Brandywine Global Investment Management LLC Sells 3,555 Shares of Group 1 Automotive, Inc. (GPI)

Brandywine Global Investment Management LLC decreased its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 4.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 80,053 shares of the company’s stock after selling 3,555 shares during the quarter. Brandywine Global Investment Management LLC owned 0.38% of Group 1 Automotive worth $5,069,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GPI. Russell Investments Group Ltd. boosted its stake in shares of Group 1 Automotive by 854.4% in the first quarter. Russell Investments Group Ltd. now owns 17,761 shares of the company’s stock valued at $1,315,000 after purchasing an additional 15,900 shares during the period. US Bancorp DE boosted its stake in shares of Group 1 Automotive by 7.4% in the first quarter. US Bancorp DE now owns 4,695 shares of the company’s stock valued at $348,000 after purchasing an additional 325 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Group 1 Automotive by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 333,199 shares of the company’s stock valued at $24,683,000 after purchasing an additional 19,279 shares during the period. Comerica Bank boosted its stake in shares of Group 1 Automotive by 4.3% in the first quarter. Comerica Bank now owns 22,303 shares of the company’s stock valued at $1,671,000 after purchasing an additional 928 shares during the period. Finally, Karp Capital Management Corp purchased a new position in shares of Group 1 Automotive in the first quarter valued at approximately $564,000. 97.67% of the stock is owned by institutional investors and hedge funds.

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Several research firms have recently commented on GPI. TheStreet lowered shares of Group 1 Automotive from a “b-” rating to a “c+” rating in a research note on Thursday, August 17th. BidaskClub lowered shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Wells Fargo & Company reissued a “market perform” rating and issued a $66.00 price objective (down previously from $75.00) on shares of Group 1 Automotive in a research note on Monday, July 17th. Berenberg Bank began coverage on shares of Group 1 Automotive in a research note on Wednesday. They issued a “hold” rating and a $77.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Group 1 Automotive from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $73.80.

Shares of Group 1 Automotive, Inc. (GPI) opened at 72.68 on Friday. The company has a 50-day moving average of $64.04 and a 200 day moving average of $63.91. Group 1 Automotive, Inc. has a one year low of $51.62 and a one year high of $83.18. The firm has a market cap of $1.46 billion, a PE ratio of 11.17 and a beta of 1.63.

Group 1 Automotive (NYSE:GPI) last released its quarterly earnings results on Thursday, July 27th. The company reported $1.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.99 by ($0.12). The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Group 1 Automotive had a return on equity of 15.73% and a net margin of 1.26%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.16 EPS. On average, equities research analysts expect that Group 1 Automotive, Inc. will post $7.06 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Wednesday, August 30th. Group 1 Automotive’s dividend payout ratio is presently 14.75%.

In other Group 1 Automotive news, CFO John C. Rickel sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $66.99, for a total value of $669,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 7.00% of the stock is owned by corporate insiders.

Group 1 Automotive Company Profile

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.

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

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