FORA Capital LLC Sells 2,214 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

FORA Capital LLC reduced its stake in Group 1 Automotive, Inc. (NYSE:GPI) by 63.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,261 shares of the company’s stock after selling 2,214 shares during the quarter. FORA Capital LLC’s holdings in Group 1 Automotive were worth $483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Glenmede Trust Co. NA boosted its position in shares of Group 1 Automotive by 33.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 1,059 shares of the company’s stock worth $406,000 after purchasing an additional 264 shares in the last quarter. Cynosure Group LLC bought a new stake in shares of Group 1 Automotive in the 3rd quarter worth approximately $367,000. Advantage Alpha Capital Partners LP bought a new position in Group 1 Automotive in the 3rd quarter valued at approximately $1,011,000. FMR LLC lifted its position in Group 1 Automotive by 133.0% in the 3rd quarter. FMR LLC now owns 407,930 shares of the company’s stock valued at $156,253,000 after acquiring an additional 232,846 shares in the last quarter. Finally, Patton Albertson Miller Group LLC bought a new position in Group 1 Automotive in the 3rd quarter valued at approximately $215,000. 99.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Group 1 Automotive Price Performance

Shares of GPI opened at $427.76 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91. The firm has a market cap of $5.70 billion, a PE ratio of 11.40 and a beta of 1.33. Group 1 Automotive, Inc. has a 1-year low of $255.73 and a 1-year high of $440.32. The firm has a fifty day simple moving average of $380.89 and a two-hundred day simple moving average of $345.33.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, topping the consensus estimate of $9.87 by $0.03. The firm had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.06 billion. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. Group 1 Automotive’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $12.07 EPS. On average, equities analysts anticipate that Group 1 Automotive, Inc. will post 38.38 EPS for the current year.

Group 1 Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.88 annualized dividend and a dividend yield of 0.44%. Group 1 Automotive’s dividend payout ratio (DPR) is 5.01%.

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

Insider Transactions at Group 1 Automotive

In other Group 1 Automotive news, VP Edward Mckissic sold 79 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following the sale, the vice president now directly owns 6,259 shares of the company’s stock, valued at $2,340,928.59. This trade represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by company insiders.

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.