Nordea Investment Management AB Raises Stock Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

Nordea Investment Management AB grew its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 3.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,300 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. Nordea Investment Management AB owned approximately 0.31% of Group 1 Automotive worth $3,707,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quantamental Technologies LLC purchased a new stake in Group 1 Automotive in the 1st quarter worth approximately $37,000. Denali Advisors LLC purchased a new stake in Group 1 Automotive in the 1st quarter worth approximately $58,000. Investors Research Corp purchased a new stake in Group 1 Automotive in the 1st quarter worth approximately $84,000. 6 Meridian purchased a new stake in Group 1 Automotive in the 1st quarter worth approximately $224,000. Finally, AlphaCrest Capital Management LLC purchased a new stake in Group 1 Automotive in the 4th quarter worth approximately $258,000. 99.96% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have commented on GPI shares. Zacks Investment Research lowered Great Portland Estates from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Buckingham Research set a $31.00 target price on nVent Electric and gave the stock a “buy” rating in a research note on Friday, April 26th. ValuEngine raised XPO Logistics from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 4th. Finally, Morgan Stanley upped their target price on Sonic Automotive from $10.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday, May 6th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $84.00.

In other Group 1 Automotive news, insider Michael David Jones sold 2,500 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $77.76, for a total value of $194,400.00. Following the sale, the insider now owns 13,921 shares of the company’s stock, valued at approximately $1,082,496.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frank Grese sold 5,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $78.45, for a total value of $392,250.00. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

NYSE GPI traded down $0.33 during mid-day trading on Thursday, hitting $82.58. The stock had a trading volume of 147,900 shares, compared to its average volume of 159,882. Group 1 Automotive, Inc. has a twelve month low of $48.69 and a twelve month high of $84.36. The company has a market capitalization of $1.54 billion, a PE ratio of 9.27, a price-to-earnings-growth ratio of 1.61 and a beta of 1.79. The stock’s 50 day moving average is $78.73. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.23.

Group 1 Automotive (NYSE:GPI) last issued its earnings results on Thursday, April 25th. The company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.25. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.86 billion. Group 1 Automotive had a return on equity of 15.56% and a net margin of 1.38%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the company earned $1.70 EPS. On average, sell-side analysts anticipate that Group 1 Automotive, Inc. will post 10.06 earnings per share for the current year.

Group 1 Automotive Profile

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. The company sells new and used cars, light trucks, and vehicle parts, as well as service insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It has operations primarily in the metropolitan areas in Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 32 towns in the United Kingdom; and metropolitan markets in the states of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.

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Institutional Ownership by Quarter for Group 1 Automotive (NYSE:GPI)

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