Insider Selling: Group 1 Automotive, Inc. (GPI) CEO Sells 40,000 Shares of Stock
Group 1 Automotive, Inc. (NYSE:GPI) CEO Earl J. Hesterberg sold 40,000 shares of the stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $79.39, for a total value of $3,175,600.00. Following the transaction, the chief executive officer now owns 108,440 shares in the company, valued at $8,609,051.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Group 1 Automotive, Inc. (NYSE:GPI) opened at $82.47 on Friday. The firm has a market capitalization of $1,720.00, a PE ratio of 13.03, a P/E/G ratio of 1.41 and a beta of 1.69. Group 1 Automotive, Inc. has a fifty-two week low of $51.62 and a fifty-two week high of $84.47. The company has a current ratio of 1.05, a quick ratio of 0.27 and a debt-to-equity ratio of 1.28.
Group 1 Automotive (NYSE:GPI) last issued its earnings results on Thursday, October 26th. The company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.47. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Group 1 Automotive had a return on equity of 15.69% and a net margin of 1.20%. Group 1 Automotive’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.96 EPS. equities analysts predict that Group 1 Automotive, Inc. will post 7.53 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 30th. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.21%. Group 1 Automotive’s dividend payout ratio is currently 15.80%.
Several equities analysts have recently commented on GPI shares. Buckingham Research lowered Group 1 Automotive from a “buy” rating to a “neutral” rating and set a $86.00 price objective on the stock. in a research report on Monday, November 13th. Zacks Investment Research upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. KeyCorp reiterated a “hold” rating on shares of Group 1 Automotive in a research report on Wednesday, October 4th. Stephens reiterated an “equal weight” rating and set a $87.00 price objective (up from $83.00) on shares of Group 1 Automotive in a research report on Wednesday, October 4th. Finally, Wells Fargo & Co increased their price objective on Group 1 Automotive from $65.00 to $85.00 and gave the company a “market perform” rating in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $79.50.
A number of hedge funds have recently modified their holdings of GPI. Victory Capital Management Inc. boosted its holdings in Group 1 Automotive by 17.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,797 shares of the company’s stock valued at $114,000 after acquiring an additional 271 shares during the period. Riverhead Capital Management LLC boosted its holdings in Group 1 Automotive by 93.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,932 shares of the company’s stock valued at $122,000 after acquiring an additional 932 shares during the period. SG Americas Securities LLC purchased a new stake in Group 1 Automotive during the 2nd quarter valued at about $177,000. Quantitative Systematic Strategies LLC purchased a new stake in Group 1 Automotive during the 3rd quarter valued at about $215,000. Finally, Eqis Capital Management Inc. purchased a new stake in Group 1 Automotive during the 3rd quarter valued at about $232,000. Institutional investors own 97.57% of the company’s stock.
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Group 1 Automotive Company Profile
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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