Group 1 Automotive, Inc. (NYSE:GPI) Shares Sold by Eminence Capital LP

Eminence Capital LP decreased its position in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 13.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,760 shares of the company’s stock after selling 20,212 shares during the period. Eminence Capital LP owned 0.99% of Group 1 Automotive worth $39,764,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Spruce House Investment Management LLC increased its position in Group 1 Automotive by 51.3% during the second quarter. Spruce House Investment Management LLC now owns 29,500 shares of the company’s stock worth $8,770,000 after buying an additional 10,000 shares during the period. Point72 Hong Kong Ltd increased its holdings in shares of Group 1 Automotive by 38.0% in the second quarter. Point72 Hong Kong Ltd now owns 923 shares of the company’s stock valued at $274,000 after purchasing an additional 254 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Group 1 Automotive by 80.1% in the second quarter. Squarepoint Ops LLC now owns 9,168 shares of the company’s stock valued at $2,725,000 after purchasing an additional 4,077 shares during the period. HITE Hedge Asset Management LLC increased its holdings in shares of Group 1 Automotive by 67.8% in the second quarter. HITE Hedge Asset Management LLC now owns 11,707 shares of the company’s stock valued at $3,480,000 after purchasing an additional 4,731 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Group 1 Automotive by 139.4% in the second quarter. Bank of Montreal Can now owns 13,540 shares of the company’s stock valued at $4,131,000 after purchasing an additional 7,885 shares during the period. Institutional investors and hedge funds own 99.92% of the company’s stock.

Group 1 Automotive Stock Down 1.8 %

GPI opened at $378.05 on Thursday. The business’s fifty day moving average is $353.73 and its two-hundred day moving average is $314.23. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.26 and a current ratio of 1.02. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 1.94 and a beta of 1.33. Group 1 Automotive, Inc. has a one year low of $228.84 and a one year high of $393.93.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Wednesday, July 24th. The company reported $9.80 EPS for the quarter, topping analysts’ consensus estimates of $9.36 by $0.44. Group 1 Automotive had a return on equity of 20.53% and a net margin of 3.03%. The company had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the previous year, the business earned $11.73 earnings per share. Group 1 Automotive’s quarterly revenue was up 3.0% compared to the same quarter last year. Analysts anticipate that Group 1 Automotive, Inc. will post 39.18 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.88 annualized dividend and a dividend yield of 0.50%. Group 1 Automotive’s dividend payout ratio is currently 4.44%.

Insider Activity

In other news, VP Michael David Jones sold 1,200 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the sale, the vice president now directly owns 9,742 shares in the company, valued at $3,419,344.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GPI shares. StockNews.com lowered Group 1 Automotive from a “hold” rating to a “sell” rating in a report on Thursday, September 12th. Morgan Stanley raised Group 1 Automotive from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $285.00 to $430.00 in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Group 1 Automotive from $360.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Stephens started coverage on Group 1 Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price target on the stock. Finally, Bank of America decreased their price target 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $396.80.

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.