company. Finally, StockNews.com upgraded Group 1 Automotive from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Group 1 Automotive has a consensus rating of "Moderate Buy" and a consensus target price of $425.20.

Group 1 Automotive Company 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.