Ricky Sandler's hedge fund Eminence Capital has filed a 13G with the SEC regarding Group 1 Automotive (GPI). Per the filing, Eminence has revealed a 5.4% ownership stake in GPI with 1,312,745 shares.
This marks a 77% increase in the number of shares they own since the end of the second quarter. The SEC filing was required due to portfolio activity on October 4th.
Eminence has been involved in other auto-related names and we've highlighted Sandler's position in Sonic Automotive recently as well.
Per Google Finance, Sonic Automotive is "an operator in the automotive retailing industry. Through its operating subsidiaries, it markets and sells a range of automotive products and services, including new and used cars and light trucks; arrange related vehicle financing; service and insurance contracts; provide automotive maintenance and repair services, and sell vehicle part. In June 2013, Group 1 Automotive Inc acquired Rountree Ford Lincoln. In October 2013, the Company acquired Joe Marina Honda in Tulsa, Oklahoma."
Wednesday, October 16, 2013
Eminence Capital Adds to Group 1 Automotive Position
blog comments powered by Disqus
