Millennium Management LLC decreased its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 28.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,076 shares of the company’s stock after selling 41,150 shares during the period. Millennium Management LLC owned about 0.53% of Group 1 Automotive worth $6,683,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC grew its position in shares of Group 1 Automotive by 2,902.7% during the second quarter. Cubist Systematic Strategies LLC now owns 22,580 shares of the company’s stock worth $1,423,000 after acquiring an additional 21,828 shares during the last quarter. James Investment Research Inc. grew its position in shares of Group 1 Automotive by 7.0% during the second quarter. James Investment Research Inc. now owns 42,790 shares of the company’s stock worth $2,696,000 after acquiring an additional 2,795 shares during the last quarter. Smith Graham & Co. Investment Advisors LP grew its position in shares of Group 1 Automotive by 10.0% during the second quarter. Smith Graham & Co. Investment Advisors LP now owns 137,638 shares of the company’s stock worth $8,671,000 after acquiring an additional 12,480 shares during the last quarter. Martingale Asset Management L P bought a new position in shares of Group 1 Automotive during the second quarter worth about $246,000. Finally, Meadow Creek Investment Management LLC grew its position in shares of Group 1 Automotive by 74.4% during the second quarter. Meadow Creek Investment Management LLC now owns 3,300 shares of the company’s stock worth $208,000 after acquiring an additional 1,408 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.
Several equities analysts have recently commented on GPI shares. ValuEngine upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Monday, July 30th. Stephens upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Monday, August 6th. Zacks Investment Research upgraded shares of Group 1 Automotive from a “hold” rating to a “strong-buy” rating and set a $85.00 price target for the company in a research report on Tuesday, September 11th. Finally, Morgan Stanley upped their price target on shares of Group 1 Automotive from $59.00 to $64.00 and gave the stock a “sell” rating in a research report on Wednesday, August 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $84.33.
Group 1 Automotive (NYSE:GPI) last announced its earnings results on Thursday, July 26th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.14 by $0.31. The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.92 billion. Group 1 Automotive had a net margin of 1.97% and a return on equity of 15.73%. Group 1 Automotive’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.87 EPS. Equities research analysts expect that Group 1 Automotive, Inc. will post 8.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Tuesday, September 4th were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $1.04 dividend on an annualized basis and a yield of 1.89%. Group 1 Automotive’s dividend payout ratio is presently 13.45%.
In related news, Director Lincoln Pereira sold 25,000 shares of the stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $79.45, for a total value of $1,986,250.00. Following the completion of the transaction, the director now owns 67,425 shares in the company, valued at approximately $5,356,916.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frank Grese sold 5,000 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $76.98, for a total transaction of $384,900.00. The disclosure for this sale can be found here. Insiders sold a total of 38,200 shares of company stock valued at $3,012,805 in the last quarter. 4.95% of the stock is currently owned by insiders.
Group 1 Automotive 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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