Point72 Asset Management L.P. raised its position in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 424.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,494 shares of the company's stock after acquiring an additional 8,494 shares during the period. Point72 Asset Management L.P. owned about 0.08% of Group 1 Automotive worth $4,020,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in GPI. Cetera Advisors LLC raised its holdings in Group 1 Automotive by 73.5% in the 1st quarter. Cetera Advisors LLC now owns 1,492 shares of the company's stock valued at $436,000 after acquiring an additional 632 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in shares of Group 1 Automotive in the 2nd quarter valued at approximately $452,000. Blue Trust Inc. grew its stake in shares of Group 1 Automotive by 47.5% in the 2nd quarter. Blue Trust Inc. now owns 270 shares of the company's stock valued at $79,000 after purchasing an additional 87 shares during the period. Raymond James & Associates grew its stake in shares of Group 1 Automotive by 8.3% in the 2nd quarter. Raymond James & Associates now owns 40,541 shares of the company's stock valued at $12,052,000 after purchasing an additional 3,095 shares during the period. Finally, Hennessy Advisors Inc. grew its stake in shares of Group 1 Automotive by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 108,500 shares of the company's stock valued at $32,255,000 after purchasing an additional 16,600 shares during the period. Institutional investors and hedge funds own 99.92% of the company's stock.
Group 1 Automotive Price Performance
NYSE GPI traded down $3.46 during trading hours on Monday, reaching $427.03. 71,408 shares of the company's stock were exchanged, compared to its average volume of 134,471. The firm has a fifty day moving average of $387.31 and a 200-day moving average of $351.21. Group 1 Automotive, Inc. has a one year low of $255.73 and a one year 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. The stock has a market cap of $5.69 billion, a PE ratio of 11.47 and a beta of 1.35.
Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the prior year, the business earned $12.07 EPS. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts predict that Group 1 Automotive, Inc. will post 38.37 earnings per share 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. Stockholders of record on Monday, December 2nd will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, December 2nd. Group 1 Automotive's dividend payout ratio (DPR) is currently 5.01%.
Group 1 Automotive declared that its board has authorized a share buyback plan on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 9.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on GPI. Morgan Stanley upgraded Group 1 Automotive from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $285.00 to $430.00 in a research note on Wednesday, September 25th. StockNews.com upgraded Group 1 Automotive from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Guggenheim upped their price objective on Group 1 Automotive from $420.00 to $442.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Stephens assumed coverage on Group 1 Automotive in a research report on Thursday, September 12th. They set an "equal weight" rating and a $394.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price target on Group 1 Automotive from $420.00 to $425.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $425.20.
View Our Latest Analysis on Group 1 Automotive
Insider Activity
In other news, VP Edward Mckissic sold 79 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total value of $29,546.79. Following the transaction, the vice president now owns 6,259 shares of the company's stock, valued at $2,340,928.59. This represents a 1.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.
Group 1 Automotive Company Profile
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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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