Asbury Automotive Group, Inc. (NYSE:ABG) Shares Sold by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC reduced its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 6.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,000 shares of the company’s stock after selling 500 shares during the period. Asbury Automotive Group accounts for about 1.9% of ABS Direct Equity Fund LLC’s investment portfolio, making the stock its 21st largest position. ABS Direct Equity Fund LLC’s holdings in Asbury Automotive Group were worth $1,670,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Asbury Automotive Group during the third quarter valued at approximately $31,000. Quarry LP purchased a new position in shares of Asbury Automotive Group during the 2nd quarter worth $38,000. GAMMA Investing LLC boosted its holdings in shares of Asbury Automotive Group by 34.6% during the third quarter. GAMMA Investing LLC now owns 393 shares of the company’s stock worth $94,000 after purchasing an additional 101 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Asbury Automotive Group in the second quarter valued at $155,000. Finally, Headlands Technologies LLC acquired a new position in Asbury Automotive Group in the second quarter valued at $190,000.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley raised Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price objective on shares of Asbury Automotive Group from $265.00 to $260.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Bank of America cut their target price on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. StockNews.com raised Asbury Automotive Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Seaport Res Ptn lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $256.20.

Asbury Automotive Group Stock Down 0.5 %

Shares of Asbury Automotive Group stock opened at $257.74 on Tuesday. The company has a fifty day moving average price of $244.12 and a 200 day moving average price of $237.91. The company has a current ratio of 1.20, a quick ratio of 0.41 and a debt-to-equity ratio of 0.98. Asbury Automotive Group, Inc. has a twelve month low of $195.09 and a twelve month high of $277.13. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of 14.59 and a beta of 1.18.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. Asbury Automotive Group’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the business posted $8.12 EPS. Equities research analysts forecast that Asbury Automotive Group, Inc. will post 25.17 earnings per share for the current fiscal year.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc, together with its subsidiaries, operates as an automotive retailer in the United States. It offers a range of automotive products and services, including new and used vehicles; and vehicle repair and maintenance services, replacement parts, and collision repair services.