Intech Investment Management LLC Invests $1.37 Million in Group 1 Automotive, Inc. (NYSE:GPI)

Intech Investment Management LLC purchased a new position in Group 1 Automotive, Inc. (NYSE:GPI) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 3,570 shares of the company’s stock, valued at approximately $1,367,000.

A number of other hedge funds have also recently bought and sold shares of GPI. Assetmark Inc. boosted its stake in shares of Group 1 Automotive by 51.9% during the 3rd quarter. Assetmark Inc. now owns 82 shares of the company’s stock valued at $31,000 after buying an additional 28 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Group 1 Automotive during the 3rd quarter worth $36,000. Hexagon Capital Partners LLC increased its position in shares of Group 1 Automotive by 53.7% in the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock worth $43,000 after purchasing an additional 51 shares during the last quarter. Avior Wealth Management LLC acquired a new stake in shares of Group 1 Automotive in the 3rd quarter valued at about $46,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Group 1 Automotive in the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

Insider Activity at Group 1 Automotive

In other news, VP Edward Mckissic sold 79 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total value of $29,546.79. Following the completion of the transaction, the vice president now owns 6,259 shares of the company’s stock, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.70% of the stock is owned by insiders.

Analyst Ratings Changes

GPI has been the subject of several research analyst reports. Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $285.00 to $430.00 in a research note on Wednesday, September 25th. Stephens started coverage on Group 1 Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Guggenheim increased their target price on shares of Group 1 Automotive from $420.00 to $442.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, StockNews.com raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $425.20.

Group 1 Automotive Price Performance

Shares of NYSE GPI opened at $432.45 on Wednesday. Group 1 Automotive, Inc. has a 1-year low of $255.73 and a 1-year high of $440.32. The firm has a market capitalization of $5.76 billion, a PE ratio of 11.52 and a beta of 1.33. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24. The business’s fifty day moving average price is $378.88 and its two-hundred day moving average price is $343.82.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, beating the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the firm posted $12.07 EPS. Group 1 Automotive’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, research analysts expect that Group 1 Automotive, Inc. will post 38.37 EPS for the current year.

Group 1 Automotive declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 9.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Group 1 Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 0.43%. The ex-dividend date of this dividend is Monday, December 2nd. Group 1 Automotive’s dividend payout ratio (DPR) is 5.01%.

About Group 1 Automotive

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.