Tabor Asset Management LP Grows Holdings in Group 1 Automotive, Inc. (NYSE:GPI)

Tabor Asset Management LP boosted its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 61.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,930 shares of the company’s stock after purchasing an additional 4,180 shares during the quarter. Group 1 Automotive comprises 2.0% of Tabor Asset Management LP’s investment portfolio, making the stock its 24th largest holding. Tabor Asset Management LP owned 0.08% of Group 1 Automotive worth $4,187,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GPI. Assetmark Inc. grew its stake in Group 1 Automotive by 51.9% in the 3rd quarter. Assetmark Inc. now owns 82 shares of the company’s stock valued at $31,000 after acquiring an additional 28 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Group 1 Automotive during the third quarter valued at approximately $36,000. Avior Wealth Management LLC purchased a new stake in shares of Group 1 Automotive during the third quarter valued at approximately $46,000. Hexagon Capital Partners LLC raised its stake in shares of Group 1 Automotive by 53.7% during the second quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock valued at $43,000 after purchasing an additional 51 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Group 1 Automotive during the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Group 1 Automotive Stock Performance

Shares of GPI opened at $429.00 on Friday. Group 1 Automotive, Inc. has a 1 year low of $255.73 and a 1 year high of $440.32. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 11.43 and a beta of 1.35. 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 fifty day moving average of $386.42 and a 200-day moving average of $349.80.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.87 by $0.03. The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.06 billion. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.07 earnings per share. As a group, equities analysts anticipate 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 stock repurchase program on Tuesday, November 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 9.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Group 1 Automotive Dividend Announcement

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

Insider Buying and Selling

In related news, VP Edward Mckissic sold 79 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 6,259 shares of the company’s stock, valued at $2,340,928.59. This represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GPI shares. Morgan Stanley upgraded shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $285.00 to $430.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lifted 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. StockNews.com upgraded shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Stephens started coverage on shares of Group 1 Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price target for the company. Finally, Guggenheim lifted their price target on shares of Group 1 Automotive from $420.00 to $442.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Group 1 Automotive has an average 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.