Group 1 Automotive, Inc. (NYSE:GPI) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 57.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,711 shares of the company’s stock after selling 7,829 shares during the period. Bank of Montreal Can’s holdings in Group 1 Automotive were worth $2,204,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Cetera Advisors LLC increased its position in shares of Group 1 Automotive by 73.5% during the first quarter. Cetera Advisors LLC now owns 1,492 shares of the company’s stock worth $436,000 after acquiring an additional 632 shares during the period. Hexagon Capital Partners LLC raised its position in Group 1 Automotive by 53.7% in the 2nd 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. Dynamic Advisor Solutions LLC purchased a new position in shares of Group 1 Automotive in the 2nd quarter valued at about $452,000. Blue Trust Inc. grew its position in shares of Group 1 Automotive by 47.5% during the second quarter. Blue Trust Inc. now owns 270 shares of the company’s stock worth $79,000 after buying an additional 87 shares in the last quarter. Finally, Raymond James & Associates increased its stake in shares of Group 1 Automotive by 8.3% during the second quarter. Raymond James & Associates now owns 40,541 shares of the company’s stock worth $12,052,000 after buying an additional 3,095 shares during the period. 99.92% of the stock is owned by hedge funds and other institutional investors.

Group 1 Automotive Trading Down 1.4 %

NYSE:GPI opened at $429.00 on Friday. Group 1 Automotive, Inc. has a 1 year low of $255.73 and a 1 year high of $440.32. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00. The stock has a fifty day moving average price of $386.42 and a two-hundred day moving average price of $349.80. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 11.43 and a beta of 1.35.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, beating the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter last year, the business earned $12.07 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Group 1 Automotive, Inc. will post 38.37 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, December 2nd. This represents a $1.88 annualized dividend and a yield of 0.44%. Group 1 Automotive’s dividend payout ratio is presently 5.01%.

Group 1 Automotive announced that its board has approved a stock buyback program on Tuesday, November 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 9.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on GPI. Stephens initiated coverage on shares of Group 1 Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley upgraded 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 report on Wednesday, September 25th. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Guggenheim boosted their target price on Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $425.20.

Insider Buying and Selling at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of Group 1 Automotive stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following the completion of the transaction, the vice president now directly owns 6,259 shares in the company, valued at $2,340,928.59. The trade was a 1.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Group 1 Automotive Company 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.