HighPoint Advisor Group LLC Invests $290,000 in Group 1 Automotive, Inc. (NYSE:GPI)

HighPoint Advisor Group LLC bought a new stake in Group 1 Automotive, Inc. (NYSE:GPI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,030 shares of the company’s stock, valued at approximately $290,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Group 1 Automotive in the 4th quarter valued at $46,923,000. Hennessy Advisors Inc. purchased a new position in Group 1 Automotive in the fourth quarter valued at about $24,562,000. Wellington Management Group LLP acquired a new position in shares of Group 1 Automotive during the fourth quarter worth about $21,296,000. The Manufacturers Life Insurance Company boosted its position in shares of Group 1 Automotive by 12.5% in the third quarter. The Manufacturers Life Insurance Company now owns 574,561 shares of the company’s stock worth $154,390,000 after buying an additional 63,726 shares during the period. Finally, Covalis Capital LLP acquired a new stake in shares of Group 1 Automotive in the third quarter valued at about $16,330,000. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Group 1 Automotive Stock Performance

Shares of GPI opened at $297.90 on Friday. Group 1 Automotive, Inc. has a 52-week low of $228.84 and a 52-week high of $323.95. The company has a quick ratio of 0.27, a current ratio of 1.04 and a debt-to-equity ratio of 0.87. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 7.03, a PEG ratio of 1.58 and a beta of 1.37. The business’s 50 day moving average is $300.47 and its two-hundred day moving average is $286.00.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $9.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.52 by ($0.03). The company had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.30 billion. Group 1 Automotive had a net margin of 3.23% and a return on equity of 22.45%. Analysts forecast that Group 1 Automotive, Inc. will post 38.86 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.47 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 0.63%. Group 1 Automotive’s dividend payout ratio (DPR) is 4.44%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Guggenheim raised Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price target on the stock in a research report on Wednesday, April 17th. JPMorgan Chase & Co. decreased their target price on shares of Group 1 Automotive from $315.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, Morgan Stanley raised shares of Group 1 Automotive from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $200.00 to $255.00 in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $330.83.

Insider Activity at Group 1 Automotive

In other Group 1 Automotive news, VP Edward Mckissic sold 170 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $318.92, for a total transaction of $54,216.40. Following the transaction, the vice president now owns 6,082 shares of the company’s stock, valued at approximately $1,939,671.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Daniel James Mchenry sold 2,437 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $309.61, for a total transaction of $754,519.57. Following the sale, the chief financial officer now owns 22,430 shares in the company, valued at $6,944,552.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Edward Mckissic sold 170 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $318.92, for a total transaction of $54,216.40. Following the completion of the transaction, the vice president now directly owns 6,082 shares in the company, valued at approximately $1,939,671.44. The disclosure for this sale can be found here. Insiders sold a total of 4,007 shares of company stock valued at $1,221,218 over the last three months. 1.70% of the stock is owned by insiders.

About Group 1 Automotive

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.