Assetmark Inc. Buys 28 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Assetmark Inc. grew its stake in shares of Group 1 Automotive, Inc. (NYSE:GPIFree Report) by 51.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82 shares of the company’s stock after buying an additional 28 shares during the period. Assetmark Inc.’s holdings in Group 1 Automotive were worth $31,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arizona State Retirement System lifted its stake in Group 1 Automotive by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 3,832 shares of the company’s stock worth $1,139,000 after purchasing an additional 33 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Group 1 Automotive by 17.1% during the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the company’s stock valued at $79,000 after buying an additional 39 shares during the period. SummerHaven Investment Management LLC grew its position in Group 1 Automotive by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 2,854 shares of the company’s stock worth $848,000 after buying an additional 49 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in Group 1 Automotive by 53.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock worth $43,000 after acquiring an additional 51 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of Group 1 Automotive by 2.9% in the 3rd quarter. US Bancorp DE now owns 1,996 shares of the company’s stock valued at $765,000 after acquiring an additional 57 shares in the last quarter. 99.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Stephens assumed 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 objective for the company. Finally, StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Two research 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, Group 1 Automotive has an average rating of “Moderate Buy” and an average price target of $397.80.

Check Out Our Latest Analysis on Group 1 Automotive

Insider Buying and Selling at Group 1 Automotive

In other Group 1 Automotive news, VP Edward Mckissic sold 79 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total value of $29,546.79. Following the completion of the sale, the vice president now owns 6,259 shares in the company, valued at approximately $2,340,928.59. This trade represents a 1.25 % decrease in their position. The transaction was disclosed in a filing 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 Price Performance

Shares of NYSE:GPI opened at $401.26 on Wednesday. The company’s fifty day moving average is $373.87 and its 200 day moving average is $340.54. The company has a quick ratio of 0.24, a current ratio of 1.00 and a debt-to-equity ratio of 0.91. Group 1 Automotive, Inc. has a 52 week low of $255.73 and a 52 week high of $422.28. The stock has a market cap of $5.34 billion, a PE ratio of 10.69 and a beta of 1.33.

Group 1 Automotive (NYSE:GPIGet Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the company earned $12.07 EPS. Group 1 Automotive’s revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts anticipate that Group 1 Automotive, Inc. will post 38.52 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.47%. Group 1 Automotive’s dividend payout ratio is currently 5.01%.

Group 1 Automotive announced that its Board of Directors has approved a share repurchase program on Tuesday, November 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 9.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Group 1 Automotive Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Group 1 Automotive (NYSE:GPI)

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