On September 3, 2023, it was revealed that Dimensional Fund Advisors LP made a reduction in its holdings of Group 1 Automotive, Inc. by 1.5% during the first quarter. The disclosure was filed with the Securities & Exchange Commission and stated that the institutional investor now owns 1,209,625 shares of the company’s stock after selling off 18,754 shares during the quarter. At the end of the reporting period, Dimensional Fund Advisors LP’s ownership in Group 1 Automotive was valued at approximately $273,880,000.
Several equity research analysts have recently commented on Group 1 Automotive’s stock. Bank of America raised their price target from $430.00 to $445.00 in a research note dated July 6th. StockNews.com also initiated coverage on Group 1 Automotive and gave it a “buy” rating in an August 17th research note. Another analyst firm called Stephens increased their target price from $295.00 to $350.00 on July 19th. Benchmark lifted their price target as well, moving it from $300.00 to $340.00 in a report on July 31st. Finally, Morgan Stanley upped their price objective on Group 1 Automotive from $134.00 to $200.00 and assigned an “underweight” rating to the stock on August 9th.
During Friday’s trading session, Group 1 Automotive stock saw an increase of $3.78 and reached a trading volume of just 1,415 shares compared to its average volume of around 158,965 shares traded per day. The company currently has a market capitalization of $3.77 billion along with a low price-to-earnings ratio of only 5.70 and a price-to-earnings-growth ratio of about 1.92.
The stock’s recent performance indicates that it is trading above its 50-day moving average of $260.14 and its two-hundred-day moving average of $237.02. In terms of liquidity, the company’s quick ratio is 0.30, while its current ratio stands at 1.11. Group 1 Automotive also has a debt-to-equity ratio of 0.86.
Over the past year, Group 1 Automotive has experienced a substantial increase in stock price, with a low point of $136.16 and a high point of $277.47.
As the market continues to assess the dynamics of automotive companies, it remains to be seen how these factors will impact Group 1 Automotive’s future performance and whether Dimensional Fund Advisors LP’s reduction in holdings will have any lasting effects on the company’s financial position.
Group 1 Automotive, Inc.
Updated on: 02/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Institutional Investors Show Increased Interest in Group 1 Automotive as Company Posts Strong Financial Performance
Group 1 Automotive, Inc. (NYSE: GPI) has seen increased interest from institutional investors and hedge funds recently. Notably, OLD Mission Capital LLC acquired a stake in the company during the fourth quarter of the previous year, valued at approximately $27,000. Additionally, New Hampshire Trust also acquired a stake in Group 1 Automotive during the same period, worth about $31,000. Amundi followed suit with a new position in the company valued at approximately $41,000.
Furthermore, Benjamin Edwards Inc. significantly boosted its holdings in Group 1 Automotive by 133% in the first quarter of this year. The firm now owns 247 shares of the company’s stock, valued at $56,000 after acquiring an additional 141 shares in the last quarter. Federated Hermes Inc. also increased its position by 54.6% during the third quarter and now owns 252 shares of Group 1 Automotive’s stock valued at $36,000.
It is worth noting that institutional investors own an overwhelming majority (99.92%) of Group 1 Automotive’s stock.
In terms of recent corporate developments, CEO Daryl Kenningham sold 9,500 shares of Group 1 Automotive stock on August 18th for a total value of $2,492,895. After this sale transaction, Kenningham now directly holds 24,548 shares of Group 1 Automotive’s stock valued at $6,441,640.68.
VP Darryl M. Burman also sold off some of his holdings when he disposed of 2,500 shares on June 7th for approximately $616,950.
Overall within the past three months alone, insiders have sold a total of 25,350 shares valued at around $6,405,823. It is worth noting that company insiders currently hold around to own a considerable amount (3.50%)of Group 1 Automotive’s stock.
Several equities research analysts have weighed in on Group 1 Automotive’s stock recently. Bank of America has raised its price target from $430 to $445, while StockNews.com has initiated coverage with a “buy” rating.
Stephens also increased their target price from $295 to $350 and Benchmark lifted their price target from $300 to $340. On the other hand, Morgan Stanley downgraded the stock and set an “underweight” rating with an updated price objective of $200.
In terms of financial performance, Group 1 Automotive released its quarterly earnings data on July 26th. The company reported earnings per share (EPS) of $11.73 for the quarter, surpassing the consensus estimate of $11.08 by $0.65. Furthermore, Group 1 Automotive garnered revenue of $4.56 billion during the quarter, compared to a consensus estimate of $4.36 billion. This indicates an 11.2% increase in revenue compared to the same period last year.
Notably, Group 1 Automotive recorded a net margin of 3.98% and a return on equity (ROE) of 28.33%. These figures highlight the company’s solid financial performance.
Analysts predict that Group 1 Automotive will post EPS of around 43.8 for the current fiscal year.
In terms of dividends, Group 1 Automotive recently disclosed a quarterly dividend payout which will be distributed on September 15th to stockholders of record as of September 1st. The dividend amount is set at $0.45 per share, representing an annualized dividend yield of approximately 0.67%. Currently, Group 1 Automotive’s dividend payout ratio stands at about 3.88%.
Overall, recent developments show significant interest from institutional investors in Group 1 Automotive’s stock and positive financial performance in terms of revenue growth and beating earnings estimates. However, it is essential to consider analyst ratings and evaluations when making investment decisions related to the company’s stock.