Congress Asset Management Co. Decreases Position in Group 1 Automotive, Inc. (NYSE:GPI)

Congress Asset Management Co. reduced its position in Group 1 Automotive, Inc. (NYSE:GPI) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,122 shares of the company’s stock after selling 335 shares during the period. Congress Asset Management Co.’s holdings in Group 1 Automotive were worth $10,772,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GPI. The Manufacturers Life Insurance Company grew its stake in shares of Group 1 Automotive by 22.0% in the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock worth $190,004,000 after acquiring an additional 115,143 shares during the period. Woodson Capital Management LP raised its stake in Group 1 Automotive by 114.6% during the 1st quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock valued at $41,643,000 after buying an additional 76,102 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Group 1 Automotive by 57.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 63,236 shares of the company’s stock valued at $24,222,000 after buying an additional 23,051 shares during the period. Shellback Capital LP boosted its stake in shares of Group 1 Automotive by 27.1% in the 2nd quarter. Shellback Capital LP now owns 95,302 shares of the company’s stock worth $28,331,000 after buying an additional 20,302 shares during the last quarter. Finally, Hennessy Advisors Inc. grew its holdings in shares of Group 1 Automotive by 18.1% in the second quarter. Hennessy Advisors Inc. now owns 108,500 shares of the company’s stock worth $32,255,000 after acquiring an additional 16,600 shares during the period. 99.92% of the stock is currently owned by hedge funds and other institutional investors.

Group 1 Automotive Trading Down 3.5 %

GPI stock opened at $364.50 on Friday. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 1.93 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.02 and a quick ratio of 0.26. Group 1 Automotive, Inc. has a 1-year low of $246.02 and a 1-year high of $393.93. The business has a 50 day simple moving average of $365.22 and a two-hundred day simple moving average of $329.12.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, missing the consensus estimate of $9.93 by ($0.03). The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.83%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $12.07 earnings per share. Research analysts anticipate that Group 1 Automotive, Inc. will post 38.99 EPS for the current fiscal year.

Group 1 Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Friday, August 30th. Group 1 Automotive’s payout ratio is presently 5.01%.

Analyst Ratings Changes

Several brokerages have issued reports on GPI. Stephens started coverage on Group 1 Automotive in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Group 1 Automotive from $360.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Bank of America dropped their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $285.00 to $430.00 in a research report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $396.80.

Insider Transactions at Group 1 Automotive

In other Group 1 Automotive news, VP Michael David Jones sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total transaction of $421,188.00. Following the sale, the vice president now directly owns 9,742 shares of the company’s stock, valued at $3,419,344.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.70% of the company’s stock.

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.