Procyon Advisors LLC Reduces Position in Group 1 Automotive, Inc. (NYSE:GPI)

Procyon Advisors LLC decreased its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 12.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 615 shares of the company’s stock after selling 86 shares during the period. Procyon Advisors LLC’s holdings in Group 1 Automotive were worth $236,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GPI. The Manufacturers Life Insurance Company grew its stake in Group 1 Automotive by 22.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock valued at $190,004,000 after buying an additional 115,143 shares in the last quarter. Woodson Capital Management LP raised its stake in shares of Group 1 Automotive by 114.6% during the 1st quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock valued at $41,643,000 after purchasing an additional 76,102 shares during the period. Wellington Management Group LLP purchased a new stake in Group 1 Automotive during the 4th quarter worth about $21,296,000. Shellback Capital LP boosted its stake in Group 1 Automotive by 27.1% in the 2nd quarter. Shellback Capital LP now owns 95,302 shares of the company’s stock worth $28,331,000 after purchasing an additional 20,302 shares during the period. Finally, Hennessy Advisors Inc. grew its holdings in Group 1 Automotive by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 108,500 shares of the company’s stock valued at $32,255,000 after buying an additional 16,600 shares in the last quarter. Institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Trading Up 2.7 %

NYSE GPI opened at $366.44 on Thursday. The company has a quick ratio of 0.26, a current ratio of 1.02 and a debt-to-equity ratio of 0.80. The stock’s 50-day simple moving average is $363.26 and its two-hundred day simple moving average is $323.37. Group 1 Automotive, Inc. has a twelve month low of $228.84 and a twelve month high of $393.93. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 1.78 and a beta of 1.32.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $9.80 earnings per share for the quarter, beating 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 analysts’ expectations of $4.68 billion. During the same period last year, the firm posted $11.73 EPS. Group 1 Automotive’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts forecast that Group 1 Automotive, Inc. will post 39.39 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Friday, August 30th. Group 1 Automotive’s payout ratio is presently 4.44%.

Insiders Place Their Bets

In other news, VP Michael David Jones sold 1,200 shares of Group 1 Automotive stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the transaction, the vice president now owns 9,742 shares in the company, valued at approximately $3,419,344.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GPI has been the topic of a number of recent analyst reports. Bank of America lowered their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. StockNews.com lowered shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a research report on Tuesday. Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $285.00 to $430.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their target price on Group 1 Automotive from $360.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Finally, Stephens assumed coverage on Group 1 Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Group 1 Automotive currently has an average rating of “Moderate Buy” and a consensus target price of $396.80.

Group 1 Automotive Company Profile

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.