Mackay Shields LLC trimmed its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,400 shares of the company’s stock after selling 4,600 shares during the period. Mackay Shields LLC owned about 0.26% of Group 1 Automotive worth $4,375,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Krane Funds Advisors LLC acquired a new stake in Group 1 Automotive in the second quarter valued at approximately $62,000. Point72 Hong Kong Ltd acquired a new stake in Group 1 Automotive in the second quarter valued at approximately $78,000. Bessemer Group Inc. acquired a new stake in Group 1 Automotive in the second quarter valued at approximately $120,000. Foster & Motley Inc. acquired a new stake in Group 1 Automotive in the third quarter valued at approximately $207,000. Finally, Quantamental Technologies LLC grew its holdings in Group 1 Automotive by 313.6% in the second quarter. Quantamental Technologies LLC now owns 2,374 shares of the company’s stock valued at $194,000 after purchasing an additional 1,800 shares during the period.
In other news, SVP Frank Grese sold 2,940 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $102.70, for a total value of $301,938.00. Following the transaction, the senior vice president now owns 32,472 shares in the company, valued at $3,334,874.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John C. Rickel sold 12,740 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $104.29, for a total value of $1,328,654.60. Following the completion of the transaction, the chief financial officer now owns 115,472 shares in the company, valued at approximately $12,042,574.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,258 shares of company stock worth $7,750,084. Company insiders own 6.00% of the company’s stock.
Several brokerages have commented on GPI. Morgan Stanley raised their price objective on Group 1 Automotive from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. ValuEngine lowered Group 1 Automotive from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Stephens set a $110.00 price objective on Group 1 Automotive and gave the company a “buy” rating in a report on Friday, October 25th. Zacks Investment Research raised Group 1 Automotive from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Monday, October 28th. Finally, Buckingham Research set a $102.00 price objective on Group 1 Automotive and gave the company a “hold” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $101.50.
Shares of NYSE GPI traded down $0.72 during midday trading on Friday, hitting $98.60. The stock had a trading volume of 97,966 shares, compared to its average volume of 172,774. The company has a market capitalization of $1.87 billion, a PE ratio of 11.07, a P/E/G ratio of 1.62 and a beta of 1.77. The stock has a 50 day simple moving average of $92.86 and a 200-day simple moving average of $82.53. Group 1 Automotive, Inc. has a 1 year low of $48.69 and a 1 year high of $108.99. The company has a quick ratio of 0.25, a current ratio of 1.00 and a debt-to-equity ratio of 1.27.
Group 1 Automotive (NYSE:GPI) last released its earnings results on Thursday, October 24th. The company reported $3.02 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.30. The business had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $2.95 billion. Group 1 Automotive had a return on equity of 16.48% and a net margin of 1.31%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.47 earnings per share. As a group, analysts expect that Group 1 Automotive, Inc. will post 10.52 earnings per share for the current fiscal year.
Group 1 Automotive Profile
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. The company sells new and used cars, light trucks, and vehicle parts, as well as service insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It has operations primarily in the metropolitan areas in Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 32 towns in the United Kingdom; and metropolitan markets in the states of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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