Nationwide Fund Advisors reduced its position in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,184 shares of the company’s stock after selling 992 shares during the period. Nationwide Fund Advisors owned about 0.10% of Group 1 Automotive worth $1,535,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Group 1 Automotive by 17.8% during the second quarter. Victory Capital Management Inc. now owns 1,797 shares of the company’s stock valued at $114,000 after purchasing an additional 271 shares during the last quarter. Riverhead Capital Management LLC boosted its position in Group 1 Automotive by 93.2% during the second quarter. Riverhead Capital Management LLC now owns 1,932 shares of the company’s stock valued at $122,000 after purchasing an additional 932 shares during the last quarter. SG Americas Securities LLC acquired a new position in Group 1 Automotive during the second quarter valued at approximately $177,000. Quantitative Systematic Strategies LLC acquired a new position in Group 1 Automotive during the third quarter valued at approximately $215,000. Finally, Eqis Capital Management Inc. acquired a new position in Group 1 Automotive during the third quarter valued at approximately $232,000. 97.57% of the stock is owned by institutional investors.
In other news, CEO Earl J. Hesterberg sold 10,640 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $74.44, for a total transaction of $792,041.60. Following the transaction, the chief executive officer now owns 165,010 shares in the company, valued at $12,283,344.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John C. Rickel sold 20,000 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $80.00, for a total value of $1,600,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,334 shares of company stock worth $6,522,598. 6.08% of the stock is owned by corporate insiders.
Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Thursday, October 26th. The company reported $2.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.76 by $0.47. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Group 1 Automotive had a return on equity of 15.69% and a net margin of 1.20%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $1.96 earnings per share. sell-side analysts anticipate that Group 1 Automotive, Inc. will post 7.4 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.24. Group 1 Automotive’s dividend payout ratio (DPR) is 15.90%.
Several research analysts recently commented on the company. Buckingham Research cut Group 1 Automotive from a “buy” rating to a “neutral” rating and set a $86.00 price target for the company. in a research report on Monday, November 13th. Wells Fargo & Co raised their price objective on Group 1 Automotive from $65.00 to $85.00 and gave the company a “market perform” rating in a research report on Monday, October 30th. KeyCorp reaffirmed a “hold” rating on shares of Group 1 Automotive in a research report on Wednesday, October 4th. Berenberg Bank started coverage on Group 1 Automotive in a research report on Wednesday, October 4th. They issued a “hold” rating and a $77.00 price objective for the company. Finally, Stephens reaffirmed an “equal weight” rating and issued a $87.00 price objective (up from $83.00) on shares of Group 1 Automotive in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $79.00.
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Group 1 Automotive 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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