Intech Investment Management LLC Purchases Shares of 3,570 Group 1 Automotive, Inc. (NYSE:GPI)

Intech Investment Management LLC purchased a new stake in Group 1 Automotive, Inc. (NYSE:GPI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,570 shares of the company’s stock, valued at approximately $1,367,000.

A number of other hedge funds have also modified their holdings of GPI. The Manufacturers Life Insurance Company raised 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 purchasing an additional 115,143 shares during the last quarter. Hennessy Advisors Inc. grew its holdings in shares of Group 1 Automotive by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 108,500 shares of the company’s stock worth $32,255,000 after buying an additional 16,600 shares in the last quarter. Shellback Capital LP raised its position in shares of Group 1 Automotive by 27.1% in the second quarter. Shellback Capital LP now owns 95,302 shares of the company’s stock valued at $28,331,000 after buying an additional 20,302 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Group 1 Automotive by 596.3% during the third quarter. Thrivent Financial for Lutherans now owns 76,384 shares of the company’s stock valued at $29,259,000 after buying an additional 65,414 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Group 1 Automotive by 57.4% during the third quarter. Assenagon Asset Management S.A. now owns 63,236 shares of the company’s stock worth $24,222,000 after acquiring an additional 23,051 shares during the last quarter. 99.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the firm’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 sale, the vice president now directly owns 6,259 shares in the company, valued at approximately $2,340,928.59. This trade represents a 1.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by corporate insiders.

Group 1 Automotive Stock Performance

NYSE GPI opened at $432.45 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24. Group 1 Automotive, Inc. has a 1-year low of $255.73 and a 1-year high of $440.32. The firm has a market capitalization of $5.76 billion, a P/E ratio of 11.52 and a beta of 1.33. The business’s 50-day simple moving average is $378.88 and its 200-day simple moving average is $343.82.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, beating analysts’ consensus estimates of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The firm had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the previous year, the company posted $12.07 earnings per share. Group 1 Automotive’s revenue was up 11.0% compared to the same quarter last year. Equities analysts predict that Group 1 Automotive, Inc. will post 38.37 EPS for the current year.

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

Group 1 Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.47 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.88 annualized dividend and a yield of 0.43%. Group 1 Automotive’s dividend payout ratio is currently 5.01%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Guggenheim increased their price target on Group 1 Automotive from $420.00 to $442.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. increased their target price on Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Stephens began coverage on shares of Group 1 Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 price objective on the stock. Finally, Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $285.00 to $430.00 in a research report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $425.20.

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.