Edgestream Partners L.P. acquired a new stake in shares of Group 1 Automotive, Inc. (NYSE:GPI – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,160 shares of the company’s stock, valued at approximately $1,590,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. raised its position in Group 1 Automotive by 54.6% during the third quarter. Federated Hermes Inc. now owns 252 shares of the company’s stock valued at $36,000 after purchasing an additional 89 shares during the period. Amundi bought a new position in shares of Group 1 Automotive during the fourth quarter valued at approximately $41,000. EverSource Wealth Advisors LLC grew its stake in shares of Group 1 Automotive by 255.3% during the second quarter. EverSource Wealth Advisors LLC now owns 167 shares of the company’s stock valued at $43,000 after buying an additional 120 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Group 1 Automotive by 11.9% during the first quarter. Tower Research Capital LLC TRC now owns 469 shares of the company’s stock valued at $106,000 after buying an additional 50 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new position in shares of Group 1 Automotive during the second quarter valued at approximately $198,000. 99.92% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently commented on GPI shares. Benchmark upped their target price on Group 1 Automotive from $300.00 to $340.00 in a research note on Monday, July 31st. JPMorgan Chase & Co. upped their target price on Group 1 Automotive from $305.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 31st. Morgan Stanley increased their price objective on Group 1 Automotive from $134.00 to $200.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 9th. Finally, StockNews.com raised Group 1 Automotive from a “hold” rating to a “buy” rating in a research note on Tuesday, October 3rd.
Group 1 Automotive Stock Up 0.2 %
Shares of NYSE GPI opened at $283.66 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.30 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $3.92 billion, a PE ratio of 6.23 and a beta of 1.42. The stock’s fifty day simple moving average is $260.46 and its two-hundred day simple moving average is $252.69. Group 1 Automotive, Inc. has a 12-month low of $159.87 and a 12-month high of $293.77.
Group 1 Automotive (NYSE:GPI – Get Free Report) last announced its earnings results on Wednesday, October 25th. The company reported $12.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.48 by $0.59. The business had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Group 1 Automotive had a return on equity of 26.41% and a net margin of 3.67%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $12.00 EPS. As a group, analysts expect that Group 1 Automotive, Inc. will post 45.19 EPS for the current fiscal year.
Group 1 Automotive Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.80 annualized dividend and a dividend yield of 0.63%. Group 1 Automotive’s dividend payout ratio is presently 3.95%.
In other news, CFO Daniel James Mchenry sold 2,259 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $264.96, for a total transaction of $598,544.64. Following the completion of the sale, the chief financial officer now owns 19,355 shares in the company, valued at approximately $5,128,300.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.50% 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.
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