Moon Capital Management Lp Lowers stake in Group 1 Automotive (GPI)

Group 1 Automotive (GPI) : Moon Capital Management Lp reduced its stake in Group 1 Automotive by 65.71% during the most recent quarter end. The investment management company now holds a total of 44,159 shares of Group 1 Automotive which is valued at $2,662,788 after selling 84,614 shares in Group 1 Automotive , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Group 1 Automotive makes up approximately 0.92% of Moon Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Rr Partners Lp reduced its stake in GPI by selling 29,700 shares or 6.35% in the most recent quarter. The Hedge Fund company now holds 438,210 shares of GPI which is valued at $26,424,063. Group 1 Automotive makes up approx 1.07% of Rr Partners Lp’s portfolio. Piermont Capital Management sold out all of its stake in GPI during the most recent quarter. The investment firm sold 39,795 shares of GPI which is valued $2,399,639.Texas Permanent School Fund reduced its stake in GPI by selling 1,817 shares or 10.18% in the most recent quarter. The Hedge Fund company now holds 16,036 shares of GPI which is valued at $966,971. Group 1 Automotive makes up approx 0.01% of Texas Permanent School Fund’s portfolio. Convergence Investment Partners added GPI to its portfolio by purchasing 11,613 company shares during the most recent quarter which is valued at $700,264. Group 1 Automotive makes up approx 0.09% of Convergence Investment Partners’s portfolio.Nordea Investment Management Ab boosted its stake in GPI in the latest quarter, The investment management firm added 7,521 additional shares and now holds a total of 42,492 shares of Group 1 Automotive which is valued at $2,530,824. Group 1 Automotive makes up approx 0.01% of Nordea Investment Management Ab’s portfolio.

Group 1 Automotive opened for trading at $59.21 and hit $59.96 on the upside on Thursday, eventually ending the session at $59.7, with a gain of 0.61% or 0.36 points. The heightened volatility saw the trading volume jump to 2,92,781 shares. Company has a market cap of $1,275 M.

On the company’s financial health, Group 1 Automotive reported $2.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $2.09. The company had revenue of $2782.40 million for the quarter, compared to analysts expectations of $2896.14 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 EPS.

Many Wall Street Analysts have commented on Group 1 Automotive. Group 1 Automotive was Initiated by Seaport Global Securities to “Neutral” on Aug 9, 2016. Group 1 Automotive was Upgraded by Buckingham Research to ” Buy” on Jul 20, 2016.

Group 1 Automotive Inc. is an operator in the automotive retail industry. The Company 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. The Company operates through three segments: the U.S. which includes the activities of its corporate office the U.K. and Brazil. As of September30 2015 the Company owned and operated approximately 162 automotive dealerships approximately 212 franchises and approximately 37 collision centers in the United States and the United Kingdom and Brazil offer approximately 34 brands of automobiles. In addition the Company operates in international regions including the United Kingdom and Brazil. As of February 4 2016 the Company had approximately 29 dealerships in the United Kingdom. As of September30 2015 the Company had approximately 19 dealerships in Brazil. .

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