Group 1 Automotive (NYSE:GPI) Stock: Insider Conifer Management, L.L.C. Acquires 20,471 Shares

Group 1 Automotive, Inc. (NYSE:GPI) major shareholder Conifer Management, L.L.C. purchased 20,471 shares of the stock in a transaction on Monday, October 26th. The stock was acquired at an average price of $246.14 per share, for a total transaction of $5,038,731.94. Following the completion of the purchase, the insider directly owned 2,012,290 shares in the company, valued at approximately $495,305,060.60. The trade was a 1.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, October 23rd, Conifer Management, L.L.C. acquired 34,529 shares of Group 1 Automotive stock. The shares were acquired at an average price of $242.41 per share, with a total value of $8,370,174.89.
• On Thursday, October 22nd, Conifer Management, L.L.C. acquired 45,000 shares of Group 1 Automotive stock. The shares were acquired at an average price of $240.52 per share, with a total value of $10,823,400.00.
• On Monday, September 28th, Conifer Management, L.L.C. acquired 133,472 shares of Group 1 Automotive stock. The stock was bought at an average price of $243.58 per share, with a total value of $32,511,109.76.
• On Wednesday, September 30th, Conifer Management, L.L.C. bought 71,592 shares of Group 1 Automotive stock. The stock was bought at an average cost 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 shares were bought at an average price of $239.48 per share, for a total transaction 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 bought 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. purchased 75,756 shares of Group 1 Automotive stock. The shares were bought at an average cost of $248.00 per share, with a total value of $18,787,488.00.
• On Friday, September 18th, Conifer Management, L.L.C. purchased 37,650 shares of Group 1 Automotive stock. The stock was bought at an average price of $249.88 per share, with a total value of $9,407,982.00.
• On Thursday, September 17th, Conifer Management, L.L.C. purchased 28,000 shares of Group 1 Automotive stock. The shares were bought 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, for a total transaction of $10,292,676.42.

Group 1 Automotive Stock Down 0.3%

Shares of NYSE GPI traded down $0.72 during trading hours on Monday, hitting $244.25. The company had a trading volume of 235,954 shares, compared to its average volume of 262,904. The stock has a market capitalization of $2.91 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 1.50 and a beta of 0.92. The company has a quick ratio of 0.25, a current ratio of 1.02 and a debt-to-equity ratio of 1.03. Group 1 Automotive, Inc. has a 1-year low of $224.65 and a 1-year high of $429.00. The firm’s 50 day moving average is $254.89 and its 200-day moving average is $310.29.

Group 1 Automotive (NYSE:GPI) last released its earnings results on Thursday, July 30th. The company reported $9.61 earnings per share for the quarter, missing the consensus estimate of $10.60 by ($0.99). The firm had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.66 billion. Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.66%. Group 1 Automotive’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $10.82 earnings per share. On average, analysts expect that Group 1 Automotive, Inc. will post 37.68 earnings per share for the current fiscal year.

Group 1 Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Group 1 Automotive’s dividend payout ratio (DPR) is 9.16%.

Institutional Trading of Group 1 Automotive

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Group 1 Automotive in the 2nd quarter valued at about $593,420,000. Conifer Management L.L.C. bought a new position in Group 1 Automotive in the 2nd quarter valued at about $281,561,390. Dimensional Fund Advisors LP lifted its position in Group 1 Automotive by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 688,416 shares of the company’s stock worth $227,612,000 after acquiring an additional 10,100 shares during the last quarter. Lakewood Capital Management LP acquired a new stake in Group 1 Automotive during the second quarter worth approximately $72,098,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Group 1 Automotive during the second quarter worth approximately $57,174,000. Institutional investors own 99.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GPI shares. Seaport Research Partners set a $420.00 price objective on shares of Group 1 Automotive in a research note on Monday, August 3rd. Weiss Ratings downgraded shares of Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. Citigroup reduced their price target on Group 1 Automotive from $387.00 to $357.00 and set a “buy” rating for the company in a report on Monday, September 28th. DA Davidson set a $425.00 price target on Group 1 Automotive in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Group 1 Automotive from $275.00 to $260.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $341.67.

About Group 1 Automotive

Group 1 Automotive, Inc is an international automotive retailer headquartered in Houston, Texas. The company operates dealerships that sell new and used automobiles and light trucks from a broad range of manufacturers.

In addition to vehicle sales, Group 1 Automotive provides automotive financing and insurance products, vehicle maintenance and repair, collision services, replacement parts, and other related services. Its dealerships also market vehicles through digital retailing platforms.

Founded in 1997, Group 1 Automotive serves customers through a network of dealerships and automotive service locations in the United States, the United Kingdom, and Brazil.