ExodusPoint Capital Management LP Sells 7,634 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Posted by Defense World Staff on Sep 7th, 2023

ExodusPoint Capital Management LP decreased its position in shares of Group 1 Automotive, Inc. (NYSE:GPI – Free Report) by 71.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,114 shares of the company’s stock after selling 7,634 shares during the period. ExodusPoint Capital Management LP’s holdings in Group 1 Automotive were worth $705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in Group 1 Automotive by 11.9% during the first quarter. Tower Research Capital LLC TRC now owns 469 shares of the company’s stock valued at $106,000 after acquiring an additional 50 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Group 1 Automotive by 2.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,782 shares of the company’s stock worth $321,000 after buying an additional 51 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Group 1 Automotive by 2.8% in the third quarter. Neuberger Berman Group LLC now owns 2,180 shares of the company’s stock worth $312,000 after buying an additional 59 shares during the last quarter. ETF Managers Group LLC raised its holdings in shares of Group 1 Automotive by 1.5% in the first quarter. ETF Managers Group LLC now owns 4,319 shares of the company’s stock worth $978,000 after buying an additional 64 shares during the last quarter. Finally, Delphia USA Inc. raised its holdings in shares of Group 1 Automotive by 2.9% in the fourth quarter. Delphia USA Inc. now owns 2,411 shares of the company’s stock worth $435,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GPI shares. Bank of America raised their target price on shares of Group 1 Automotive from $430.00 to $445.00 in a report on Thursday, July 6th. StockNews.com started coverage on shares of Group 1 Automotive in a report on Thursday, August 17th. They set a “buy” rating for the company. JPMorgan Chase & Co. raised their target price on shares of Group 1 Automotive from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. Stephens raised their price target on shares of Group 1 Automotive from $295.00 to $350.00 in a research report on Wednesday, July 19th. Finally, Benchmark raised their price target on shares of Group 1 Automotive from $300.00 to $340.00 in a research report on Monday, July 31st.

Read Our Latest Stock Report on GPI

Insider Transactions at Group 1 Automotive

In other Group 1 Automotive news, CEO Daryl Kenningham sold 9,500 shares of Group 1 Automotive stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $262.41, for a total transaction of $2,492,895.00. Following the transaction, the chief executive officer now directly owns 24,548 shares of the company’s stock, valued at $6,441,640.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Group 1 Automotive news, CEO Daryl Kenningham sold 9,500 shares of Group 1 Automotive stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $262.41, for a total transaction of $2,492,895.00. Following the transaction, the chief executive officer now directly owns 24,548 shares of the company’s stock, valued at $6,441,640.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael David Jones sold 850 shares of Group 1 Automotive stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $257.68, for a total transaction of $219,028.00. Following the transaction, the vice president now directly owns 12,040 shares in the company, valued at $3,102,467.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,350 shares of company stock valued at $5,171,923. Corporate insiders own 3.50% of the company’s stock.

Group 1 Automotive Stock Down 0.3 %

Shares of NYSE GPI opened at $261.10 on Thursday. The company’s 50-day simple moving average is $261.39 and its 200-day simple moving average is $237.96. Group 1 Automotive, Inc. has a 52-week low of $136.16 and a 52-week high of $277.47. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 5.63, a price-to-earnings-growth ratio of 2.01 and a beta of 1.45. The company has a quick ratio of 0.30, a current ratio of 1.11 and a debt-to-equity ratio of 0.86.

Group 1 Automotive (NYSE:GPI – Get Free Report) last announced its earnings results on Wednesday, July 26th. The company reported $11.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.08 by $0.65. The business had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.36 billion. Group 1 Automotive had a net margin of 3.98% and a return on equity of 28.33%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the business earned $12.00 earnings per share. Equities analysts predict that Group 1 Automotive, Inc. will post 43.8 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, August 31st. Group 1 Automotive’s dividend payout ratio is currently 3.88%.

Group 1 Automotive Company Profile

(Free Report)

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.