Group 1 Automotive, Inc. (NYSE:GPI) Shares Purchased by Atria Investments Inc

Atria Investments Inc raised its position in Group 1 Automotive, Inc. (NYSE:GPI) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,225 shares of the company’s stock after buying an additional 57 shares during the period. Atria Investments Inc’s holdings in Group 1 Automotive were worth $852,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Assetmark Inc. raised its position in shares of Group 1 Automotive by 51.9% in the third quarter. Assetmark Inc. now owns 82 shares of the company’s stock valued at $31,000 after buying an additional 28 shares during the last quarter. Financial Strategies Group Inc. purchased a new position in Group 1 Automotive in the 3rd quarter worth approximately $458,000. Olympiad Research LP acquired a new position in shares of Group 1 Automotive during the 3rd quarter worth approximately $329,000. Innealta Capital LLC grew its position in shares of Group 1 Automotive by 12.2% in the third quarter. Innealta Capital LLC now owns 633 shares of the company’s stock valued at $242,000 after purchasing an additional 69 shares in the last quarter. Finally, Forum Financial Management LP acquired a new stake in shares of Group 1 Automotive in the third quarter valued at approximately $229,000. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

Group 1 Automotive Price Performance

Shares of GPI opened at $402.11 on Tuesday. The firm has a 50-day simple moving average of $371.84 and a two-hundred day simple moving average of $339.02. The stock has a market cap of $5.36 billion, a PE ratio of 10.71, a P/E/G ratio of 2.13 and a beta of 1.33. Group 1 Automotive, Inc. has a 1-year low of $255.73 and a 1-year high of $422.28. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the previous year, the company earned $12.07 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, analysts forecast that Group 1 Automotive, Inc. will post 38.52 EPS for the current year.

Group 1 Automotive announced that its board has initiated a share buyback program on Tuesday, November 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 9.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Group 1 Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 2nd. Group 1 Automotive’s dividend payout ratio (DPR) is 5.01%.

Insider Buying and Selling at Group 1 Automotive

In other news, VP Edward Mckissic sold 79 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the completion of the transaction, the vice president now owns 6,259 shares of the company’s stock, valued at approximately $2,340,928.59. This trade represents a 1.25 % decrease in their ownership of the stock. The transaction 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.

Analyst Ratings Changes

GPI has been the subject of several analyst reports. Stephens started coverage on Group 1 Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 target price for the company. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $285.00 to $430.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their target price on shares of Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Bank of America dropped their price target 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. Finally, StockNews.com raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Group 1 Automotive currently has a consensus rating of “Moderate Buy” and a consensus target price of $397.80.

Group 1 Automotive Profile

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.