MQS Management LLC Takes Position in Group 1 Automotive, Inc. $GPI

MQS Management LLC purchased a new stake in Group 1 Automotive, Inc. (NYSE:GPI) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 1,055 shares of the company’s stock, valued at approximately $461,000.

Several other hedge funds and other institutional investors have also modified their holdings of GPI. Nuveen LLC acquired a new position in shares of Group 1 Automotive in the 1st quarter valued at about $74,499,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Group 1 Automotive by 1,287.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 102,000 shares of the company’s stock valued at $44,544,000 after buying an additional 94,650 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Group 1 Automotive by 130.5% in the 1st quarter. Wellington Management Group LLP now owns 99,914 shares of the company’s stock valued at $38,162,000 after buying an additional 56,564 shares during the period. Advent International L.P. boosted its holdings in shares of Group 1 Automotive by 15.3% in the 1st quarter. Advent International L.P. now owns 235,195 shares of the company’s stock valued at $89,833,000 after buying an additional 31,244 shares during the period. Finally, Leeward Investments LLC MA acquired a new position in shares of Group 1 Automotive in the 1st quarter valued at about $8,769,000. 99.92% of the stock is owned by institutional investors and hedge funds.

Group 1 Automotive Stock Down 1.6%

GPI stock opened at $424.12 on Friday. Group 1 Automotive, Inc. has a 52 week low of $344.92 and a 52 week high of $490.09. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.14 and a beta of 0.85. The firm’s 50-day moving average is $451.59 and its two-hundred day moving average is $436.34. The company has a current ratio of 1.05, a quick ratio of 0.24 and a debt-to-equity ratio of 0.97.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Thursday, July 24th. The company reported $11.52 EPS for the quarter, topping analysts’ consensus estimates of $10.31 by $1.21. Group 1 Automotive had a net margin of 2.18% and a return on equity of 18.10%. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the firm earned $9.82 EPS. Group 1 Automotive’s revenue was up 21.4% on a year-over-year basis. On average, analysts forecast that Group 1 Automotive, Inc. will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. Group 1 Automotive’s payout ratio is 5.51%.

Insider Transactions at Group 1 Automotive

In related news, Director Steven Mizell sold 525 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $417.98, for a total value of $219,439.50. Following the sale, the director directly owned 8 shares in the company, valued at $3,343.84. The trade was a 98.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lincoln Pereira sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $469.34, for a total transaction of $3,285,380.00. Following the completion of the sale, the director owned 82,967 shares in the company, valued at $38,939,731.78. The trade was a 7.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GPI. Morgan Stanley boosted their target price on shares of Group 1 Automotive from $470.00 to $485.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Group 1 Automotive in a research note on Saturday. Bank of America reduced their target price on shares of Group 1 Automotive from $560.00 to $545.00 and set a “buy” rating for the company in a research note on Wednesday, September 10th. JPMorgan Chase & Co. boosted their target price on shares of Group 1 Automotive from $430.00 to $435.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Finally, Zacks Research lowered shares of Group 1 Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $478.00.

Group 1 Automotive Company 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.