Crescent Grove Advisors LLC acquired a new stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 340,108 shares of the company’s stock, valued at approximately $21,536,000. Group 1 Automotive makes up about 6.2% of Crescent Grove Advisors LLC’s holdings, making the stock its 2nd largest position. Crescent Grove Advisors LLC owned approximately 1.66% of Group 1 Automotive as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in Group 1 Automotive during the fourth quarter valued at approximately $145,000. Norges Bank acquired a new stake in Group 1 Automotive during the fourth quarter valued at approximately $6,783,000. Bank of Montreal Can raised its stake in Group 1 Automotive by 492.7% in the first quarter. Bank of Montreal Can now owns 31,129 shares of the company’s stock valued at $2,306,000 after buying an additional 25,877 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Group 1 Automotive by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the company’s stock valued at $600,000 after buying an additional 100 shares in the last quarter. Finally, Sanders Morris Harris Inc. acquired a new stake in Group 1 Automotive during the first quarter valued at approximately $1,701,000. 93.52% of the stock is currently owned by institutional investors.
Group 1 Automotive, Inc. (NYSE GPI) opened at 56.50 on Friday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 8.68 and a beta of 1.62. Group 1 Automotive, Inc. has a 12-month low of $55.06 and a 12-month high of $83.18. The firm has a 50-day moving average of $60.75 and a 200-day moving average of $68.25.
Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.99 by $0.12. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Group 1 Automotive had a return on equity of 15.73% and a net margin of 1.26%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.16 EPS. Equities research analysts forecast that Group 1 Automotive, Inc. will post $7.10 earnings per share for the current fiscal year.
Group 1 Automotive announced that its Board of Directors has approved a share buyback program on Friday, May 12th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to purchase up to 5.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
GPI has been the topic of several recent research reports. Zacks Investment Research lowered shares of Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 12th. BidaskClub lowered shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. ValuEngine lowered shares of Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $66.00 price objective (down from $75.00) on shares of Group 1 Automotive in a research report on Monday, July 17th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $68.50.
About Group 1 Automotive
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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