Hsbc Holdings PLC Sells 4,570 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Hsbc Holdings PLC lessened its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPIFree Report) by 30.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,481 shares of the company’s stock after selling 4,570 shares during the quarter. Hsbc Holdings PLC owned approximately 0.08% of Group 1 Automotive worth $3,186,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GPI. Victory Capital Management Inc. lifted its position in shares of Group 1 Automotive by 3.1% in the 3rd quarter. Victory Capital Management Inc. now owns 15,719 shares of the company’s stock worth $4,224,000 after purchasing an additional 472 shares during the period. Barclays PLC lifted its holdings in Group 1 Automotive by 3.0% in the third quarter. Barclays PLC now owns 13,471 shares of the company’s stock worth $3,618,000 after buying an additional 388 shares during the period. New York State Common Retirement Fund boosted its position in Group 1 Automotive by 4.4% during the 3rd quarter. New York State Common Retirement Fund now owns 37,248 shares of the company’s stock valued at $10,009,000 after acquiring an additional 1,578 shares in the last quarter. Swiss National Bank grew its holdings in shares of Group 1 Automotive by 5.8% during the 3rd quarter. Swiss National Bank now owns 31,100 shares of the company’s stock worth $8,357,000 after acquiring an additional 1,700 shares during the period. Finally, Atria Wealth Solutions Inc. bought a new position in shares of Group 1 Automotive in the 3rd quarter worth approximately $240,000. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Price Performance

NYSE GPI opened at $305.96 on Thursday. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 7.22, a PEG ratio of 1.60 and a beta of 1.37. Group 1 Automotive, Inc. has a 1-year low of $227.30 and a 1-year high of $323.95. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.04 and a quick ratio of 0.27. The business’s fifty day moving average price is $294.34 and its 200-day moving average price is $284.11.

Group 1 Automotive (NYSE:GPIGet Free Report) last posted its earnings results on Wednesday, April 24th. The company reported $9.49 earnings per share for the quarter, missing analysts’ consensus estimates of $9.52 by ($0.03). The firm had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.30 billion. Group 1 Automotive had a net margin of 3.23% and a return on equity of 22.45%. On average, equities analysts predict that Group 1 Automotive, Inc. will post 38.86 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Monday, June 3rd. Group 1 Automotive’s payout ratio is 4.44%.

Insider Activity at Group 1 Automotive

In other news, VP Michael David Jones sold 1,400 shares of Group 1 Automotive stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $294.63, for a total transaction of $412,482.00. Following the transaction, the vice president now owns 11,535 shares in the company, valued at approximately $3,398,557.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Group 1 Automotive news, VP Michael David Jones sold 1,400 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $294.63, for a total value of $412,482.00. Following the completion of the sale, the vice president now owns 11,535 shares in the company, valued at $3,398,557.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Daniel James Mchenry sold 2,437 shares of Group 1 Automotive stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $309.61, for a total value of $754,519.57. Following the transaction, the chief financial officer now directly owns 22,430 shares in the company, valued at $6,944,552.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,007 shares of company stock worth $1,221,218. 1.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GPI. JPMorgan Chase & Co. decreased their price objective on Group 1 Automotive from $315.00 to $310.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Morgan Stanley raised shares of Group 1 Automotive from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $200.00 to $255.00 in a research note on Thursday, February 29th. Guggenheim raised shares of Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 target price for the company in a research note on Wednesday, April 17th. Finally, Stephens reissued an “overweight” rating and issued a $330.00 price target on shares of Group 1 Automotive in a research report on Tuesday, February 13th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $330.83.

Check Out Our Latest Research Report on GPI

About Group 1 Automotive

(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.

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Institutional Ownership by Quarter for Group 1 Automotive (NYSE:GPI)

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