Bank of America Corp DE Sells 22,158 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Posted by Defense World Staff on Jun 8th, 2023

Bank of America Corp DE cut its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI – Get Rating) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,933 shares of the company’s stock after selling 22,158 shares during the quarter. Bank of America Corp DE owned approximately 1.67% of Group 1 Automotive worth $43,818,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Schroder Investment Management Group boosted its stake in Group 1 Automotive by 5.9% during the fourth quarter. Schroder Investment Management Group now owns 36,439 shares of the company’s stock worth $6,573,000 after acquiring an additional 2,035 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Group 1 Automotive in the fourth quarter valued at $744,000. Franklin Resources Inc. lifted its stake in shares of Group 1 Automotive by 0.4% in the fourth quarter. Franklin Resources Inc. now owns 35,806 shares of the company’s stock valued at $6,458,000 after buying an additional 144 shares in the last quarter. HRT Financial LP lifted its stake in shares of Group 1 Automotive by 50.2% in the fourth quarter. HRT Financial LP now owns 26,073 shares of the company’s stock valued at $4,702,000 after buying an additional 8,710 shares in the last quarter. Finally, Advisor Group Holdings Inc. lifted its position in shares of Group 1 Automotive by 15.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,595 shares of the company’s stock valued at $467,000 after purchasing an additional 347 shares in the last quarter. 97.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GPI. JPMorgan Chase & Co. raised their price objective on shares of Group 1 Automotive from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, February 21st. StockNews.com began coverage on shares of Group 1 Automotive in a research report on Thursday, May 18th. They issued a “buy” rating on the stock.

Group 1 Automotive Stock Performance

Group 1 Automotive stock opened at $246.01 on Thursday. The firm’s 50 day simple moving average is $224.16 and its 200 day simple moving average is $210.24. The company has a current ratio of 1.02, a quick ratio of 0.27 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $3.48 billion, a PE ratio of 5.32, a price-to-earnings-growth ratio of 1.80 and a beta of 1.47. Group 1 Automotive, Inc. has a 1-year low of $136.16 and a 1-year high of $247.82.

Group 1 Automotive (NYSE:GPI – Get Rating) last posted its earnings results on Wednesday, April 26th. The company reported $10.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.70 by $1.23. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $3.92 billion. Group 1 Automotive had a net margin of 4.20% and a return on equity of 31.16%. Group 1 Automotive’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.81 EPS. As a group, analysts expect that Group 1 Automotive, Inc. will post 40.94 earnings per share for the current fiscal year.

Group 1 Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Wednesday, May 31st. Group 1 Automotive’s dividend payout ratio (DPR) is presently 3.89%.

Insider Buying and Selling

In other Group 1 Automotive news, VP Edward Mckissic sold 140 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $220.00, for a total value of $30,800.00. Following the completion of the transaction, the vice president now owns 2,837 shares of the company’s stock, valued at approximately $624,140. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.50% of the stock is currently owned by insiders.

About Group 1 Automotive

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Group 1 Automotive, Inc engages in the automotive retailing industry. The firm operates through the following geographical segments: U.S, the UK, and Brazil. It also sells new and used cars and light trucks, arranges related vehicle financing, sells service contracts, provides automotive maintenance and repair services, and sells vehicle parts.