UBS Asset Management Americas Inc. lowered its stake in shares of Group 1 Automotive Inc. (NYSE:GPI) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 21,394 shares of the company’s stock after selling 500 shares during the period. UBS Asset Management Americas Inc. owned 0.10% of Group 1 Automotive worth $1,055,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Societe Generale bought a new stake in shares of Group 1 Automotive during the second quarter valued at $134,000. SG Americas Securities LLC bought a new stake in shares of Group 1 Automotive during the second quarter valued at $134,000. BlackRock Inc. boosted its stake in shares of Group 1 Automotive by 77.2% in the first quarter. BlackRock Inc. now owns 2,522 shares of the company’s stock valued at $148,000 after buying an additional 1,099 shares in the last quarter. KBC Group NV boosted its stake in shares of Group 1 Automotive by 159.6% in the second quarter. KBC Group NV now owns 4,611 shares of the company’s stock valued at $228,000 after buying an additional 2,835 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Group 1 Automotive during the second quarter valued at $261,000. Hedge funds and other institutional investors own 97.19% of the company’s stock.
Shares of Group 1 Automotive Inc. (NYSE:GPI) opened at 62.55 on Tuesday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 15.72 and a beta of 1.58. The firm has a 50-day moving average price of $61.77 and a 200 day moving average price of $59.18. Group 1 Automotive Inc. has a 52 week low of $47.31 and a 52 week high of $89.52.
Group 1 Automotive (NYSE:GPI) last announced its earnings results on Thursday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.07. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Group 1 Automotive had a return on equity of 17.97% and a net margin of 0.82%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $1.98 earnings per share. On average, analysts forecast that Group 1 Automotive Inc. will post $7.54 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on GPI shares. Buckingham Research upgraded Group 1 Automotive from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 20th. Zacks Investment Research upgraded Group 1 Automotive from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, September 27th. TheStreet raised Group 1 Automotive from a “hold” rating to a “buy” rating in a report on Thursday, September 15th. Seaport Global Securities began coverage on Group 1 Automotive in a report on Tuesday, August 9th. They set a “neutral” rating for the company. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and set a $61.00 price objective (down previously from $64.00) on shares of Group 1 Automotive in a report on Saturday, October 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $64.00.
In other news, VP Darryl M. Burman sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $58.90, for a total value of $117,800.00. Following the transaction, the vice president now owns 72,633 shares of the company’s stock, valued at $4,278,083.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Earl J. Hesterberg sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $59.97, for a total value of $599,700.00. Following the completion of the transaction, the chief executive officer now directly owns 165,251 shares in the company, valued at approximately $9,910,102.47. The disclosure for this sale can be found here. 7.00% of the stock is owned by company insiders.
About Group 1 Automotive
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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