Metis Global Partners LLC Lowers Position in Group 1 Automotive, Inc. (NYSE:GPI)

Metis Global Partners LLC trimmed its position in Group 1 Automotive, Inc. (NYSE:GPI) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,309 shares of the company’s stock after selling 126 shares during the period. Metis Global Partners LLC’s holdings in Group 1 Automotive were worth $501,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in shares of Group 1 Automotive by 22.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock worth $190,004,000 after buying an additional 115,143 shares during the period. Woodson Capital Management LP grew its holdings in Group 1 Automotive by 114.6% in the first quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock worth $41,643,000 after purchasing an additional 76,102 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Group 1 Automotive by 57.4% during the third quarter. Assenagon Asset Management S.A. now owns 63,236 shares of the company’s stock valued at $24,222,000 after purchasing an additional 23,051 shares in the last quarter. Shellback Capital LP lifted its holdings in shares of Group 1 Automotive by 27.1% during the second quarter. Shellback Capital LP now owns 95,302 shares of the company’s stock valued at $28,331,000 after purchasing an additional 20,302 shares during the last quarter. Finally, Hennessy Advisors Inc. boosted its position in shares of Group 1 Automotive by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 108,500 shares of the company’s stock worth $32,255,000 after purchasing an additional 16,600 shares in the last quarter. 99.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GPI has been the subject of a number of analyst reports. Stephens started coverage on Group 1 Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $285.00 to $430.00 in a research report on Wednesday, September 25th. StockNews.com raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Bank of America cut their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $397.80.

Insiders Place Their Bets

In other news, VP Edward Mckissic sold 79 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the transaction, the vice president now owns 6,259 shares in the company, valued at $2,340,928.59. This represents a 1.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company’s stock.

Group 1 Automotive Stock Performance

Shares of NYSE GPI opened at $402.11 on Tuesday. The company has a quick ratio of 0.24, a current ratio of 1.00 and a debt-to-equity ratio of 0.91. The firm’s 50-day moving average price is $371.84 and its 200-day moving average price is $339.02. Group 1 Automotive, Inc. has a 52-week low of $255.73 and a 52-week high of $422.28. The company has a market cap of $5.36 billion, a PE ratio of 10.71, a PEG ratio of 2.13 and a beta of 1.33.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, topping analysts’ consensus estimates of $9.87 by $0.03. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $12.07 EPS. As a group, analysts anticipate that Group 1 Automotive, Inc. will post 38.52 EPS for the current year.

Group 1 Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. Group 1 Automotive’s dividend payout ratio is 5.01%.

Group 1 Automotive declared that its board has authorized a stock buyback program on Tuesday, November 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 9.3% of its stock through open market purchases. Stock repurchase programs are usually 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 in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.