Rhumbline Advisers Boosts Stock Position in Group 1 Automotive, Inc. (NYSE:GPI)

Rhumbline Advisers grew its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,588 shares of the company's stock after acquiring an additional 1,025 shares during the period. Rhumbline Advisers owned about 0.33% of Group 1 Automotive worth $18,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. R Squared Ltd purchased a new position in Group 1 Automotive during the fourth quarter valued at approximately $30,000. Assetmark Inc. boosted its holdings in Group 1 Automotive by 51.9% in the 3rd quarter. Assetmark Inc. now owns 82 shares of the company's stock worth $31,000 after buying an additional 28 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Group 1 Automotive in the 3rd quarter worth $36,000. Avior Wealth Management LLC bought a new stake in Group 1 Automotive during the third quarter valued at about $46,000. Finally, GAMMA Investing LLC lifted its position in shares of Group 1 Automotive by 70.4% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the company's stock valued at $51,000 after acquiring an additional 50 shares in the last quarter. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GPI has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on Group 1 Automotive from $420.00 to $495.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Stephens reaffirmed an "equal weight" rating and set a $460.00 price objective on shares of Group 1 Automotive in a report on Thursday, January 30th. Guggenheim boosted their target price on shares of Group 1 Automotive from $420.00 to $442.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Jefferies Financial Group assumed 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, 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $460.33.

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Group 1 Automotive Price Performance

GPI traded up $8.04 during trading hours on Tuesday, hitting $460.03. The company's stock had a trading volume of 107,143 shares, compared to its average volume of 135,535. Group 1 Automotive, Inc. has a 12 month low of $258.77 and a 12 month 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. The business's 50-day moving average price is $444.94 and its 200-day moving average price is $403.96. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 12.52 and a beta of 1.36.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported $10.02 earnings per share for the quarter, topping analysts' consensus estimates of $8.77 by $1.25. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.09%. Sell-side analysts expect that Group 1 Automotive, Inc. will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.43%. 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 dividend payout ratio (DPR) is presently 5.44%.

Group 1 Automotive announced that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Transactions at Group 1 Automotive

In related news, Director Lincoln Pereira sold 6,000 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $426.68, for a total value of $2,560,080.00. Following the completion of the sale, the director now directly owns 98,467 shares in the company, valued at $42,013,899.56. This trade represents a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.70% of the company's stock.

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.