December 3, 2023

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Eminence Capital LP Cuts Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Eminence Capital LP Cuts Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Eminence Capital LP cut its position in Group 1 Automotive, Inc. (NYSE:GPI – Get Rating) by 5.2{7b5a5d0e414f5ae9befbbfe0565391237b22ed5a572478ce6579290fab1e7f91} during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 281,009 shares of the company’s stock after selling 15,396 shares during the period. Eminence Capital LP owned 1.93{7b5a5d0e414f5ae9befbbfe0565391237b22ed5a572478ce6579290fab1e7f91} of Group 1 Automotive worth $40,148,000 as of its most recent filing with the Securities and Exchange Commission.

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Other large investors also recently modified their holdings of the company. M&T Bank Corp increased its position in shares of Group 1 Automotive by 11.3{7b5a5d0e414f5ae9befbbfe0565391237b22ed5a572478ce6579290fab1e7f91} in the 2nd quarter. M&T Bank Corp now owns 1,786 shares of the company’s stock valued at $303,000 after purchasing an additional 182 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Group 1 Automotive in the 2nd quarter valued at $315,000. Burns J W & Co. Inc. NY acquired a new stake in Group 1 Automotive during the 3rd quarter worth $271,000. WINTON GROUP Ltd purchased a new stake in Group 1 Automotive in the third quarter valued at $497,000. Finally, Clearbridge Investments LLC boosted its stake in Group 1 Automotive by 28.9{7b5a5d0e414f5ae9befbbfe0565391237b22ed5a572478ce6579290fab1e7f91} in the second quarter. Clearbridge Investments LLC now owns 95,605 shares of the company’s stock valued at $16,234,000 after acquiring an additional 21,409 shares in the last quarter. 97.71{7b5a5d0e414f5ae9befbbfe0565391237b22ed5a572478ce6579290fab1e7f91} of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Darryl M. Burman sold 2,500 shares of the firm’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $236.68, for a total transaction of $591,700.00. Following the transaction, the vice president now owns 17,259 shares of the company’s stock, valued at $4,084,860.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Lincoln Pereira sold 27,100 shares of the firm’s stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $208.19, for a total value of $5,641,949.00. Following the completion of the sale, the director now owns 117,367 shares in the company, valued at $24,434,635.73. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Darryl M. Burman sold 2,500 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $236.68, for a total transaction of $591,700.00. Following the completion of the sale, the vice president now owns 17,259 shares of the company’s stock, valued at approximately $4,084,860.12. The disclosure for this sale can be found here. Insiders have sold a total of 32,100 shares of company stock valued at $6,747,399 over the last quarter. 3.80{7b5a5d0e414f5ae9befbbfe0565391237b22ed5a572478ce6579290fab1e7f91} of the stock is currently owned by insiders.

Group 1 Automotive Stock Performance

Shares of NYSE GPI traded up $2.16 during midday trading on Thursday, reaching $230.82. 48,671 shares of the company were exchanged, compared to its average volume of 185,494. The company has a current ratio of 1.03, a quick ratio of 0.33 and a debt-to-equity ratio of 0.87. Group 1 Automotive, Inc. has a 1 year low of $136.16 and a 1 year high of $242.68. The stock has a fifty day simple moving average of $205.26 and a 200 day simple moving average of $184.86. The stock has a market cap of $3.28 billion, a P/E ratio of 4.91, a PEG ratio of 1.97 and a beta of 1.48.

Group 1 Automotive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, February 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.78{7b5a5d0e414f5ae9befbbfe0565391237b22ed5a572478ce6579290fab1e7f91}. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.39. Group 1 Automotive’s dividend payout ratio (DPR) is currently 3.83{7b5a5d0e414f5ae9befbbfe0565391237b22ed5a572478ce6579290fab1e7f91}.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GPI. Morgan Stanley dropped their price objective on Group 1 Automotive from $142.00 to $134.00 and set an “underweight” rating on the stock in a report on Tuesday, January 17th. Stephens raised their price objective on Group 1 Automotive from $275.00 to $290.00 in a report on Thursday, January 26th. StockNews.com raised Group 1 Automotive from a “hold” rating to a “buy” rating in a report on Friday, February 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Group 1 Automotive from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, February 21st.

Group 1 Automotive Company Profile

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Group 1 Automotive, Inc engages in the automotive retailing industry. The firm operates through the following geographical segments: U.S, the UK, and Brazil. It also sells new and used cars and light trucks, arranges related vehicle financing, sells service contracts, provides automotive maintenance and repair services, and sells vehicle parts.

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Institutional Ownership by Quarter for Group 1 Automotive (NYSE:GPI)

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