Martingale Asset Management L P Purchases New Position in Group 1 Automotive, Inc. (GPI)

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Martingale Asset Management L P purchased a new position in Group 1 Automotive, Inc. (NYSE:GPI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,900 shares of the company’s stock, valued at approximately $246,000.

A number of other hedge funds also recently bought and sold shares of GPI. Wells Fargo & Company MN increased its stake in Group 1 Automotive by 4.7% in the 1st quarter. Wells Fargo & Company MN now owns 45,991 shares of the company’s stock worth $3,006,000 after buying an additional 2,067 shares during the period. SG Americas Securities LLC increased its stake in Group 1 Automotive by 142.8% in the 1st quarter. SG Americas Securities LLC now owns 4,060 shares of the company’s stock worth $265,000 after buying an additional 2,388 shares during the period. Boston Partners increased its stake in Group 1 Automotive by 8.0% in the 1st quarter. Boston Partners now owns 216,904 shares of the company’s stock worth $14,172,000 after buying an additional 16,117 shares during the period. Prudential Financial Inc. increased its stake in Group 1 Automotive by 36.9% in the 1st quarter. Prudential Financial Inc. now owns 357,361 shares of the company’s stock worth $23,350,000 after buying an additional 96,349 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in Group 1 Automotive during the 1st quarter worth about $363,000. 99.77% of the stock is currently owned by institutional investors.

In other news, insider Frank Grese sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $76.98, for a total value of $384,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lincoln Pereira sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $79.45, for a total transaction of $1,986,250.00. Following the completion of the sale, the director now owns 67,425 shares in the company, valued at $5,356,916.25. The disclosure for this sale can be found here. Insiders sold a total of 38,200 shares of company stock worth $3,012,805 over the last 90 days. Company insiders own 4.95% of the company’s stock.

Several brokerages have issued reports on GPI. ValuEngine cut shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. Morgan Stanley cut shares of Group 1 Automotive to a “sell” rating in a report on Tuesday, July 10th. Zacks Investment Research upgraded shares of Group 1 Automotive from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Wednesday, June 20th. Finally, Stephens reiterated a “hold” rating and set a $95.00 target price on shares of Group 1 Automotive in a report on Friday, July 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $82.88.

Shares of Group 1 Automotive stock opened at $73.78 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.26 and a debt-to-equity ratio of 1.16. Group 1 Automotive, Inc. has a 1 year low of $59.72 and a 1 year high of $84.47. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 9.54 and a beta of 1.92.

Group 1 Automotive (NYSE:GPI) last issued its earnings results on Thursday, July 26th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.14 by $0.31. Group 1 Automotive had a net margin of 1.97% and a return on equity of 15.73%. The company had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the business earned $1.87 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. equities research analysts forecast that Group 1 Automotive, Inc. will post 8.94 earnings per share for the current fiscal year.

Group 1 Automotive announced that its board has authorized a share repurchase plan on Wednesday, May 16th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, August 31st. Group 1 Automotive’s dividend payout ratio is currently 13.45%.

About Group 1 Automotive

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. It sells new and used cars, light trucks, and vehicle parts; arranges vehicle financing; sells service and insurance contracts; and provides automotive maintenance and repair services. The company has operations primarily in the metropolitan areas of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 28 towns in the United Kingdom; and in the metropolitan markets of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.

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Institutional Ownership by Quarter for Group 1 Automotive (NYSE:GPI)

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