Group 1 Automotive, Inc. (NYSE:GPI) Stake Lowered by Ruane Cunniff & Goldfarb L.P.

Ruane Cunniff & Goldfarb L.P. cut its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 1.2% in the 3rd quarter, Holdings Channel reports. The firm owned 3,386 shares of the company’s stock after selling 41 shares during the quarter. Group 1 Automotive comprises approximately 0.0% of Ruane Cunniff & Goldfarb L.P.’s holdings, making the stock its 22nd biggest position. Ruane Cunniff & Goldfarb L.P.’s holdings in Group 1 Automotive were worth $1,297,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Group 1 Automotive by 4.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,328 shares of the company’s stock valued at $1,275,000 after purchasing an additional 137 shares during the last quarter. De Lisle Partners LLP bought a new position in Group 1 Automotive in the 3rd quarter worth approximately $5,901,000. Glenmede Trust Co. NA grew its holdings in Group 1 Automotive by 33.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 1,059 shares of the company’s stock worth $406,000 after buying an additional 264 shares in the last quarter. Cynosure Group LLC bought a new position in Group 1 Automotive in the 3rd quarter worth approximately $367,000. Finally, Advantage Alpha Capital Partners LP bought a new position in Group 1 Automotive in the 3rd quarter worth approximately $1,011,000. 99.92% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Edward Mckissic sold 79 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following the completion of the sale, the vice president now owns 6,259 shares in the company, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GPI. StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley raised Group 1 Automotive from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. Guggenheim increased their price objective on Group 1 Automotive from $420.00 to $442.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Stephens started coverage on Group 1 Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Group 1 Automotive currently has a consensus rating of “Moderate Buy” and a consensus price target of $425.20.

Group 1 Automotive Stock Performance

GPI opened at $427.76 on Thursday. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 11.40 and a beta of 1.33. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24. Group 1 Automotive, Inc. has a 1-year low of $255.73 and a 1-year high of $440.32. The business has a 50 day moving average price of $380.89 and a two-hundred day moving average price of $345.33.

Group 1 Automotive (NYSE:GPI) last released its earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share for the quarter, topping analysts’ consensus estimates of $9.87 by $0.03. The firm had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $12.07 earnings per share. Research analysts predict that Group 1 Automotive, Inc. will post 38.38 EPS for the current fiscal year.

Group 1 Automotive announced that its Board of Directors has approved a share repurchase plan on Tuesday, November 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 9.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Group 1 Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.44%. Group 1 Automotive’s dividend payout ratio (DPR) is presently 5.01%.

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.