Group 1 Automotive, Inc. (NYSE:GPI) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its position in Group 1 Automotive, Inc. (NYSE:GPI) by 32.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,225 shares of the company’s stock after acquiring an additional 792 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Group 1 Automotive were worth $1,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in Group 1 Automotive by 8.0% during the 3rd quarter. Victory Capital Management Inc. now owns 35,298 shares of the company’s stock worth $13,521,000 after purchasing an additional 2,616 shares during the last quarter. Aigen Investment Management LP boosted its position in Group 1 Automotive by 20.7% during the third quarter. Aigen Investment Management LP now owns 1,650 shares of the company’s stock worth $632,000 after acquiring an additional 283 shares during the last quarter. Atria Investments Inc grew its stake in Group 1 Automotive by 2.6% during the 3rd quarter. Atria Investments Inc now owns 2,225 shares of the company’s stock valued at $852,000 after acquiring an additional 57 shares in the last quarter. Assetmark Inc. raised its holdings in Group 1 Automotive by 51.9% in the 3rd quarter. Assetmark Inc. now owns 82 shares of the company’s stock valued at $31,000 after acquiring an additional 28 shares during the last quarter. Finally, Financial Strategies Group Inc. purchased a new position in Group 1 Automotive in the 3rd quarter worth approximately $458,000. 99.92% of the stock is owned by institutional investors and hedge funds.

Group 1 Automotive Stock Performance

NYSE GPI opened at $414.81 on Monday. The stock has a market cap of $5.52 billion, a PE ratio of 11.05, a P/E/G ratio of 2.13 and a beta of 1.33. Group 1 Automotive, Inc. has a twelve month low of $255.73 and a twelve month high of $422.28. The stock has a fifty day simple moving average of $371.84 and a 200-day simple moving average of $339.02. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, topping the consensus estimate of $9.87 by $0.03. The company had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.06 billion. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. Group 1 Automotive’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $12.07 earnings per share. Equities analysts anticipate that Group 1 Automotive, Inc. will post 38.52 earnings per share for the current year.

Group 1 Automotive Dividend Announcement

The company 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 dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, December 2nd. Group 1 Automotive’s dividend payout ratio (DPR) is 5.01%.

Group 1 Automotive declared that its board has initiated a share buyback plan on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

GPI has been the subject of a number of analyst reports. Stephens assumed 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. StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on shares of Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $285.00 to $430.00 in a report on Wednesday, September 25th. Finally, Bank of America reduced their target price on shares of 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Group 1 Automotive presently has an average rating of “Moderate Buy” and an average price target of $397.80.

Insider Transactions at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the 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 transaction, the vice president now owns 6,259 shares of the company’s stock, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Group 1 Automotive 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.