In a recent transaction, Daniel J. McHenry, the Senior Vice President and Chief Financial Officer of Group 1 Automotive Inc . (NYSE:GPI), sold 2,437 shares of the company's common stock. The total value of the shares sold exceeded $750,000, with the transaction occurring on May 21, 2024.
The sale was executed at a weighted average price of $309.61 per share, with individual sales prices ranging from $309.39 to $310.10. This information was detailed in a footnote of the report, committing McHenry to provide further details about the specific number of shares sold at each price point upon request.
Following the sale, McHenry's remaining direct ownership in the company stands at 22,430.3943 shares. It is noted that his holdings include shares purchased under the Group 1 Automotive, Inc. Employee Stock Purchase Plan, which offers a 15% discount based on the stock's closing price at specific times during the quarter.
The reported sale represents a significant transaction for McHenry and provides investors with insights into the financial moves of Group 1 Automotive's management. The stock transactions of company insiders are often closely watched by investors seeking to understand the confidence and expectations that leadership has in the company's future performance.
InvestingPro Insights
As Group 1 Automotive Inc. (NYSE:GPI) witnesses significant transactions from its executives, investors closely monitor the company's financial health and future prospects. In light of the recent insider sale by Daniel J. McHenry, the Senior Vice President and Chief Financial Officer, here are some key metrics and insights from InvestingPro that could help investors make more informed decisions:
InvestingPro Data:
- The company has demonstrated a commitment to shareholder returns, having raised its dividend for the past three consecutive years.
- With analysts revising their earnings upwards for the upcoming period, there is a positive sentiment around the company's financial outlook.
- Group 1 Automotive is trading at a low earnings multiple, indicating potential value for investors seeking entry points.
InvestingPro Tips:
- Despite concerns regarding gross profit margins, Group 1 Automotive has maintained dividend payments for 15 consecutive years, showcasing a stable return to shareholders.
- Analysts predict the company will maintain profitability this year, which is supported by its profitable performance over the last twelve months.
For investors looking to delve deeper into Group 1 Automotive's performance and potential, there are additional InvestingPro Tips available that could provide further insights into the company's long-term return profile, including its strong performance over the last five years and high return over the last decade. To access these tips and more, visit https://www.investing.com/pro/GPI and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With a total of 9 additional tips listed in InvestingPro, investors can gain a comprehensive understanding of Group 1 Automotive's financial dynamics.
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