Bailard Inc. Reduces Stock Position in Group 1 Automotive, Inc. (NYSE:GPI)

Bailard Inc. trimmed its position in Group 1 Automotive, Inc. (NYSE:GPI) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,300 shares of the company’s stock after selling 200 shares during the quarter. Bailard Inc.’s holdings in Group 1 Automotive were worth $396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GPI. Hennessy Advisors Inc. purchased a new position in Group 1 Automotive during the 4th quarter worth approximately $24,562,000. The Manufacturers Life Insurance Company grew its position in Group 1 Automotive by 12.5% during the third quarter. The Manufacturers Life Insurance Company now owns 574,561 shares of the company’s stock valued at $154,390,000 after buying an additional 63,726 shares during the period. Covalis Capital LLP acquired a new position in shares of Group 1 Automotive in the third quarter worth about $16,330,000. Boston Partners purchased a new position in shares of Group 1 Automotive in the 3rd quarter valued at about $12,703,000. Finally, South Dakota Investment Council boosted its position in Group 1 Automotive by 407.5% during the third quarter. South Dakota Investment Council now owns 35,399 shares of the company’s stock worth $9,512,000 after purchasing an additional 28,424 shares in the last quarter. Institutional investors and hedge funds own 99.92% of the company’s stock.

Group 1 Automotive Trading Down 0.0 %

Shares of GPI stock opened at $300.35 on Friday. Group 1 Automotive, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $310.08. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.33 and a current ratio of 1.11. The stock’s fifty day moving average is $273.44 and its two-hundred day moving average is $275.02. The firm has a market capitalization of $4.06 billion, a P/E ratio of 7.09, a PEG ratio of 1.52 and a beta of 1.42.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $9.50 earnings per share for the quarter, missing the consensus estimate of $10.44 by ($0.94). The business had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.41 billion. Group 1 Automotive had a return on equity of 22.82% and a net margin of 3.23%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $10.86 earnings per share. Research analysts expect that Group 1 Automotive, Inc. will post 39.37 earnings per share for the current fiscal year.

Group 1 Automotive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.47 per share. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, February 29th. Group 1 Automotive’s payout ratio is currently 4.44%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GPI shares. Guggenheim upgraded Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price objective for the company in a research report on Wednesday, April 17th. JPMorgan Chase & Co. cut their price target on shares of Group 1 Automotive from $325.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. Morgan Stanley raised shares of Group 1 Automotive from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $200.00 to $255.00 in a report on Thursday, February 29th. StockNews.com cut shares of Group 1 Automotive from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Stephens reaffirmed an “overweight” rating and issued a $330.00 price target on shares of Group 1 Automotive in a research note on Tuesday, February 13th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Group 1 Automotive has a consensus rating of “Moderate Buy” and an average target price of $331.67.

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.