Rhumbline Advisers Reduces Stock Position in Group 1 Automotive, Inc. (NYSE:GPI)

Rhumbline Advisers cut its stake in Group 1 Automotive, Inc. (NYSE:GPIFree Report) by 4.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,450 shares of the company’s stock after selling 2,138 shares during the period. Rhumbline Advisers’ holdings in Group 1 Automotive were worth $15,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in GPI. Wilmington Savings Fund Society FSB purchased a new position in Group 1 Automotive in the fourth quarter worth approximately $66,000. Savant Capital LLC grew its position in Group 1 Automotive by 8.2% in the fourth quarter. Savant Capital LLC now owns 622 shares of the company’s stock worth $262,000 after acquiring an additional 47 shares during the period. Blue Trust Inc. grew its position in Group 1 Automotive by 28.4% in the fourth quarter. Blue Trust Inc. now owns 498 shares of the company’s stock worth $210,000 after acquiring an additional 110 shares during the period. Congress Asset Management Co. grew its position in Group 1 Automotive by 14.2% in the fourth quarter. Congress Asset Management Co. now owns 32,108 shares of the company’s stock worth $13,533,000 after acquiring an additional 3,986 shares during the period. Finally, Principal Financial Group Inc. grew its position in Group 1 Automotive by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 67,576 shares of the company’s stock worth $28,482,000 after acquiring an additional 2,000 shares during the period. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GPI shares. Citigroup increased their price objective on Group 1 Automotive from $463.00 to $495.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Guggenheim cut Group 1 Automotive from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 14th. Wall Street Zen upgraded Group 1 Automotive from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. decreased their price target on Group 1 Automotive from $495.00 to $435.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $454.43.

Read Our Latest Stock Analysis on GPI

Group 1 Automotive Stock Up 0.8%

Shares of NYSE GPI opened at $422.90 on Friday. The stock has a market cap of $5.47 billion, a P/E ratio of 11.51 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. Group 1 Automotive, Inc. has a 12-month low of $279.86 and a 12-month high of $490.09. The business’s fifty day simple moving average is $413.11 and its 200-day simple moving average is $426.72.

Group 1 Automotive (NYSE:GPIGet Free Report) last posted its earnings results on Thursday, April 24th. The company reported $10.17 EPS for the quarter, beating the consensus estimate of $9.68 by $0.49. The firm had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.37 billion. Group 1 Automotive had a return on equity of 18.09% and a net margin of 2.47%. Group 1 Automotive’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.49 earnings per share. As a group, equities analysts predict that Group 1 Automotive, Inc. will post 41 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, June 2nd. Group 1 Automotive’s payout ratio is 5.61%.

Insiders Place Their Bets

In related news, VP Michael David Jones sold 1,613 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $405.57, for a total transaction of $654,184.41. Following the transaction, the vice president now owns 8,260 shares in the company, valued at $3,350,008.20. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.10% of the company’s stock.

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

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

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