Group 1 Automotive (NYSE:GPI) Major Shareholder Conifer Management, L.L.C. Purchases 57,159 Shares of Stock

Group 1 Automotive, Inc. (NYSE:GPI) major shareholder Conifer Management, L.L.C. bought 57,159 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was bought at an average cost of $300.15 per share, for a total transaction of $17,156,273.85. Following the completion of the acquisition, the insider owned 1,362,640 shares in the company, valued at $408,996,396. This trade represents a 4.38% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Conifer Management, L.L.C. also recently made the following trade(s):

• On Thursday, September 3rd, Conifer Management, L.L.C. bought 83,121 shares of Group 1 Automotive stock. The shares were bought at an average price of $282.63 per share, for a total transaction of $23,492,488.23.
• On Wednesday, September 2nd, Conifer Management, L.L.C. purchased 26,561 shares of Group 1 Automotive stock. The stock was bought at an average price of $276.03 per share, with a total value of $7,331,632.83.
• On Tuesday, September 1st, Conifer Management, L.L.C. acquired 3,539 shares of Group 1 Automotive stock. The stock was bought at an average cost of $269.66 per share, for a total transaction of $954,326.74.

Group 1 Automotive Stock Performance

Shares of GPI stock traded down $18.98 during trading hours on Tuesday, reaching $281.78. 257,823 shares of the company traded hands, compared to its average volume of 189,556. The firm has a 50-day moving average price of $289.53 and a 200 day moving average price of $312.99. The company has a market cap of $3.36 billion, a P/E ratio of 11.74, a P/E/G ratio of 0.91 and a beta of 0.82. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.02 and a quick ratio of 0.25. Group 1 Automotive, Inc. has a 12-month low of $249.54 and a 12-month high of $488.39.

Group 1 Automotive (NYSE:GPI) last released its earnings results on Thursday, July 30th. The company reported $9.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.60 by ($0.99). Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%.The firm had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the prior year, the company posted $10.82 earnings per share. The company’s revenue was down 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Group 1 Automotive, Inc. will post 38.96 earnings per share for the current fiscal year.

Group 1 Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. Group 1 Automotive’s dividend payout ratio is 9.16%.

Hedge Funds Weigh In On Group 1 Automotive

A number of hedge funds and other institutional investors have recently modified their holdings of GPI. Johnson Financial Group Inc. bought a new stake in Group 1 Automotive in the 3rd quarter valued at $55,000. Aster Capital Management DIFC Ltd purchased a new stake in Group 1 Automotive in the 4th quarter worth $57,000. Global Retirement Partners LLC boosted its holdings in shares of Group 1 Automotive by 78.5% during the 4th quarter. Global Retirement Partners LLC now owns 191 shares of the company’s stock valued at $75,000 after purchasing an additional 84 shares during the last quarter. Allworth Financial LP bought a new position in shares of Group 1 Automotive during the 2nd quarter valued at about $75,000. Finally, State of Wyoming grew its position in shares of Group 1 Automotive by 28.2% during the fourth quarter. State of Wyoming now owns 191 shares of the company’s stock valued at $75,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 99.92% of the company’s stock.

Wall Street Analysts Forecast Growth

GPI has been the topic of a number of analyst reports. Weiss Ratings cut shares of Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. Citigroup increased their price target on Group 1 Automotive from $420.00 to $462.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Seaport Research Partners set a $420.00 price target on Group 1 Automotive in a report on Monday, August 3rd. Barclays dropped their price objective on Group 1 Automotive from $435.00 to $365.00 and set an “overweight” rating for the company in a research note on Wednesday, August 19th. Finally, UBS Group cut their target price on Group 1 Automotive from $338.00 to $330.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $392.44.

About Group 1 Automotive

Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.

Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.