Victory Capital Management Inc. reduces its position in Group 1 Automotive, Inc. (NYSE:GPI)


Victory Capital Management Inc. reduced its stake in shares of Group 1 Automotive, Inc. (New York Stock Exchange: GPIGet a rating) by 6.5% during the 1st quarter, according to its last Form 13F filing with the SEC. The institutional investor held 71,696 shares of the company after selling 5,018 shares during the period. Victory Capital Management Inc. owned approximately 0.43% of Group 1 Automotive worth $12,472,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also been buying and selling shares of the company recently. EverSource Wealth Advisors LLC purchased a new position in Group 1 Automotive during the fourth quarter at a value of $27,000. First Quadrant LLC CA purchased a new stake in Group 1 Automotive during the first quarter, valued at approximately $33,000. UMB Bank NA MO acquired a new stake in Group 1 Automotive during the fourth quarter, valued at approximately $46,000. National Bank of Canada FI acquired a new stake in Group 1 Automotive during the fourth quarter valued at approximately $67,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Group 1 Automotive during the fourth quarter valued at approximately $135,000. 99.57% of the shares are currently held by hedge funds and other institutional investors.

Insider activity

In other news, Vice Chairman Michael David Jones sold 1,000 shares of the company in a trade that took place on Wednesday, June 8. The stock was sold at an average price of $181.49, for a total value of $181,490.00. Following the completion of the sale, the vice president now directly owns 12,972 shares of the company, valued at approximately $2,354,288.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via the SEC website. In other news, Vice Chairman Michael David Jones sold 1,000 shares of the company in a trade that took place on Wednesday, June 8. The stock was sold at an average price of $181.49, for a total value of $181,490.00. Following the completion of the sale, the vice president now directly owns 12,972 shares of the company, valued at approximately $2,354,288.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via the SEC website. Also, please Franck Grese sold 910 shares of the company in a trade that took place on Friday, May 13. The stock was sold at an average price of $185.86, for a total value of $169,132.60. Following the sale, the senior vice president now directly owns 21,714 shares of the company, valued at $4,035,764.04. Disclosure of this sale can be found here. Company insiders own 3.80% of the company’s shares.

Group 1 Automobile Trading up 1.8%

Shares of GPI Action opened at $179.54 on Friday. Group 1 Automotive, Inc. has a 12-month low of $145.72 and a 12-month high of $212.23. The company has a current ratio of 1.00, a quick ratio of 0.34 and a debt ratio of 0.92. The stock’s 50-day moving average price is $173.93 and its 200-day moving average price is $175.85. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 4.73, a growth price-to-earnings ratio of 0.29 and a beta of 1.43.

Group 1 Automotive (New York Stock Exchange: GPIGet a rating) last reported results on Wednesday, July 27. The company reported earnings per share (EPS) of $12.00 for the quarter, beating the consensus estimate of $10.56 by $1.44. The 1 Automotive group posted a return on equity of 37.65% and a net margin of 4.35%. The company posted revenue of $4.10 billion for the quarter, versus $4.02 billion expected by analysts. In the same period a year earlier, the company posted earnings per share of $10.31. The company’s revenues increased by 10.8% compared to the same quarter last year. Equity research analysts expect Group 1 Automotive, Inc. to post EPS of 43.58 for the current fiscal year.

Group 1 Automotive increases its dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15. Shareholders of record on Wednesday, June 1 received a dividend of $0.37. This represents an annualized dividend of $1.48 and a dividend yield of 0.82%. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.36. The ex-dividend date was Tuesday, May 31. The dividend payout ratio (DPR) of Groupe 1 Automotive is currently 3.90%.

Analyst upgrades and downgrades

A number of equity research analysts have commented on the company. Morgan Stanley cut its price target on Group 1 Automotive from $160.00 to $142.00 and set an “underweight” rating on the stock in a Thursday, July 14 report. StockNews.com moved Group 1 Automotive from a “strong buy” rating to a “buy” rating in a Saturday, July 30, report. Finally, JPMorgan Chase & Co. raised its price target on Group 1 Automotive from $200.00 to $210.00 and gave the stock a “neutral” rating in a Monday, Aug. 1 report.

Group 1 Automotive Company Profile

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Group 1 Automotive, Inc, through its subsidiaries, operates in the motor vehicle retail business. The company sells new and used cars, light trucks and vehicle parts, as well as service and insurance contracts; organizes the financing of related vehicles; and provides automotive maintenance and repair services. It primarily operates in 17 states of the United States; and 35 UK cities.

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Institutional ownership by quarter for Group 1 Automotive (NYSE: GPI)



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