Insider Buying: Group 1 Automotive (NYSE:GPI) Major Shareholder Acquires $32,511,109.76 in Stock

Group 1 Automotive, Inc. (NYSE:GPI – Get Free Report) major shareholder Conifer Management, L.L.C. bought 133,472 shares of Group 1 Automotive stock in a transaction that occurred on Monday, September 28th. The shares were acquired at an average cost of $243.58 per share, for a total transaction of $32,511,109.76. Following the completion of the transaction, the insider directly owned 1,772,050 shares in the company, valued at $431,635,939. This represents a 8.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Wednesday, September 30th, Conifer Management, L.L.C. acquired 71,592 shares of Group 1 Automotive stock. The shares were bought at an average price of $242.03 per share, for a total transaction of $17,327,411.76.
  • On Tuesday, September 29th, Conifer Management, L.L.C. bought 68,648 shares of Group 1 Automotive stock. The stock was bought at an average price of $239.48 per share, with a total value of $16,439,823.04.
  • On Friday, September 25th, Conifer Management, L.L.C. purchased 50,532 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $252.06 per share, with a total value of $12,737,095.92.
  • On Thursday, September 24th, Conifer Management, L.L.C. acquired 75,756 shares of Group 1 Automotive stock. The stock was purchased at an average cost of $248.00 per share, for a total transaction of $18,787,488.00.
  • On Friday, September 18th, Conifer Management, L.L.C. bought 37,650 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $249.88 per share, with a total value of $9,407,982.00.
  • On Thursday, September 17th, Conifer Management, L.L.C. acquired 28,000 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $266.06 per share, for a total transaction of $7,449,680.00.
  • On Thursday, September 10th, Conifer Management, L.L.C. acquired 36,647 shares of Group 1 Automotive stock. The shares were bought at an average price of $280.86 per share, with a total value of $10,292,676.42.
  • On Wednesday, September 9th, Conifer Management, L.L.C. purchased 47,353 shares of Group 1 Automotive stock. The shares were bought at an average price of $282.48 per share, with a total value of $13,376,275.44.
  • On Friday, September 4th, Conifer Management, L.L.C. purchased 57,159 shares of Group 1 Automotive stock. The stock was bought at an average cost of $300.15 per share, for a total transaction of $17,156,273.85.
  • 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 cost of $282.63 per share, with a total value of $23,492,488.23.

Group 1 Automotive Stock Down 2.7%

Shares of GPI opened at $249.81 on Friday. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.77 and a beta of 0.92. Group 1 Automotive, Inc. has a one year low of $234.05 and a one year high of $461.27. The stock has a 50 day moving average price of $271.99 and a 200 day moving average price of $304.61. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 1.02.

Group 1 Automotive (NYSE:GPI – Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $5.39 billion for the quarter, compared to analyst estimates of $5.66 billion. Group 1 Automotive had a return on equity of 15.66% and a net margin of 1.31%.Group 1 Automotive’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.82 earnings per share. Equities research analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, September 1st. Group 1 Automotive’s payout ratio is 9.16%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GPI. WINTON GROUP Ltd purchased a new stake in shares of Group 1 Automotive in the fourth quarter valued at $5,167,000. Norges Bank acquired a new position in Group 1 Automotive during the 4th quarter worth approximately $98,125,000. BlackRock Inc. purchased a new position in Group 1 Automotive in the 2nd quarter valued at about $593,420,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Group 1 Automotive by 51.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,794 shares of the company’s stock valued at $26,064,000 after buying an additional 26,822 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Group 1 Automotive by 75.1% in the first quarter. Sei Investments Co. now owns 12,264 shares of the company’s stock worth $4,054,000 after purchasing an additional 5,262 shares in the last quarter. Institutional investors and hedge funds own 99.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Seaport Research Partners set a $420.00 price objective on Group 1 Automotive in a report on Monday, August 3rd. DA Davidson set a $425.00 price objective on shares of Group 1 Automotive in a report on Friday, July 10th. Barclays cut their price target on shares of Group 1 Automotive from $435.00 to $365.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th. Evercore set a $360.00 price objective on shares of Group 1 Automotive in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. lowered Group 1 Automotive from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $380.00 to $320.00 in a report on Friday, July 31st. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $360.25.

Check Out Our Latest Analysis on GPI

About Group 1 Automotive

(Get Free Report)

Group 1 Automotive, Inc is an international automotive retailer that operates franchised automobile dealerships. The company sells new and used vehicles from a range of manufacturers and provides related automotive services, including vehicle maintenance and repairs, parts and accessories, financing, and insurance products.

Founded in 1997 and headquartered in Houston, Texas, Group 1 Automotive serves customers through dealership operations in the United States and the United Kingdom, as well as other international markets.

See Also

Insider Buying and Selling by Quarter for Group 1 Automotive (NYSE:GPI)

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