Eventide Asset Management LLC Sells 5,343 Shares of Group 1 Automotive, Inc. $GPI

Eventide Asset Management LLC reduced its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,823 shares of the company’s stock after selling 5,343 shares during the quarter. Eventide Asset Management LLC’s holdings in Group 1 Automotive were worth $25,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC lifted its holdings in shares of Group 1 Automotive by 54.9% during the fourth quarter. Signaturefd LLC now owns 79 shares of the company’s stock valued at $31,000 after purchasing an additional 28 shares in the last quarter. First Horizon Corp lifted its holdings in shares of Group 1 Automotive by 881.8% during the fourth quarter. First Horizon Corp now owns 108 shares of the company’s stock valued at $42,000 after purchasing an additional 97 shares in the last quarter. Torren Management LLC bought a new position in shares of Group 1 Automotive during the fourth quarter valued at $43,000. Assetmark Inc. lifted its holdings in shares of Group 1 Automotive by 40.5% during the fourth quarter. Assetmark Inc. now owns 118 shares of the company’s stock valued at $46,000 after purchasing an additional 34 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Group 1 Automotive during the third quarter valued at $55,000. 99.92% of the stock is owned by institutional investors.

Group 1 Automotive Stock Performance

NYSE:GPI opened at $325.07 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.21 and a debt-to-equity ratio of 1.00. Group 1 Automotive, Inc. has a 12-month low of $292.44 and a 12-month high of $488.39. The stock has a 50-day moving average price of $331.07 and a 200 day moving average price of $354.29. The stock has a market capitalization of $3.87 billion, a P/E ratio of 12.41, a P/E/G ratio of 0.74 and a beta of 0.81.

Group 1 Automotive (NYSE:GPI) last released its earnings results on Thursday, April 30th. The company reported $8.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.82 by ($0.16). Group 1 Automotive had a return on equity of 16.63% and a net margin of 1.46%.The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the prior year, the business posted $10.17 EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities research analysts forecast that Group 1 Automotive, Inc. will post 42.37 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.55 per share. The ex-dividend date is Monday, June 1st. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. Group 1 Automotive’s dividend payout ratio (DPR) is currently 8.40%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America assumed coverage on Group 1 Automotive in a research report on Wednesday, March 4th. They set a “buy” rating for the company. Citigroup upped their price objective on Group 1 Automotive from $420.00 to $462.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Barclays upped their price objective on Group 1 Automotive from $455.00 to $470.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price objective on Group 1 Automotive from $385.00 to $390.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley reduced their price objective on Group 1 Automotive from $460.00 to $400.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $441.25.

Group 1 Automotive Company Profile

Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.

Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.