Group 1 Automotive, Inc. (NYSE:GPI - Get Free Report) Director Lincoln Pereira sold 6,000 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $426.68, for a total value of $2,560,080.00. Following the sale, the director now directly owns 98,467 shares of the company's stock, valued at $42,013,899.56. This represents a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Group 1 Automotive Stock Performance
Shares of GPI opened at $411.01 on Thursday. The stock has a 50-day moving average price of $395.09 and a 200-day moving average price of $356.99. 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 company has a market cap of $5.47 billion, a PE ratio of 10.95 and a beta of 1.35. Group 1 Automotive, Inc. has a 12-month low of $255.73 and a 12-month high of $440.32.
Group 1 Automotive (NYSE:GPI - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, topping analysts' consensus estimates of $9.87 by $0.03. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. Group 1 Automotive's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.07 EPS. As a group, equities analysts forecast that Group 1 Automotive, Inc. will post 38.37 earnings per share for the current fiscal year.
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Group 1 Automotive announced that its Board of Directors has authorized a share buyback program on Tuesday, November 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 9.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.
Group 1 Automotive Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, December 2nd. Group 1 Automotive's dividend payout ratio (DPR) is presently 5.01%.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on GPI. StockNews.com raised Group 1 Automotive from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their target price on Group 1 Automotive from $420.00 to $425.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Guggenheim lifted their target price 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. Stephens started coverage on Group 1 Automotive in a research report on Thursday, September 12th. They set an "equal weight" rating and a $394.00 price target on the stock. Finally, Morgan Stanley raised Group 1 Automotive from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Group 1 Automotive presently has an average rating of "Moderate Buy" and an average target price of $437.67.
Read Our Latest Analysis on GPI
Institutional Trading of Group 1 Automotive
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GPI. FMR LLC raised its position in shares of Group 1 Automotive by 133.0% in the 3rd quarter. FMR LLC now owns 407,930 shares of the company's stock worth $156,253,000 after acquiring an additional 232,846 shares in the last quarter. The Manufacturers Life Insurance Company grew 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 worth $190,004,000 after purchasing an additional 115,143 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Group 1 Automotive by 596.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 76,384 shares of the company's stock worth $29,259,000 after purchasing an additional 65,414 shares in the last quarter. Verition Fund Management LLC increased its position in Group 1 Automotive by 3,663.1% during the 3rd quarter. Verition Fund Management LLC now owns 55,280 shares of the company's stock valued at $21,174,000 after buying an additional 53,811 shares in the last quarter. Finally, Barclays PLC raised its stake in Group 1 Automotive by 244.7% during the third quarter. Barclays PLC now owns 56,319 shares of the company's stock valued at $21,573,000 after buying an additional 39,982 shares during the last quarter. Hedge funds and other institutional investors own 99.92% of the company's stock.
About Group 1 Automotive
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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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