First Trust Advisors LP lessened its position in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 6.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,009 shares of the company’s stock after selling 2,149 shares during the quarter. First Trust Advisors LP owned approximately 0.14% of Group 1 Automotive worth $2,130,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in shares of Group 1 Automotive by 7.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 10,163 shares of the company’s stock worth $735,000 after buying an additional 717 shares during the last quarter. American International Group Inc. raised its stake in shares of Group 1 Automotive by 5.5% during the 3rd quarter. American International Group Inc. now owns 16,088 shares of the company’s stock worth $1,166,000 after buying an additional 839 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Group 1 Automotive by 0.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 123,249 shares of the company’s stock worth $8,747,000 after buying an additional 916 shares during the last quarter. Parametrica Management Ltd increased its position in Group 1 Automotive by 45.0% during the 4th quarter. Parametrica Management Ltd now owns 5,236 shares of the company’s stock worth $372,000 after purchasing an additional 1,624 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Group 1 Automotive during the 4th quarter worth about $119,000. 97.57% of the stock is owned by institutional investors and hedge funds.
Shares of Group 1 Automotive, Inc. (GPI) opened at $72.98 on Tuesday. The company has a market capitalization of $1,523.41, a PE ratio of 9.41, a P/E/G ratio of 1.12 and a beta of 1.75. Group 1 Automotive, Inc. has a 52-week low of $51.62 and a 52-week high of $84.47. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.26 and a current ratio of 1.06.
Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Group 1 Automotive had a return on equity of 15.85% and a net margin of 1.89%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.74 EPS. analysts expect that Group 1 Automotive, Inc. will post 9.28 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were issued a $0.26 dividend. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.04 annualized dividend and a yield of 1.43%. Group 1 Automotive’s payout ratio is 10.28%.
A number of analysts recently commented on the company. Zacks Investment Research upgraded Group 1 Automotive from a “hold” rating to a “strong-buy” rating and set a $92.00 price objective for the company in a research report on Wednesday, January 31st. Bank of America lifted their price objective on Group 1 Automotive from $103.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Morgan Stanley lifted 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. Finally, Buckingham Research upgraded Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $83.00.
In other Group 1 Automotive news, CEO Earl J. Hesterberg sold 4,000 shares of Group 1 Automotive stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $72.15, for a total value of $288,600.00. Following the completion of the sale, the chief executive officer now owns 139,065 shares in the company, valued at approximately $10,033,539.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Earl J. Hesterberg sold 19,500 shares of Group 1 Automotive stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $74.69, for a total value of $1,456,455.00. Following the completion of the sale, the chief executive officer now owns 156,316 shares of the company’s stock, valued at approximately $11,675,242.04. The disclosure for this sale can be found here. Insiders sold a total of 152,398 shares of company stock valued at $11,763,108 in the last 90 days. 6.08% of the stock is owned by company insiders.
WARNING: This report was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another domain, it was illegally copied and reposted in violation of US & international trademark & copyright legislation. The legal version of this report can be accessed at https://ledgergazette.com/2018/03/20/first-trust-advisors-lp-cuts-stake-in-group-1-automotive-inc-gpi.html.
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.
Want to see what other hedge funds are holding GPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Group 1 Automotive, Inc. (NYSE:GPI).
Receive News & Ratings for Group 1 Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Group 1 Automotive and related companies with MarketBeat.com's FREE daily email newsletter.