Group 1 Automotive, Inc. (NYSE:GPI) Position Cut by Bridgewater Associates LP

Bridgewater Associates LP lowered its position in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 47.1% in the 3rd quarter, Holdings Channel reports. The fund owned 11,388 shares of the company’s stock after selling 10,140 shares during the period. Bridgewater Associates LP’s holdings in Group 1 Automotive were worth $4,362,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Assetmark Inc. grew its position in Group 1 Automotive by 51.9% in the 3rd quarter. Assetmark Inc. now owns 82 shares of the company’s stock worth $31,000 after purchasing an additional 28 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Group 1 Automotive in the 3rd quarter worth approximately $36,000. Avior Wealth Management LLC acquired a new stake in Group 1 Automotive in the 3rd quarter valued at approximately $46,000. Hexagon Capital Partners LLC raised its stake in Group 1 Automotive by 53.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock valued at $43,000 after acquiring an additional 51 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Group 1 Automotive in the second quarter worth $48,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

Insider Transactions at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the completion of the transaction, the vice president now owns 6,259 shares of the company’s stock, valued at approximately $2,340,928.59. This trade represents a 1.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by insiders.

Group 1 Automotive Price Performance

NYSE GPI opened at $426.87 on Friday. Group 1 Automotive, Inc. has a 1 year low of $255.73 and a 1 year high of $440.32. The business’s fifty day moving average is $381.61 and its two-hundred day moving average is $345.90. The stock has a market capitalization of $5.69 billion, a P/E ratio of 11.37 and a beta of 1.33. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (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 company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the firm earned $12.07 earnings per share. Group 1 Automotive’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, research analysts forecast that Group 1 Automotive, Inc. will post 38.38 earnings per share for the current fiscal year.

Group 1 Automotive announced that its Board of Directors has approved a stock buyback program on Tuesday, November 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 9.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Group 1 Automotive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, December 2nd. Group 1 Automotive’s payout ratio is 5.01%.

Analyst Ratings Changes

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

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.