Group 1 Automotive, Inc. (NYSE:GPI) Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC cut its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 32.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,219 shares of the company’s stock after selling 10,636 shares during the period. GW&K Investment Management LLC owned approximately 0.16% of Group 1 Automotive worth $6,771,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in Group 1 Automotive by 12.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 574,561 shares of the company’s stock valued at $154,390,000 after purchasing an additional 63,726 shares during the last quarter. Invesco Ltd. grew its stake in shares of Group 1 Automotive by 6.3% in the third quarter. Invesco Ltd. now owns 171,335 shares of the company’s stock valued at $46,039,000 after buying an additional 10,099 shares in the last quarter. Norges Bank purchased a new stake in shares of Group 1 Automotive in the 4th quarter valued at $46,923,000. Charles Schwab Investment Management Inc. lifted its stake in Group 1 Automotive by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 150,754 shares of the company’s stock worth $45,941,000 after acquiring an additional 614 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Group 1 Automotive by 28.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 95,572 shares of the company’s stock valued at $25,681,000 after acquiring an additional 21,001 shares during the period. 99.92% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Michael David Jones sold 1,400 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $294.63, for a total value of $412,482.00. Following the completion of the sale, the vice president now directly owns 11,535 shares of the company’s stock, valued at approximately $3,398,557.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Group 1 Automotive Price Performance

Shares of GPI opened at $306.70 on Thursday. The firm’s fifty day simple moving average is $288.02 and its 200-day simple moving average is $281.79. The company has a current ratio of 1.04, a quick ratio of 0.27 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 1.60 and a beta of 1.38. Group 1 Automotive, Inc. has a twelve month low of $219.25 and a twelve month high of $323.95.

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

Group 1 Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.88 annualized dividend and a yield of 0.61%. Group 1 Automotive’s dividend payout ratio is presently 4.44%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GPI. Guggenheim raised shares of Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price target on the stock in a research report on Wednesday, April 17th. JPMorgan Chase & Co. reduced their target price on shares of Group 1 Automotive from $315.00 to $310.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Stephens restated an “overweight” rating and issued a $330.00 price target on shares of Group 1 Automotive in a research note on Tuesday, February 13th. Morgan Stanley upgraded 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 research note on Thursday, February 29th. Finally, StockNews.com cut Group 1 Automotive from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $330.83.

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.