Algert Global LLC Sells 30,343 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Algert Global LLC reduced its position in Group 1 Automotive, Inc. (NYSE:GPI) by 69.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,424 shares of the company’s stock after selling 30,343 shares during the quarter. Algert Global LLC’s holdings in Group 1 Automotive were worth $5,142,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in Group 1 Automotive by 22.0% in the second 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 during the period. Charles Schwab Investment Management Inc. raised its position in shares of Group 1 Automotive by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 152,923 shares of the company’s stock worth $58,576,000 after acquiring an additional 1,735 shares in the last quarter. Woodson Capital Management LP lifted its stake in shares of Group 1 Automotive by 114.6% in 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. Hennessy Advisors Inc. boosted its position in shares of 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 purchasing an additional 16,600 shares in the last quarter. Finally, Shellback Capital LP grew its stake in Group 1 Automotive by 27.1% during the second 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. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Group 1 Automotive Stock Up 3.1 %

Group 1 Automotive stock opened at $421.14 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91. The firm’s fifty day moving average price is $377.50 and its two-hundred day moving average price is $342.90. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 11.22 and a beta of 1.33. Group 1 Automotive, Inc. has a 1-year low of $255.73 and a 1-year high of $422.92.

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

Group 1 Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued 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 is 5.01%.

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

Wall Street Analysts Forecast Growth

GPI has been the topic of several recent analyst reports. 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. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on shares of Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. StockNews.com raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Guggenheim boosted their target price on Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $425.20.

Insider Transactions at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total transaction of $29,546.79. Following the transaction, the vice president now directly owns 6,259 shares in the company, valued at approximately $2,340,928.59. The trade was a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

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.