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

Ruane Cunniff & Goldfarb L.P. lessened its position in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,386 shares of the company’s stock after selling 41 shares during the period. Group 1 Automotive makes up 0.0% of Ruane Cunniff & Goldfarb L.P.’s portfolio, making the stock its 22nd biggest position. Ruane Cunniff & Goldfarb L.P.’s holdings in Group 1 Automotive were worth $1,297,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GPI. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 worth $1,275,000 after purchasing an additional 137 shares in the last quarter. De Lisle Partners LLP acquired a new position in shares of Group 1 Automotive during the third quarter worth about $5,901,000. Glenmede Trust Co. NA lifted its stake in shares of Group 1 Automotive by 33.2% during the third quarter. Glenmede Trust Co. NA now owns 1,059 shares of the company’s stock worth $406,000 after purchasing an additional 264 shares in the last quarter. Cynosure Group LLC acquired a new position in shares of Group 1 Automotive during the third quarter worth about $367,000. Finally, Advantage Alpha Capital Partners LP acquired a new position in shares of Group 1 Automotive during the third quarter worth about $1,011,000. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Group 1 Automotive

In other Group 1 Automotive news, VP Edward Mckissic sold 79 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 6,259 shares in the company, valued at $2,340,928.59. This represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is currently owned by insiders.

Group 1 Automotive Trading Down 1.0 %

NYSE:GPI opened at $427.76 on Thursday. The business’s 50-day simple moving average is $380.89 and its 200 day simple moving average is $345.33. Group 1 Automotive, Inc. has a one year low of $255.73 and a one year high of $440.32. The stock has a market cap 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 quick ratio of 0.24 and a current ratio of 1.00.

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

Group 1 Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, December 2nd. Group 1 Automotive’s payout ratio is currently 5.01%.

Group 1 Automotive declared that its board has approved a stock buyback plan on Tuesday, November 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 9.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Group 1 Automotive Company Profile

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.