September 14, 2023
Titleist Asset Management LLC Acquires Stake in Group 1 Automotive
In recent news, Titleist Asset Management LLC has acquired a new stake in Group 1 Automotive, Inc. (NYSE:GPI) during the first quarter of this year. According to the company’s most recent filing with the Securities and Exchange Commission (SEC), the institutional investor now holds 1,714 shares of Group 1 Automotive’s stock, valued at approximately $388,000.
Group 1 Automotive (NYSE:GPI) recently released its quarterly earnings results on Wednesday, July 26th. During this period, the company reported an impressive $11.73 EPS for the quarter. This result surpassed analysts’ consensus estimates of $11.08 by $0.65. Furthermore, Group 1 Automotive generated $4.56 billion in revenue for the quarter, surpassing analyst expectations of $4.36 billion.
The return on equity for Group 1 Automotive was reported at 28.33%, demonstrating strong performance in this area. Additionally, the company achieved a net margin of 3.98%. Moreover, it is worth noting that Group 1 Automotive’s quarterly revenue saw an increase of 11.2% compared to the same quarter last year when the company posted earnings per share of $12.
Equities analysts have been closely following developments regarding Group 1 Automotive and have issued numerous research reports analyzing its performance and potential outlooks. JPMorgan Chase & Co., for example, raised their price objective on Group 1 Automotive from $275 to $280 and gave it an “overweight” rating in their report on July 31st. Similarly, Stephens boosted their price objective from $295 to $350 in their report dated July 19th.
Bank of America also weighed in by raising their target price for Group 1 Automotive from $430 to $445 on July 6th. Benchmark followed suit, increasing their price target on the company from $300 to $340 in their report published on July 31st. It is important to mention that Morgan Stanley took a more cautious approach by raising Group 1 Automotive’s price objective from $134 to $200 and branding the company with an “underweight” rating in their research note dated August 9th.
As September 14, 2023, press time arrives, Group 1 Automotive looks poised for continued success. With positive quarterly results and favorable analysis from prominent financial institutions, there are indications that the company will likely post strong earnings per share of approximately 43.8 for the current year.
It remains to be seen how investments and strategic decisions made by Titleist Asset Management LLC will impact Group 1 Automotive moving forward. Industry observers and stakeholders will undoubtedly follow these developments with keen interest, eager to witness the long-term implications and potential growth opportunities for both parties involved.
Group 1 Automotive, Inc.
GPI
Strong Buy
Updated on: 07/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Ownership Changes and Insider Trading Activity Surrounding Group 1 Automotive
September 14, 2023 – Group 1 Automotive, Inc. experienced recent changes to its ownership structure as various institutional investors and hedge funds adjusted their positions in the company. Tower Research Capital LLC TRC, for instance, raised its stake in Group 1 Automotive by 11.9% during the first quarter. This resulted in Tower Research Capital LLC TRC now owning 469 shares of the company’s stock worth $106,000 after purchasing an additional 50 shares.
Likewise, PNC Financial Services Group Inc. increased its holdings in shares of Group 1 Automotive by 2.9% during the fourth quarter and now owns 1,782 shares valued at $321,000 after acquiring an additional 51 shares in the last quarter. Cetera Investment Advisers also raised their position by 3.0% during the first quarter with a total of 1,724 shares valued at $390,000 after purchasing an additional 51 shares.
Similarly, Mercer Global Advisors Inc. ADV lifted its holdings by 1.9% in the first quarter and now owns 3,176 shares worth $719,000 after acquiring an additional 58 shares during this period. Lastly, Neuberger Berman Group LLC grew its position by 2.8% during the third quarter and currently owns about 2,180 shares of Group 1 Automotive’s stock valued at $312,000 after adding an additional 59 shares to their portfolio.
Based on these transactions alone from institutional investors and hedge funds, it can be deduced that overall Group 1 Automotive has witnessed significant activity surrounding its stock ownership among these entities.
In a different vein of news regarding key managerial figures within Group 1 Automotive – Vice President Michael David Jones recently completed a transaction involving the sale of his personal stake to unload a total of
850 company stock shares on Wednesday August ninth for approximately $257.68 each share. Consequently, the transaction netted a sum of $219,028.00 for Jones.
Another Vice President of Group 1 Automotive, Peter C. Delongchamps, sold 10,000 shares of the company’s stock on Friday June 23rd at an average price of $246.00 per share which accumulated to a total value of $2,460,000.00.
Within the last 90 days leading up to September 14th, insiders have collectively sold a whopping 20,350 shares of company stock valued at approximately $5,171,923. As a result of these insider transactions during this period alone, top executives now own roughly 3.50% of the company’s stock.
Group 1 Automotive commenced trading on Thursday with an opening stock price of $262.93 per share and has previously experienced a yearly range between its lowest point at $136.16 and its highest peak at $277.47 within market conditions. Notably however is that its current market cap stands at approximately $3.69 billion with a low P/E ratio of 5.67.
Additionally, Group 1 Automotive holds a quick ratio of 0.30 and a current ratio of 1.11 which indicates liquidity levels for the company are relatively stable even though their debt-to-equity ratio is set at 0.86.
In conclusion, Group 1 Automotive has seen significant ownership adjustments from institutional investors and hedge funds along with insider trading activities from key managerial personnel over recent periods. The intricate web surrounding these financial movements suggest varying sentiments towards the company as it strives towards maintaining steady operations in the highly competitive market it operates in.
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