Algert Global LLC Has $5.14 Million Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Algert Global LLC lowered its position in Group 1 Automotive, Inc. (NYSE:GPI) by 69.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,424 shares of the company’s stock after selling 30,343 shares during the quarter. Algert Global LLC owned approximately 0.10% of Group 1 Automotive worth $5,142,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Group 1 Automotive by 22.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock valued at $190,004,000 after purchasing an additional 115,143 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Group 1 Automotive by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 152,923 shares of the company’s stock valued at $58,576,000 after buying an additional 1,735 shares during the period. Woodson Capital Management LP lifted its position in shares of Group 1 Automotive by 114.6% in the first quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock valued at $41,643,000 after buying an additional 76,102 shares during the last quarter. Hennessy Advisors Inc. boosted its stake in shares of Group 1 Automotive by 18.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 108,500 shares of the company’s stock worth $32,255,000 after acquiring an additional 16,600 shares during the period. Finally, Shellback Capital LP increased its holdings in shares of Group 1 Automotive by 27.1% during the 2nd quarter. Shellback Capital LP now owns 95,302 shares of the company’s stock worth $28,331,000 after acquiring an additional 20,302 shares during the last quarter. Institutional investors and hedge funds own 99.92% of the company’s stock.

Insider Transactions at Group 1 Automotive

In other news, VP Edward Mckissic sold 79 shares of the business’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 directly owns 6,259 shares in the company, valued at approximately $2,340,928.59. The trade was a 1.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Stephens initiated coverage on 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. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $285.00 to $430.00 in a research note 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. Guggenheim raised their price objective on shares of Group 1 Automotive from $420.00 to $442.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $425.20.

Group 1 Automotive Price Performance

Shares of Group 1 Automotive stock opened at $421.14 on Monday. The company has a quick ratio of 0.24, a current ratio of 1.00 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 11.22 and a beta of 1.33. Group 1 Automotive, Inc. has a twelve month low of $255.73 and a twelve month high of $422.92. The company has a 50-day simple moving average of $377.50 and a two-hundred day simple moving average of $342.90.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, beating analysts’ consensus estimates of $9.87 by $0.03. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $12.07 earnings per share. Analysts forecast that Group 1 Automotive, Inc. will post 38.37 EPS for the current year.

Group 1 Automotive declared that its Board of Directors has approved a stock repurchase plan on Tuesday, November 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 9.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Group 1 Automotive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.45%. Group 1 Automotive’s payout ratio is 5.01%.

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.