Insider Buying: Group 1 Automotive (NYSE:GPI) Major Shareholder Acquires $10,292,676.42 in Stock

Group 1 Automotive, Inc. (NYSE:GPI) major shareholder Conifer Management, L.L.C. purchased 36,647 shares of the stock in a transaction dated Thursday, September 10th. The shares were acquired at an average price of $280.86 per share, with a total value of $10,292,676.42. Following the transaction, the insider owned 1,446,640 shares in the company, valued at $406,303,310.40. This trade represents a 2.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, September 9th, Conifer Management, L.L.C. acquired 47,353 shares of Group 1 Automotive stock. The stock was acquired at an average price of $282.48 per share, for a total transaction of $13,376,275.44.
• On Friday, September 4th, Conifer Management, L.L.C. acquired 57,159 shares of Group 1 Automotive stock. The stock was acquired at an average price of $300.15 per share, for a total transaction of $17,156,273.85.
• On Thursday, September 3rd, Conifer Management, L.L.C. acquired 83,121 shares of Group 1 Automotive stock. The stock was acquired at an average cost of $282.63 per share, for a total transaction of $23,492,488.23.
• On Wednesday, September 2nd, Conifer Management, L.L.C. bought 26,561 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $276.03 per share, with a total value of $7,331,632.83.
• On Tuesday, September 1st, Conifer Management, L.L.C. bought 3,539 shares of Group 1 Automotive stock. The shares were acquired at an average price of $269.66 per share, with a total value of $954,326.74.

Group 1 Automotive Trading Down 1.3%

Shares of GPI stock traded down $3.60 during trading hours on Friday, reaching $278.24. The company had a trading volume of 121,142 shares, compared to its average volume of 189,817. The company has a 50 day moving average of $289.22 and a 200 day moving average of $311.88. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.02 and a quick ratio of 0.25. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 0.87 and a beta of 0.82. Group 1 Automotive, Inc. has a 1-year low of $249.54 and a 1-year high of $485.57.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Thursday, July 30th. The company reported $9.61 EPS for the quarter, missing analysts’ consensus estimates of $10.60 by ($0.99). The company 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%.The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the firm earned $10.82 earnings per share. On average, equities research analysts anticipate that Group 1 Automotive, Inc. will post 38.96 EPS for the current year.

Group 1 Automotive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Group 1 Automotive’s payout ratio is presently 9.16%.

Institutional Investors Weigh In On Group 1 Automotive

Several large investors have recently made changes to their positions in GPI. Johnson Financial Group Inc. acquired a new stake in shares of Group 1 Automotive during the third quarter worth $55,000. Integrated Wealth Concepts LLC acquired a new position in Group 1 Automotive in the 2nd quarter worth $42,000. Aster Capital Management DIFC Ltd bought a new position in Group 1 Automotive during the 4th quarter worth about $57,000. Global Retirement Partners LLC increased its holdings in Group 1 Automotive by 78.5% during the 4th quarter. Global Retirement Partners LLC now owns 191 shares of the company’s stock worth $75,000 after purchasing an additional 84 shares in the last quarter. Finally, State of Wyoming raised its stake in shares of Group 1 Automotive by 28.2% in the 4th quarter. State of Wyoming now owns 191 shares of the company’s stock valued at $75,000 after purchasing an additional 42 shares during the period. Institutional investors own 99.92% of the company’s stock.

Analyst Ratings Changes

GPI has been the topic of several recent analyst reports. Zacks Research lowered shares of Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Barclays lowered their target price on shares of 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. Seaport Research Partners set a $420.00 price target on shares of Group 1 Automotive in a research report on Monday, August 3rd. JPMorgan Chase & Co. lowered shares of Group 1 Automotive from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $380.00 to $320.00 in a report on Friday, July 31st. Finally, Weiss Ratings cut shares of Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Five research 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. Based on data from MarketBeat, Group 1 Automotive presently has an average rating of “Hold” and a consensus price target of $373.38.

Group 1 Automotive Company Profile

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.