Olympiad Research LP Acquires New Position in Group 1 Automotive, Inc. (NYSE:GPI)

Olympiad Research LP acquired a new stake in Group 1 Automotive, Inc. (NYSE:GPI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 858 shares of the company’s stock, valued at approximately $329,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its position in Group 1 Automotive by 22.0% during the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock worth $190,004,000 after acquiring an additional 115,143 shares during the last quarter. Woodson Capital Management LP raised its position in Group 1 Automotive by 114.6% during the first quarter. Woodson Capital Management LP now owns 142,500 shares of the company’s stock worth $41,643,000 after acquiring an additional 76,102 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Group 1 Automotive by 57.4% during the third quarter. Assenagon Asset Management S.A. now owns 63,236 shares of the company’s stock worth $24,222,000 after acquiring an additional 23,051 shares during the last quarter. Shellback Capital LP raised its position in Group 1 Automotive by 27.1% during the second quarter. Shellback Capital LP now owns 95,302 shares of the company’s stock worth $28,331,000 after acquiring an additional 20,302 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its position in Group 1 Automotive by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 108,500 shares of the company’s stock worth $32,255,000 after acquiring an additional 16,600 shares during the last quarter. Institutional investors and hedge funds own 99.92% of the company’s stock.

Insiders Place Their Bets

In other Group 1 Automotive news, VP Michael David Jones sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $350.99, for a total transaction of $421,188.00. Following the completion of the sale, the vice president now directly owns 9,742 shares in the company, valued at $3,419,344.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Edward Mckissic sold 79 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total transaction of $29,546.79. Following the transaction, the vice president now directly owns 6,259 shares of the company’s stock, valued at approximately $2,340,928.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael David Jones sold 1,200 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total transaction of $421,188.00. Following the transaction, the vice president now directly owns 9,742 shares in the company, valued at approximately $3,419,344.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Group 1 Automotive Price Performance

Group 1 Automotive stock opened at $402.79 on Friday. Group 1 Automotive, Inc. has a 1 year low of $255.73 and a 1 year high of $413.36. The firm has a 50 day moving average price of $366.72 and a 200 day moving average price of $333.42. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.88 and a beta of 1.33. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.26 and a current ratio of 1.00.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the previous year, the firm earned $12.07 earnings per share. Group 1 Automotive’s revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts predict that Group 1 Automotive, Inc. will post 38.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

GPI has been the subject of a number of research reports. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday. Stephens initiated coverage on shares of Group 1 Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 price target for the company. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $285.00 to $430.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price target on shares of Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Bank of America lowered their price target on shares of Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $397.80.

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.