Forum Financial Management LP Acquires Shares of 597 Group 1 Automotive, Inc. (NYSE:GPI)

by · The Markets Daily

Forum Financial Management LP bought a new position in shares of Group 1 Automotive, Inc. (NYSE:GPI – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 597 shares of the company’s stock, valued at approximately $229,000.

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

Group 1 Automotive Trading Up 2.1 %

Shares of NYSE GPI opened at $375.83 on Wednesday. The firm has a 50 day moving average price of $365.37 and a two-hundred day moving average price of $332.41. The stock has a market cap of $5.04 billion, a P/E ratio of 10.01, a price-to-earnings-growth ratio of 1.85 and a beta of 1.33. Group 1 Automotive, Inc. has a 52-week low of $255.73 and a 52-week high of $393.93. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.26 and a current ratio of 1.02.

Group 1 Automotive (NYSE:GPI – Get Free Report) last posted its quarterly earnings data 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 business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. Group 1 Automotive had a return on equity of 18.83% and a net margin of 2.68%. Group 1 Automotive’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $12.07 earnings per share. As a group, equities analysts forecast that Group 1 Automotive, Inc. will post 38.99 EPS for the current year.

Group 1 Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a dividend of $0.47 per share. The ex-dividend date was Friday, August 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.50%. Group 1 Automotive’s dividend payout ratio (DPR) is 5.01%.

Insider Buying and Selling

In other Group 1 Automotive news, VP Michael David Jones sold 1,200 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $350.99, for a total transaction of $421,188.00. Following the completion of the sale, the vice president now owns 9,742 shares of the company’s stock, valued at approximately $3,419,344.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

GPI has been the topic of a number of recent analyst reports. Stephens initiated coverage on Group 1 Automotive in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 target price on the stock. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $285.00 to $430.00 in a research report on Wednesday, September 25th. Bank of America lowered their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $397.80.

Check Out Our Latest Report on Group 1 Automotive

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.

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