Oppenheimer Asset Management Inc. Has $723,000 Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Oppenheimer Asset Management Inc. grew its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 18.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,433 shares of the company’s stock after buying an additional 386 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Group 1 Automotive were worth $723,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Principal Securities Inc. acquired a new position in Group 1 Automotive in the 4th quarter valued at approximately $27,000. Hexagon Capital Partners LLC raised its stake in shares of Group 1 Automotive by 53.7% in the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock valued at $43,000 after purchasing an additional 51 shares in the last quarter. Headlands Technologies LLC bought a new position in Group 1 Automotive in the second quarter worth $48,000. EverSource Wealth Advisors LLC boosted its stake in Group 1 Automotive by 37.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the company’s stock worth $65,000 after buying an additional 58 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Group 1 Automotive by 47.5% in the 2nd quarter. Blue Trust Inc. now owns 270 shares of the company’s stock valued at $79,000 after buying an additional 87 shares during the period. Institutional investors own 99.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on GPI shares. Morgan Stanley lifted their target price on shares of Group 1 Automotive from $260.00 to $285.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. upped their price objective on Group 1 Automotive from $360.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Bank of America cut their target price on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. StockNews.com cut Group 1 Automotive from a “hold” rating to a “sell” rating in a research report on Thursday, September 12th. Finally, Stephens assumed coverage on Group 1 Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $367.80.

Insider Activity

In other Group 1 Automotive news, VP Michael David Jones sold 1,200 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total transaction of $421,188.00. Following the transaction, the vice president now owns 9,742 shares of the company’s stock, valued at approximately $3,419,344.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.70% of the stock is owned by insiders.

Group 1 Automotive Trading Down 2.3 %

GPI stock opened at $382.97 on Friday. The business has a fifty day moving average price of $349.33 and a 200 day moving average price of $311.38. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.02 and a quick ratio of 0.26. Group 1 Automotive, Inc. has a fifty-two week low of $228.84 and a fifty-two week high of $393.93. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 9.04, a P/E/G ratio of 1.72 and a beta of 1.33.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Wednesday, July 24th. The company reported $9.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.36 by $0.44. Group 1 Automotive had a return on equity of 20.53% and a net margin of 3.03%. The business had revenue of $4.70 billion during the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the previous year, the business posted $11.73 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts expect that Group 1 Automotive, Inc. will post 39.26 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.49%. Group 1 Automotive’s payout ratio is 4.44%.

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.