Point72 Asset Management L.P. Has $595,000 Position in Group 1 Automotive, Inc. (NYSE:GPI)

Point72 Asset Management L.P. cut its position in Group 1 Automotive, Inc. (NYSE:GPI) by 96.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,000 shares of the company’s stock after selling 60,482 shares during the quarter. Point72 Asset Management L.P.’s holdings in Group 1 Automotive were worth $595,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Group 1 Automotive by 48.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,079 shares of the company’s stock valued at $2,105,000 after acquiring an additional 2,308 shares during the period. Creative Planning boosted its holdings in Group 1 Automotive by 55.3% in the 2nd quarter. Creative Planning now owns 2,873 shares of the company’s stock valued at $854,000 after purchasing an additional 1,023 shares during the period. Algert Global LLC grew its position in shares of Group 1 Automotive by 3.1% during the 2nd quarter. Algert Global LLC now owns 43,767 shares of the company’s stock worth $13,011,000 after purchasing an additional 1,313 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of Group 1 Automotive by 327.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 15,459 shares of the company’s stock worth $4,596,000 after purchasing an additional 11,839 shares during the period. Finally, Shellback Capital LP raised its position in shares of Group 1 Automotive by 27.1% in the second quarter. Shellback Capital LP now owns 95,302 shares of the company’s stock valued at $28,331,000 after buying an additional 20,302 shares in the last quarter. 99.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GPI has been the topic of a number of recent research reports. Bank of America lowered their price objective on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. boosted their price target 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. Stephens assumed coverage on shares of Group 1 Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 price objective for the company. StockNews.com lowered shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a report on Friday. Finally, Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $396.80.

Insider Buying and Selling

In other news, VP Michael David Jones sold 1,200 shares of Group 1 Automotive stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $350.99, for a total transaction of $421,188.00. Following the sale, the vice president now directly owns 9,742 shares of the company’s stock, valued at approximately $3,419,344.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Group 1 Automotive Stock Performance

Group 1 Automotive stock opened at $368.87 on Friday. The company has a quick ratio of 0.26, a current ratio of 1.02 and a debt-to-equity ratio of 0.80. The stock has a market cap of $4.99 billion, a PE ratio of 8.71, a P/E/G ratio of 1.94 and a beta of 1.32. Group 1 Automotive, Inc. has a 12-month low of $228.84 and a 12-month high of $393.93. The business’s 50-day moving average price is $361.99 and its two-hundred day moving average price is $319.31.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Wednesday, July 24th. The company reported $9.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.36 by $0.44. Group 1 Automotive had a net margin of 3.03% and a return on equity of 20.53%. 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 prior year, the company earned $11.73 EPS. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, analysts expect that Group 1 Automotive, Inc. will post 39.18 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, August 30th. Group 1 Automotive’s dividend payout ratio (DPR) 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.