SG Americas Securities LLC Buys 346 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

SG Americas Securities LLC grew its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 87.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 741 shares of the company’s stock after buying an additional 346 shares during the quarter. SG Americas Securities LLC’s holdings in Group 1 Automotive were worth $284,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GPI. Wellington Management Group LLP acquired a new position in shares of Group 1 Automotive in the fourth quarter worth approximately $21,296,000. Park Avenue Securities LLC lifted its position in shares of Group 1 Automotive by 52.3% in the 1st quarter. Park Avenue Securities LLC now owns 2,165 shares of the company’s stock worth $633,000 after purchasing an additional 743 shares during the period. Hennessy Advisors Inc. boosted its stake in shares of Group 1 Automotive by 14.0% in the 1st quarter. Hennessy Advisors Inc. now owns 91,900 shares of the company’s stock valued at $26,856,000 after purchasing an additional 11,300 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Group 1 Automotive by 5.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,808 shares of the company’s stock worth $528,000 after buying an additional 96 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new position in Group 1 Automotive during the first quarter worth $247,000. Institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Trading Down 0.9 %

NYSE:GPI opened at $361.92 on Monday. The company has a current ratio of 1.02, a quick ratio of 0.26 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 1.78 and a beta of 1.32. The firm has a fifty day simple moving average of $364.59 and a two-hundred day simple moving average of $325.09. Group 1 Automotive, Inc. has a 12 month low of $228.84 and a 12 month high of $393.93.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $9.80 EPS for the quarter, topping analysts’ consensus estimates of $9.36 by $0.44. The business had revenue of $4.70 billion during the quarter, compared to analysts’ expectations of $4.68 billion. Group 1 Automotive had a net margin of 3.03% and a return on equity of 20.53%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $11.73 earnings per share. Analysts expect that Group 1 Automotive, Inc. will post 39.39 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Friday, August 30th. Group 1 Automotive’s dividend payout ratio is currently 4.44%.

Insider Activity

In other news, VP Michael David Jones sold 1,200 shares of Group 1 Automotive stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $350.99, for a total transaction of $421,188.00. Following the completion of the transaction, the vice president now directly owns 9,742 shares in the company, valued at $3,419,344.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. Stephens assumed coverage on shares of Group 1 Automotive in a research note on Thursday, September 12th. They set an “equal weight” rating and a $394.00 target price for the company. Bank of America lowered their target price on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on shares of Group 1 Automotive from $360.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $285.00 to $430.00 in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $396.80.

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.