Group 1 Automotive, Inc. (NYSE:GPI) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP decreased its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 47.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 11,388 shares of the company’s stock after selling 10,140 shares during the period. Bridgewater Associates LP owned approximately 0.09% of Group 1 Automotive worth $4,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC raised its stake in shares of Group 1 Automotive by 133.0% in the 3rd quarter. FMR LLC now owns 407,930 shares of the company’s stock valued at $156,253,000 after acquiring an additional 232,846 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Group 1 Automotive by 22.0% during the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock worth $190,004,000 after purchasing an additional 115,143 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Group 1 Automotive by 596.3% in the third quarter. Thrivent Financial for Lutherans now owns 76,384 shares of the company’s stock worth $29,259,000 after buying an additional 65,414 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Group 1 Automotive by 57.4% in the third quarter. Assenagon Asset Management S.A. now owns 63,236 shares of the company’s stock valued at $24,222,000 after buying an additional 23,051 shares in the last quarter. Finally, Shellback Capital LP raised its holdings in shares of Group 1 Automotive by 27.1% during the 2nd quarter. Shellback Capital LP now owns 95,302 shares of the company’s stock valued at $28,331,000 after buying an additional 20,302 shares during the period. 99.92% of the stock is owned by institutional investors and hedge funds.

Group 1 Automotive Price Performance

Shares of GPI stock opened at $426.87 on Friday. The firm has a fifty day moving average of $381.61 and a two-hundred day moving average of $345.90. The firm has a market cap of $5.69 billion, a P/E ratio of 11.37 and a beta of 1.33. Group 1 Automotive, Inc. has a 1-year low of $255.73 and a 1-year 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.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the firm earned $12.07 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, research analysts anticipate that Group 1 Automotive, Inc. will post 38.38 earnings per share for the current fiscal year.

Group 1 Automotive declared that its Board of Directors has approved 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 purchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Group 1 Automotive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, December 2nd. Group 1 Automotive’s dividend payout ratio is currently 5.01%.

Insider Buying and Selling

In other news, VP Edward Mckissic sold 79 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the transaction, the vice president now directly owns 6,259 shares in the company, valued at approximately $2,340,928.59. This trade represents a 1.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GPI has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Guggenheim raised their price target on shares of Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $285.00 to $430.00 in a research note on Wednesday, September 25th. Stephens assumed coverage on shares of Group 1 Automotive in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price objective for the company. Finally, StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $425.20.

Group 1 Automotive Profile

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.