Insider Buying: Group 1 Automotive (NYSE:GPI) Major Shareholder Acquires 68,648 Shares of Company Stock

Group 1 Automotive, Inc. (NYSE:GPI) major shareholder Conifer Management, L.L.C. purchased 68,648 shares of the business’s stock in a transaction on Tuesday, September 29th. The stock was purchased at an average price of $239.48 per share, for a total transaction of $16,439,823.04. Following the acquisition, the insider owned 1,840,698 shares of the company’s stock, valued at approximately $440,810,357.04. This represents a 3.87% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 cost of $242.03 per share, with a total value of $17,327,411.76.
• On Friday, September 25th, Conifer Management, L.L.C. purchased 50,532 shares of Group 1 Automotive stock. The stock was 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 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 stock was acquired at an average price of $249.88 per share, for a total transaction 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 acquired at an average cost of $266.06 per share, with a total value of $7,449,680.00.
• On Thursday, September 10th, Conifer Management, L.L.C. purchased 36,647 shares of Group 1 Automotive stock. The shares were acquired at an average price of $280.86 per share, for a total transaction of $10,292,676.42.
• 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 cost 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, with a total value 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 acquired at an average cost of $282.63 per share, with a total value 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 price of $276.03 per share, for a total transaction of $7,331,632.83.

Group 1 Automotive Stock Performance

Shares of NYSE GPI traded up $0.61 during mid-day trading on Wednesday, reaching $241.54. 354,508 shares of the company’s stock were exchanged, compared to its average volume of 273,875. The firm has a 50-day moving average price of $275.01 and a two-hundred day moving average price of $305.30. 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 capitalization of $2.88 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 0.73 and a beta of 0.82. Group 1 Automotive, Inc. has a 52 week low of $235.11 and a 52 week high of $461.27.

Group 1 Automotive (NYSE:GPI) last posted its quarterly 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). Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.66%. The company had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the company posted $10.82 EPS. Group 1 Automotive’s quarterly revenue was down 5.6% compared to the same quarter last year. Analysts predict that Group 1 Automotive, Inc. will post 38.96 EPS for the current year.

Group 1 Automotive Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on GPI shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $300.00 price target (down from $400.00) on shares of Group 1 Automotive in a research report on Friday, August 7th. Weiss Ratings downgraded Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. Benchmark reaffirmed a “buy” rating on shares of Group 1 Automotive in a report on Friday, July 10th. Barclays decreased their price target on Group 1 Automotive from $435.00 to $365.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. lowered shares of Group 1 Automotive from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $380.00 to $320.00 in a research report on Friday, July 31st. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $360.25.

Hedge Funds Weigh In On Group 1 Automotive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GPI. BlackRock Inc. bought a new stake in shares of Group 1 Automotive during the 2nd quarter valued at about $593,420,000. Conifer Management L.L.C. bought a new stake in Group 1 Automotive during the second quarter valued at approximately $281,561,390. Norges Bank purchased a new position in Group 1 Automotive in the 4th quarter worth approximately $98,125,000. Lakewood Capital Management LP bought a new stake in shares of Group 1 Automotive during the 2nd quarter worth $72,098,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Group 1 Automotive in the second quarter worth $57,174,000. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

About Group 1 Automotive

Group 1 Automotive, Inc is an international automotive retailer that operates franchised dealerships in the United States and the United Kingdom. The company sells new and used vehicles from a broad range of manufacturers, including domestic, Asian and European brands.

In addition to vehicle sales, Group 1 Automotive provides automotive maintenance and repair services, sells replacement parts and accessories, and offers financing, insurance and other related products. Its dealerships also support customers through collision-repair operations and online vehicle purchasing tools.

Founded in 1997 and headquartered in Houston, Texas, Group 1 Automotive has expanded through dealership acquisitions and organic growth.