BNP Paribas Arbitrage SA decreased its holdings in Group 1 Automotive (NYSE:GPI) by 20.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,000 shares of the company’s stock after selling 1,825 shares during the period. BNP Paribas Arbitrage SA’s holdings in Group 1 Automotive were worth $457,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC bought a new stake in Group 1 Automotive during the 4th quarter worth $119,000. Amalgamated Bank bought a new stake in Group 1 Automotive during the 4th quarter worth $203,000. MANA Advisors LLC bought a new stake in Group 1 Automotive during the 4th quarter worth $213,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Group 1 Automotive during the 4th quarter worth $248,000. Finally, Ellington Management Group LLC bought a new stake in Group 1 Automotive during the 4th quarter worth $284,000.
A number of brokerages recently weighed in on GPI. Guggenheim began coverage on Group 1 Automotive in a research report on Monday, April 16th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded Group 1 Automotive from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research report on Wednesday, June 20th. Morgan Stanley boosted their price objective on Group 1 Automotive from $53.00 to $62.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 14th. Stephens restated a “hold” rating and set a $88.00 price objective on shares of Group 1 Automotive in a research report on Monday, April 16th. Finally, Buckingham Research lowered Group 1 Automotive from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $81.75.
Group 1 Automotive (NYSE:GPI) last announced its earnings results on Thursday, April 26th. The company reported $1.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.16. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.66 billion. Group 1 Automotive had a return on equity of 15.47% and a net margin of 1.86%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.53 EPS. equities research analysts forecast that Group 1 Automotive will post 8.61 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.49%. The ex-dividend date was Thursday, May 31st. Group 1 Automotive’s payout ratio is presently 13.45%.
Group 1 Automotive declared that its Board of Directors has approved a stock buyback program on Wednesday, May 16th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. It sells new and used cars, light trucks, and vehicle parts; arranges vehicle financing; sells service and insurance contracts; and provides automotive maintenance and repair services. The company has operations primarily in the metropolitan areas of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 28 towns in the United Kingdom; and in the metropolitan markets of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
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