HOUSTON—Peter C. DeLongchamps, Senior Vice President of Financial Services and Manufacturer Relations at Group 1 Automotive Inc . (NYSE:GPI), recently executed a significant transaction involving the sale of company stock. According to a filing with the Securities and Exchange Commission, DeLongchamps sold 2,587 shares of Group 1 Automotive common stock on November 5, 2024. The shares were sold at a price of $373.41 each, amounting to a total transaction value of approximately $966,011.
Following this sale, DeLongchamps retains ownership of 26,525.25 shares of Group 1 Automotive stock. This transaction was conducted directly by DeLongchamps, as indicated in the filing.
"In other recent news, Group 1 Automotive reported record total revenues of $5.2 billion in Q3, with adjusted net income reaching $133.5 million. The earnings were primarily driven by new and used vehicle sales, contributing $2.6 billion and $1.7 billion respectively. This robust performance marks the first financial reporting period since the company's successful acquisition of Inchcape (OTC:INCPY), which doubled its exposure in the UK and added a significant $2.7 billion to the revenue.
The company also disclosed GAAP and adjusted earnings per share (EPS) of $8.69 and $9.90, respectively. Despite a year-over-year decrease of 9.3%, the company's adjusted EBITDA for the quarter was $246 million, surpassing both Stephens' and the Street's projections.
Stephens maintained its Equal Weight rating on Group 1 Automotive but raised the price target to $402, reflecting the latest earnings data and the implications of the recent acquisition. The firm's financial model forecasts a 3.2% year-over-year decline in EBITDA for Q4 2024, followed by a projected growth of 4.5% in 2025.
These are recent developments in Group 1 Automotive's operations. The company, under CEO Mark Raban, is working towards full integration of Inchcape by the end of 2024, and its liquidity stands at $813 million. Analysts note the company's focus on balancing acquisitions with shareholder returns, indicating a commitment to long-term growth."
InvestingPro Insights
As Peter C. DeLongchamps reduces his stake in Group 1 Automotive Inc. (NYSE:GPI), the company's financial metrics and market performance paint an intriguing picture for investors. According to InvestingPro data, GPI boasts a market capitalization of $5.3 billion and a price-to-earnings ratio of 10.82, suggesting a potentially attractive valuation relative to earnings.
The company's recent performance has been particularly noteworthy. InvestingPro Tips highlight that GPI has seen a significant return over the last week, with data showing a 11.82% price total return. This short-term gain is part of a broader trend, as the stock has demonstrated strong returns over various timeframes, including a 50.58% return over the past year. Currently trading near its 52-week high at 98.65% of that peak, GPI appears to be in a period of robust market performance.
From a fundamental perspective, Group 1 Automotive has maintained dividend payments for 15 consecutive years, with a current dividend yield of 0.46%. This consistency in shareholder returns is complemented by the company's profitability, as analysts predict GPI will remain profitable this year. The company's revenue for the last twelve months stands at an impressive $18.87 billion, with a revenue growth of 8.05% over the same period.
These insights offer a glimpse into GPI's financial health and market position. InvestingPro provides 15 additional tips for Group 1 Automotive, offering investors a more comprehensive analysis to inform their decision-making.
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