Coronation Fund Managers Ltd. Has $2.98 Million Stake in Group 1 Automotive, Inc. (NYSE:GPI)

Coronation Fund Managers Ltd. lessened its position in Group 1 Automotive, Inc. (NYSE:GPI) by 9.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,197 shares of the company’s stock after selling 1,054 shares during the period. Coronation Fund Managers Ltd. owned 0.08% of Group 1 Automotive worth $2,980,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in Group 1 Automotive during the 1st quarter worth approximately $475,000. BNP Paribas Financial Markets grew its stake in shares of Group 1 Automotive by 15.2% in the first quarter. BNP Paribas Financial Markets now owns 22,236 shares of the company’s stock worth $6,498,000 after purchasing an additional 2,927 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in Group 1 Automotive by 46.2% in the first quarter. Benjamin Edwards Inc. now owns 1,158 shares of the company’s stock valued at $339,000 after purchasing an additional 366 shares during the period. Raymond James & Associates raised its position in Group 1 Automotive by 33.5% during the 1st quarter. Raymond James & Associates now owns 37,446 shares of the company’s stock worth $10,943,000 after purchasing an additional 9,394 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Group 1 Automotive in the 1st quarter valued at about $247,000. 99.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on GPI. Guggenheim raised Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price objective on the stock in a research note on Wednesday, April 17th. JPMorgan Chase & Co. decreased their price objective on shares of Group 1 Automotive from $315.00 to $310.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Group 1 Automotive presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.00.

Group 1 Automotive Stock Up 0.1 %

Shares of Group 1 Automotive stock traded up $0.28 during trading on Wednesday, reaching $281.20. 110,925 shares of the company traded hands, compared to its average volume of 134,185. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.04 and a quick ratio of 0.27. The firm has a market capitalization of $3.80 billion, a PE ratio of 6.64, a P/E/G ratio of 1.48 and a beta of 1.35. The company has a 50 day moving average price of $303.15 and a 200-day moving average price of $286.19. Group 1 Automotive, Inc. has a 1-year low of $228.84 and a 1-year high of $323.95.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Wednesday, April 24th. The company reported $9.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.52 by ($0.03). Group 1 Automotive had a return on equity of 22.45% and a net margin of 3.23%. The company had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.30 billion. As a group, equities research analysts expect that Group 1 Automotive, Inc. will post 38.86 earnings per share for the current fiscal year.

Group 1 Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.67%. The ex-dividend date was Monday, June 3rd. Group 1 Automotive’s payout ratio is currently 4.44%.

Insiders Place Their Bets

In other news, VP Michael David Jones sold 1,400 shares of Group 1 Automotive stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $294.63, for a total transaction of $412,482.00. Following the completion of the transaction, the vice president now directly owns 11,535 shares in the company, valued at $3,398,557.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Michael David Jones sold 1,400 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $294.63, for a total transaction of $412,482.00. Following the completion of the sale, the vice president now owns 11,535 shares in the company, valued at $3,398,557.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniel James Mchenry sold 2,437 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $309.61, for a total value of $754,519.57. Following the transaction, the chief financial officer now owns 22,430 shares in the company, valued at $6,944,552.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,007 shares of company stock worth $1,221,218. Insiders own 1.70% of the company’s stock.

Group 1 Automotive Profile

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.