Insider Selling: Group 1 Automotive, Inc. (GPI) SVP Sells 10,000 Shares of Stock
Group 1 Automotive, Inc. (NYSE:GPI) SVP Frank Grese sold 10,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $79.27, for a total transaction of $792,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Thursday, October 26th. The company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.47. Group 1 Automotive had a net margin of 1.20% and a return on equity of 15.69%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the business posted $1.96 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis.
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Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. bought a new stake in Group 1 Automotive during the 1st quarter valued at about $113,000. Riverhead Capital Management LLC lifted its holdings in Group 1 Automotive by 93.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,932 shares of the company’s stock valued at $122,000 after buying an additional 932 shares in the last quarter. SG Americas Securities LLC bought a new stake in Group 1 Automotive during the 2nd quarter valued at about $177,000. Paloma Partners Management Co bought a new stake in Group 1 Automotive during the 1st quarter valued at about $200,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Group 1 Automotive during the 2nd quarter valued at about $211,000. Institutional investors own 97.67% of the company’s stock.
Several research firms have weighed in on GPI. Wells Fargo & Company boosted their price target on shares of Group 1 Automotive from $65.00 to $85.00 and gave the stock a “market perform” rating in a research note on Monday. KeyCorp reaffirmed a “hold” rating on shares of Group 1 Automotive in a research note on Wednesday, October 4th. Berenberg Bank initiated coverage on shares of Group 1 Automotive in a research note on Wednesday, October 4th. They set a “hold” rating and a $77.00 price objective for the company. Stephens reaffirmed an “equal weight” rating and set a $87.00 price objective (up from $83.00) on shares of Group 1 Automotive in a research note on Wednesday, October 4th. Finally, Zacks Investment Research downgraded shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Group 1 Automotive has an average rating of “Hold” and an average target price of $77.60.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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