Evanson Asset Management LLC purchased a new position in Group 1 Automotive, Inc. (NYSE:GPI – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,150 shares of the company’s stock, valued at approximately $225,000.
A number of other hedge funds have also modified their holdings of the business. Royal Bank of Canada increased its stake in Group 1 Automotive by 52.4% in the 2nd quarter. Royal Bank of Canada now owns 9,055 shares of the company’s stock worth $1,399,000 after purchasing an additional 3,115 shares during the period. Metropolitan Life Insurance Co NY increased its position in shares of Group 1 Automotive by 99,580.0% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 4,984 shares of the company’s stock valued at $770,000 after purchasing an additional 4,979 shares during the last quarter. Invesco Ltd. grew its stake in Group 1 Automotive by 39.7% in the 2nd quarter. Invesco Ltd. now owns 154,414 shares of the company’s stock worth $23,845,000 after acquiring an additional 43,859 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Group 1 Automotive by 6.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 48,962 shares of the company’s stock valued at $7,561,000 after purchasing an additional 2,960 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Group 1 Automotive during the second quarter valued at about $521,000. 96.94% of the stock is currently owned by institutional investors and hedge funds.
Shares of Group 1 Automotive stock traded up $4.89 during trading hours on Wednesday, reaching $192.42. 10,451 shares of the company’s stock were exchanged, compared to its average volume of 197,481. The company has a market capitalization of $3.28 billion, a P/E ratio of 6.24, a price-to-earnings-growth ratio of 0.41 and a beta of 1.69. The company has a quick ratio of 0.38, a current ratio of 1.08 and a debt-to-equity ratio of 0.99. Group 1 Automotive, Inc. has a 1 year low of $143.00 and a 1 year high of $212.23. The business has a fifty day moving average of $179.57 and a two-hundred day moving average of $185.96.
Group 1 Automotive (NYSE:GPI – Get Rating) last released its quarterly earnings results on Thursday, February 10th. The company reported $9.43 earnings per share for the quarter, topping analysts’ consensus estimates of $9.06 by $0.37. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Group 1 Automotive had a return on equity of 35.83% and a net margin of 3.98%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $5.66 EPS. As a group, research analysts predict that Group 1 Automotive, Inc. will post 37.88 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Tuesday, March 1st were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.75%. The ex-dividend date was Monday, February 28th. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.35. Group 1 Automotive’s dividend payout ratio (DPR) is 4.79%.
In other news, SVP Frank Grese sold 4,378 shares of Group 1 Automotive stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $183.97, for a total value of $805,420.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael David Jones sold 4,000 shares of Group 1 Automotive stock in a transaction on Monday, February 28th. The stock was sold at an average price of $180.20, for a total transaction of $720,800.00. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.
GPI has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on Group 1 Automotive from $200.00 to $187.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 8th. StockNews.com downgraded shares of Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a report on Monday, February 28th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $226.60.
Group 1 Automotive Profile (Get Rating)
Group 1 Automotive, Inc engages in the automotive retailing industry. The firm operates through the following geographical segments: U.S, the UK, and Brazil. It also sells new and used cars and light trucks, arranges related vehicle financing, sells service contracts, provides automotive maintenance and repair services, and sells vehicle parts.
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