Barclays PLC Raises Position in Group 1 Automotive, Inc. (NYSE:GPI)

Barclays PLC grew its position in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 244.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 56,319 shares of the company’s stock after acquiring an additional 39,982 shares during the period. Barclays PLC’s holdings in Group 1 Automotive were worth $21,573,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. increased its stake in shares of Group 1 Automotive by 51.9% in the 3rd quarter. Assetmark Inc. now owns 82 shares of the company’s stock worth $31,000 after acquiring an additional 28 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Group 1 Automotive in the third quarter worth about $36,000. Avior Wealth Management LLC bought a new position in shares of Group 1 Automotive during the third quarter valued at approximately $46,000. Headlands Technologies LLC purchased a new position in shares of Group 1 Automotive during the second quarter valued at approximately $48,000. Finally, Blue Trust Inc. boosted its position in shares of Group 1 Automotive by 47.5% in the 2nd quarter. Blue Trust Inc. now owns 270 shares of the company’s stock worth $79,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Price Performance

Shares of NYSE:GPI opened at $427.10 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 11.38 and a beta of 1.35. The business has a 50-day simple moving average of $392.47 and a two-hundred day simple moving average of $355.01. Group 1 Automotive, Inc. has a fifty-two week low of $255.73 and a fifty-two week high of $440.32.

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

Group 1 Automotive announced that its Board of Directors has approved a share buyback plan on Tuesday, November 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 9.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Group 1 Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 0.44%. Group 1 Automotive’s dividend payout ratio (DPR) is currently 5.01%.

Insider Buying and Selling

In other Group 1 Automotive news, VP Edward Mckissic sold 79 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $374.01, for a total transaction of $29,546.79. Following the completion of the sale, the vice president now directly owns 6,259 shares in the company, valued at $2,340,928.59. The trade was a 1.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GPI has been the subject of a number of recent research reports. StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their price target on shares of Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $285.00 to $430.00 in a research note on Wednesday, September 25th. Stephens initiated coverage on shares of Group 1 Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on shares of Group 1 Automotive in a report on Friday. They set a “buy” rating and a $500.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Group 1 Automotive has a consensus rating of “Moderate Buy” and an average price target of $437.67.

Group 1 Automotive 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.