Procyon Advisors LLC, an investment firm, has notably increased its investment in Group 1 Automotive, Inc. (NYSE:GPI) by 8.6%. This information was disclosed in the company’s recent 13F filing with the SEC, revealing ownership of 1,009 shares of Group 1 Automotive’s stock, valued at $308,000 at the conclusion of the fourth quarter. The augmented stake reflects the confidence Procyon Advisors LLC has in the future prospects of the automotive company.
In addition, several other significant investors have recently bought and sold shares of Group 1 Automotive. Hsbc Holdings PLC, for example, enlarged its holdings in Group 1 Automotive by 47.5% during the third quarter, now possessing 15,051 shares of the company’s stock valued at $4,082,000. Burney Co. and Covalis Capital LLP have also substantially increased their stakes in the company.
Amidst these developments, Wall Street analysts have presented their growth forecasts for Group 1 Automotive. Stephens, a reputable research firm, has reaffirmed an “overweight” rating on the company’s stock, with a target price of $330.00. However, StockNews.com issued a “hold” rating, while Morgan Stanley raised Group 1 Automotive from an “underweight” rating to an “equal weight” rating, with a price objective adjustment from $200.00 to $255.00.
Furthermore, on the stock market, Group 1 Automotive’s shares have been trading at $292.23 on the New York Stock Exchange (NYSE). The company’s market capitalization is $4.00 billion, with a PE ratio of 6.85 and a beta of 1.42. Despite missing the consensus estimate of $10.44 by ($0.94) in its last earnings report, Group 1 Automotive remains a strong player in the automotive retail industry.
Moreover, the company has announced an increase in its quarterly dividend, from $0.45 to $0.47, indicating a positive outlook on its financial performance. With a dividend yield of 0.64%, Group 1 Automotive is committed to providing value to its shareholders through consistent dividends and sustainable growth strategies.
Group 1 Automotive, Inc. is a prominent player in the automotive retail industry, operating in both the United States and the United Kingdom. The company’s core activities include the sale of new and used cars, light trucks, and vehicle parts, as well as offering related services such as vehicle financing, maintenance, and repair.
For investors interested in tracking the latest movements and developments related to Group 1 Automotive, various resources are available, such as 13F filings and insider trades, which provide valuable insights into the company’s operations. Additionally, subscribing to reliable financial news platforms can help individuals stay informed about the latest news and analysis related to Group 1 Automotive and other similar companies.
In conclusion, the increased stake by Procyon Advisors LLC and other significant investors, coupled with the positive growth forecasts and recent dividend increase, reflect the strong position Group 1 Automotive holds within the automotive retail industry. As the company continues to pursue its strategic initiatives and maintain its financial stability, it remains an interesting prospect for investors seeking opportunities in the automotive sector.