Convergence Investment Partners LLC purchased a new stake in shares of Group 1 Automotive Inc. (NYSE:GPI) during the second quarter, Holdings Channel reports. The fund purchased 11,613 shares of the company’s stock, valued at approximately $573,000. Convergence Investment Partners LLC owned about 0.06% of Group 1 Automotive as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of Group 1 Automotive by 131.7% in the first quarter. Goldman Sachs Group Inc. now owns 219,234 shares of the company’s stock worth $12,867,000 after buying an additional 124,602 shares in the last quarter. Hillcrest Asset Management LLC bought a new position in shares of Group 1 Automotive during the first quarter worth approximately $4,727,000. BlackRock Institutional Trust Company N.A. boosted its position in shares of Group 1 Automotive by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 688,829 shares of the company’s stock worth $40,427,000 after buying an additional 4,440 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Group 1 Automotive by 614.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 61,830 shares of the company’s stock worth $3,629,000 after buying an additional 53,170 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Group 1 Automotive by 6.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 5,374 shares of the company’s stock worth $315,000 after buying an additional 325 shares in the last quarter. 97.19% of the stock is currently owned by hedge funds and other institutional investors.

Group 1 Automotive Inc. (NYSE:GPI) opened at 59.85 on Tuesday. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 15.04 and a beta of 1.63. The stock’s 50 day moving average price is $60.15 and its 200-day moving average price is $58.53. Group 1 Automotive Inc. has a 12 month low of $47.31 and a 12 month high of $89.64.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Thursday, July 28th. The company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.07. The business earned $2.10 billion during the quarter, compared to the consensus estimate of $2.86 billion. Group 1 Automotive had a net margin of 0.82% and a return on equity of 17.97%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 earnings per share. Equities analysts expect that Group 1 Automotive Inc. will post $7.54 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 1.54%. Group 1 Automotive’s dividend payout ratio (DPR) is presently 22.66%.

A number of equities research analysts have issued reports on the company. Zacks Investment Research lowered Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 12th. Seaport Global Securities assumed coverage on Group 1 Automotive in a research note on Tuesday, August 9th. They issued a “neutral” rating for the company. TheStreet upgraded Group 1 Automotive from a “hold” rating to a “buy” rating in a research note on Thursday, September 15th. Finally, Buckingham Research upgraded Group 1 Automotive from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Group 1 Automotive currently has a consensus rating of “Hold” and a consensus target price of $83.00.

In related news, VP Peter C. Delongchamps sold 7,500 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $61.22, for a total transaction of $459,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Darryl M. Burman sold 2,000 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $58.90, for a total transaction of $117,800.00. Following the transaction, the vice president now owns 72,633 shares of the company’s stock, valued at approximately $4,278,083.70. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

About Group 1 Automotive

Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.

5 Day Chart for NYSE:GPI

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