Hodges Capital Management Inc. Has $8.41 Million Stock Position in Group 1 Automotive, Inc. (NYSE:GPI)

Hodges Capital Management Inc. raised its position in Group 1 Automotive, Inc. (NYSE:GPI) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,960 shares of the company’s stock after buying an additional 289 shares during the period. Hodges Capital Management Inc. owned 0.16% of Group 1 Automotive worth $8,412,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC acquired a new position in shares of Group 1 Automotive in the 2nd quarter worth approximately $452,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Group 1 Automotive in the third quarter worth $3,286,000. The Manufacturers Life Insurance Company grew its holdings in shares of Group 1 Automotive by 22.0% during the second quarter. The Manufacturers Life Insurance Company now owns 639,142 shares of the company’s stock worth $190,004,000 after purchasing an additional 115,143 shares during the last quarter. Raymond James & Associates increased its stake in shares of Group 1 Automotive by 8.3% in the second quarter. Raymond James & Associates now owns 40,541 shares of the company’s stock valued at $12,052,000 after buying an additional 3,095 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its position in Group 1 Automotive by 25.8% during the 3rd quarter. Pathstone Holdings LLC now owns 10,180 shares of the company’s stock worth $3,899,000 after buying an additional 2,089 shares in the last quarter. 99.92% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Edward Mckissic sold 79 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Group 1 Automotive Trading Up 0.5 %

NYSE GPI opened at $430.49 on Friday. Group 1 Automotive, Inc. has a 12 month low of $255.73 and a 12 month high of $440.32. The stock has a 50-day simple moving average of $387.31 and a 200 day simple moving average of $350.90. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $5.73 billion, a PE ratio of 11.47 and a beta of 1.35.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.87 by $0.03. The firm had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.06 billion. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $12.07 earnings per share. Research analysts forecast that Group 1 Automotive, Inc. will post 38.37 EPS for the current year.

Group 1 Automotive announced that its Board of Directors has initiated a share buyback plan on Tuesday, November 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 9.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Group 1 Automotive Announces Dividend

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

Analysts Set New Price Targets

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

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.