Bridgewater Associates LP lowered its position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 47.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,388 shares of the company's stock after selling 10,140 shares during the period. Bridgewater Associates LP owned about 0.09% of Group 1 Automotive worth $4,362,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the company. 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 valued at $31,000 after purchasing an additional 28 shares during the period. Arizona State Retirement System lifted its position in shares of Group 1 Automotive by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 3,832 shares of the company's stock valued at $1,139,000 after acquiring an additional 33 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Group 1 Automotive by 17.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company's stock valued at $79,000 after acquiring an additional 39 shares during the period. SummerHaven Investment Management LLC lifted its position in shares of Group 1 Automotive by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 2,854 shares of the company's stock valued at $848,000 after acquiring an additional 49 shares during the period. Finally, Hexagon Capital Partners LLC lifted its position in shares of Group 1 Automotive by 53.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company's stock valued at $43,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 99.92% of the company's stock.
Group 1 Automotive Trading Down 0.5 %
Shares of GPI traded down $1.96 during mid-day trading on Friday, reaching $425.80. The company had a trading volume of 47,696 shares, compared to its average volume of 135,290. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 11.35 and a beta of 1.33. The firm has a fifty day simple moving average of $382.49 and a 200-day simple moving average of $346.69. Group 1 Automotive, Inc. has a fifty-two week low of $255.73 and a fifty-two week high of $440.32. 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 (NYSE:GPI - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, beating analysts' consensus estimates of $9.87 by $0.03. The company had revenue of $5.22 billion for 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%. Group 1 Automotive's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business earned $12.07 EPS. On average, sell-side analysts anticipate that Group 1 Automotive, Inc. will post 38.38 EPS for the current fiscal year.
Group 1 Automotive Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.47 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.44%. Group 1 Automotive's dividend payout ratio (DPR) is presently 5.01%.
Group 1 Automotive declared that its board has authorized a stock buyback plan on Tuesday, November 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 9.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. 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 research report on Thursday, November 21st. Morgan Stanley upgraded shares of Group 1 Automotive from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $285.00 to $430.00 in a research report on Wednesday, September 25th. Stephens initiated coverage on shares of Group 1 Automotive in a research note on Thursday, September 12th. They set an "equal weight" rating and a $394.00 price objective for the company. StockNews.com raised shares of Group 1 Automotive from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Group 1 Automotive from $420.00 to $425.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $425.20.
Check Out Our Latest Stock Analysis on GPI
Insider Buying and Selling at Group 1 Automotive
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 transaction, the vice president now owns 6,259 shares in the company, valued at approximately $2,340,928.59. The trade was a 1.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by company insiders.
About Group 1 Automotive
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Free Report)
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.
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