GPI - Group 1 Automotive increases buyback authorization by $144.2M to $200M

Group 1 Automotive's (NYSE:GPI) board has increased the company's common stock share repurchase authorization by $144.2M to $200.0M. During February 2022, subsequent to the fourth quarter 2021 earnings call, the company executed trades to repurchase 107,320 shares at an average price per common share of $172.00, for a total of $18.5 million.  The repurchase of shares will be funded by cash from operations.  The company also announced the disposition of one Honda and one Toyota dealership in the New England area. These stores generated ~$125M in trailing-twelve-month revenues.

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Group 1 Automotive increases buyback authorization by $144.2M to $200M