Wedge Capital Management L L P NC Purchases 1,389 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Wedge Capital Management L L P NC grew its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 44.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,527 shares of the company’s stock after buying an additional 1,389 shares during the period. Wedge Capital Management L L P NC’s holdings in Group 1 Automotive were worth $1,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its position in shares of Group 1 Automotive by 159.6% during the third quarter. Parkside Financial Bank & Trust now owns 122 shares of the company’s stock valued at $33,000 after buying an additional 75 shares during the last quarter. Gladius Capital Management LP bought a new stake in shares of Group 1 Automotive during the third quarter valued at approximately $37,000. Planned Solutions Inc. bought a new stake in shares of Group 1 Automotive during the fourth quarter valued at approximately $50,000. Anchor Investment Management LLC bought a new stake in shares of Group 1 Automotive during the fourth quarter valued at approximately $53,000. Finally, NBC Securities Inc. bought a new stake in shares of Group 1 Automotive during the third quarter valued at approximately $84,000. Institutional investors own 99.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on GPI shares. 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 report on Wednesday, April 17th. Morgan Stanley raised shares of Group 1 Automotive from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $200.00 to $255.00 in a report on Thursday, February 29th. Stephens reissued an “overweight” rating and issued a $330.00 target price on shares of Group 1 Automotive in a report on Tuesday, February 13th. JPMorgan Chase & Co. cut their target price on shares of Group 1 Automotive from $325.00 to $315.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. Finally, StockNews.com lowered shares of Group 1 Automotive from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $331.67.

Group 1 Automotive Stock Up 0.3 %

NYSE GPI opened at $300.46 on Friday. The company has a quick ratio of 0.33, a current ratio of 1.11 and a debt-to-equity ratio of 0.74. The company has a fifty day moving average of $272.31 and a two-hundred day moving average of $274.42. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 7.09, a PEG ratio of 1.51 and a beta of 1.42. Group 1 Automotive, Inc. has a 52 week low of $214.25 and a 52 week high of $310.08.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $9.50 EPS for the quarter, missing the consensus estimate of $10.44 by ($0.94). The firm had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.41 billion. Group 1 Automotive had a return on equity of 22.82% and a net margin of 3.23%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.86 earnings per share. On average, analysts predict that Group 1 Automotive, Inc. will post 39.37 earnings per share for the current year.

Group 1 Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.63%. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, February 29th. Group 1 Automotive’s dividend payout ratio (DPR) is 4.44%.

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.