Group 1 Automotive, Inc. (NYSE:GPI) Sees Large Decrease in Short Interest

Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 1,370,000 shares, a decrease of 12.7% from the January 15th total of 1,570,000 shares. Based on an average daily trading volume, of 134,500 shares, the days-to-cover ratio is currently 10.2 days. Approximately 10.7% of the company's stock are short sold.

Insider Activity

In other Group 1 Automotive news, Director Lincoln Pereira sold 6,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $426.68, for a total transaction of $2,560,080.00. Following the transaction, the director now owns 98,467 shares of the company's stock, valued at $42,013,899.56. This trade represents a 5.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Group 1 Automotive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPI. Captrust Financial Advisors increased its stake in shares of Group 1 Automotive by 4.2% in the fourth quarter. Captrust Financial Advisors now owns 571 shares of the company's stock worth $241,000 after purchasing an additional 23 shares during the period. Assetmark Inc. lifted its position in Group 1 Automotive by 51.9% in 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. Avior Wealth Management LLC boosted its stake in Group 1 Automotive by 25.6% during the fourth quarter. Avior Wealth Management LLC now owns 152 shares of the company's stock worth $64,000 after buying an additional 31 shares in the last quarter. Bessemer Group Inc. increased its holdings in Group 1 Automotive by 119.4% in the 4th quarter. Bessemer Group Inc. now owns 68 shares of the company's stock valued at $29,000 after buying an additional 37 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Group 1 Automotive by 13.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 346 shares of the company's stock valued at $146,000 after buying an additional 41 shares in the last quarter. Institutional investors own 99.92% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GPI. Guggenheim raised their price target on shares of Group 1 Automotive from $420.00 to $442.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. upped their price objective on shares of Group 1 Automotive from $420.00 to $495.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. StockNews.com upgraded Group 1 Automotive from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Jefferies Financial Group initiated coverage on shares of Group 1 Automotive in a research note on Friday, December 13th. They set a "buy" rating and a $500.00 target price for the company. Finally, Stephens reissued an "equal weight" rating and issued a $460.00 price target on shares of Group 1 Automotive in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $460.33.

Group 1 Automotive Stock Down 3.7 %

GPI stock traded down $17.32 during midday trading on Friday, reaching $451.10. The company had a trading volume of 150,860 shares, compared to its average volume of 146,388. The company has a 50 day moving average of $443.68 and a two-hundred day moving average of $401.50. The company has a market capitalization of $5.97 billion, a P/E ratio of 12.27 and a beta of 1.36. Group 1 Automotive has a 1 year low of $258.77 and a 1 year high of $490.09. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92.

Group 1 Automotive (NYSE:GPI - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $10.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.77 by $1.25. Group 1 Automotive had a return on equity of 18.09% and a net margin of 2.47%. On average, equities research analysts expect that Group 1 Automotive will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.44%. This is a positive change from Group 1 Automotive's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, March 3rd. Group 1 Automotive's payout ratio is currently 5.12%.

Group 1 Automotive declared that its board has approved a share repurchase program on Tuesday, November 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 9.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is 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.