Tabor Asset Management LP Grows Stock Position in Group 1 Automotive, Inc. (NYSE:GPI)

Tabor Asset Management LP grew its stake in Group 1 Automotive, Inc. (NYSE:GPI - Free Report) by 61.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,930 shares of the company's stock after buying an additional 4,180 shares during the period. Group 1 Automotive accounts for 2.0% of Tabor Asset Management LP's holdings, making the stock its 24th biggest position. Tabor Asset Management LP owned 0.08% of Group 1 Automotive worth $4,187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GPI. Assetmark Inc. raised its holdings 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 last quarter. Harbor Capital Advisors Inc. purchased a new position in Group 1 Automotive during the third quarter worth approximately $36,000. Hexagon Capital Partners LLC boosted its position in Group 1 Automotive by 53.7% during the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company's stock worth $43,000 after purchasing an additional 51 shares in the last quarter. Avior Wealth Management LLC purchased a new position in Group 1 Automotive during the third quarter worth approximately $46,000. Finally, Headlands Technologies LLC purchased a new position in Group 1 Automotive during the second quarter worth approximately $48,000. Hedge funds and other institutional investors own 99.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. StockNews.com upgraded Group 1 Automotive from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Stephens began coverage on Group 1 Automotive in a research report on Thursday, September 12th. They issued an "equal weight" rating and a $394.00 target price on the stock. Morgan Stanley upgraded Group 1 Automotive from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $285.00 to $430.00 in a research report on Wednesday, September 25th. Guggenheim raised their target price 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. Finally, JPMorgan Chase & Co. raised their target price 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Group 1 Automotive presently has a consensus rating of "Moderate Buy" and an average target price of $425.20.

Insider Transactions at Group 1 Automotive

In other news, VP Edward Mckissic sold 79 shares of the firm's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following the completion of the transaction, the vice president now directly owns 6,259 shares in the company, valued at $2,340,928.59. This trade represents a 1.25 % decrease in their ownership of the stock. 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.

Group 1 Automotive Price Performance

Shares of NYSE:GPI traded up $0.40 during midday trading on Friday, hitting $428.80. The company had a trading volume of 43,430 shares, compared to its average volume of 134,580. Group 1 Automotive, Inc. has a twelve month low of $255.73 and a twelve month high of $440.32. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 11.43 and a beta of 1.35. The business's 50-day simple moving average is $386.42 and its 200-day simple moving average is $349.80.

Group 1 Automotive (NYSE:GPI - Get Free Report) last posted its earnings results 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. The company had revenue of $5.22 billion during the quarter, compared to analysts' expectations 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 last year, the firm earned $12.07 earnings per share. On average, research analysts predict that Group 1 Automotive, Inc. will post 38.37 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 0.44%. Group 1 Automotive's dividend payout ratio (DPR) is 5.01%.

Group 1 Automotive declared that its board has initiated a share buyback plan on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management 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.