Axxcess Wealth Management LLC Cuts Position in Group 1 Automotive, Inc. (NYSE:GPI)

Axxcess Wealth Management LLC decreased its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 3.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 786 shares of the company’s stock after selling 30 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Group 1 Automotive were worth $301,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Assetmark Inc. increased its position in shares of Group 1 Automotive by 51.9% in the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock valued at $31,000 after buying an additional 28 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Group 1 Automotive in the third quarter valued at $36,000. Hexagon Capital Partners LLC increased its position in shares of Group 1 Automotive by 53.7% in the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock valued at $43,000 after buying an additional 51 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Group 1 Automotive in the second quarter valued at $48,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Group 1 Automotive by 17.1% in the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company’s stock valued at $79,000 after buying an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Stock Down 1.5 %

GPI opened at $411.23 on Friday. The company has a quick ratio of 0.24, a current ratio of 1.00 and a debt-to-equity ratio of 0.91. The firm has a market cap of $5.48 billion, a P/E ratio of 10.96, a PEG ratio of 2.09 and a beta of 1.33. Group 1 Automotive, Inc. has a 52 week low of $255.73 and a 52 week high of $422.28. The business’s fifty day simple moving average is $370.72 and its 200 day simple moving average is $337.59.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the company earned $12.07 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts anticipate that Group 1 Automotive, Inc. will post 38.6 EPS for the current fiscal year.

Group 1 Automotive announced that its Board of Directors has initiated a share buyback program on Tuesday, November 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 9.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Group 1 Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 2nd. Group 1 Automotive’s payout ratio is 5.01%.

Insiders Place Their Bets

In other news, VP Edward Mckissic sold 79 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following the completion of the sale, the vice president now owns 6,259 shares in the company, valued at approximately $2,340,928.59. The trade was a 1.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GPI. Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $285.00 to $430.00 in a research report on Wednesday, September 25th. Stephens initiated coverage on Group 1 Automotive in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price target for the company. Bank of America decreased their price objective on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. increased their price objective on Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $397.80.

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.