Insider Buying: Group 1 Automotive (NYSE:GPI) Major Shareholder Purchases $17,327,411.76 in Stock

Group 1 Automotive, Inc. (NYSE:GPI) major shareholder Conifer Management, L.L.C. bought 71,592 shares of Group 1 Automotive stock in a transaction dated Wednesday, September 30th. The stock was purchased at an average cost of $242.03 per share, for a total transaction of $17,327,411.76. Following the purchase, the insider owned 1,912,290 shares of the company’s stock, valued at approximately $462,831,548.70. This trade represents a 3.89% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 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 Monday, September 28th, Conifer Management, L.L.C. bought 133,472 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $243.58 per share, for a total transaction of $32,511,109.76.
• On Tuesday, September 29th, Conifer Management, L.L.C. acquired 68,648 shares of Group 1 Automotive stock. The stock was bought at an average cost of $239.48 per share, with a total value of $16,439,823.04.
• On Friday, September 25th, Conifer Management, L.L.C. bought 50,532 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $252.06 per share, for a total transaction 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, with a total value of $18,787,488.00.
• On Friday, September 18th, Conifer Management, L.L.C. acquired 37,650 shares of Group 1 Automotive stock. The stock was bought 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. purchased 36,647 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $280.86 per share, for a total transaction of $10,292,676.42.
• On Wednesday, September 9th, Conifer Management, L.L.C. bought 47,353 shares of Group 1 Automotive stock. The stock was bought 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. bought 57,159 shares of Group 1 Automotive stock. The shares were acquired at an average cost of $300.15 per share, with a total value of $17,156,273.85.
• On Thursday, September 3rd, Conifer Management, L.L.C. purchased 83,121 shares of Group 1 Automotive stock. The shares were purchased at an average cost of $282.63 per share, for a total transaction of $23,492,488.23.

Group 1 Automotive Trading Down 2.7%

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

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data 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 return on equity of 15.66% and a net margin of 1.31%.The company had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter in the prior year, the firm posted $10.82 EPS. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities analysts forecast that Group 1 Automotive, Inc. will post 38.96 earnings per share for the current year.

Group 1 Automotive Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GPI shares. Zacks Research downgraded Group 1 Automotive from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Benchmark restated a “buy” rating on shares of Group 1 Automotive in a research note on Friday, July 10th. Weiss Ratings lowered shares of Group 1 Automotive from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. JPMorgan Chase & Co. downgraded Group 1 Automotive from an “overweight” rating to a “neutral” rating and cut their target price for the company from $380.00 to $320.00 in a research note on Friday, July 31st. Finally, Morgan Stanley restated 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. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $360.25.

Hedge Funds Weigh In On Group 1 Automotive

Several hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new position in shares of Group 1 Automotive during the 2nd quarter worth approximately $42,000. Global Retirement Partners LLC grew its position in Group 1 Automotive by 78.5% in the fourth quarter. Global Retirement Partners LLC now owns 191 shares of the company’s stock valued at $75,000 after acquiring an additional 84 shares during the period. Anchor Investment Management LLC grew its position in Group 1 Automotive by 112.0% in the second quarter. Anchor Investment Management LLC now owns 212 shares of the company’s stock valued at $62,000 after acquiring an additional 112 shares during the period. Clearstead Advisors LLC raised its stake in Group 1 Automotive by 178.0% during the fourth quarter. Clearstead Advisors LLC now owns 228 shares of the company’s stock worth $90,000 after acquiring an additional 146 shares in the last quarter. Finally, Allworth Financial LP acquired a new stake in shares of Group 1 Automotive during the second quarter worth approximately $75,000. 99.92% of the stock is owned by institutional investors and hedge funds.

Group 1 Automotive Company Profile

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.