Bank of New York Mellon Corp reduced its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 265,003 shares of the company’s stock after selling 11,052 shares during the quarter. Bank of New York Mellon Corp owned 1.27% of Asbury Automotive Group worth $16,192,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Asbury Automotive Group by 6.2% during the 2nd quarter. BlackRock Inc. now owns 2,671,470 shares of the company’s stock worth $151,072,000 after acquiring an additional 156,996 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Asbury Automotive Group by 3.5% in the second quarter. Vanguard Group Inc. now owns 1,840,061 shares of the company’s stock worth $104,055,000 after buying an additional 62,905 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Asbury Automotive Group by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 820,577 shares of the company’s stock worth $46,403,000 after buying an additional 33,383 shares during the period. State Street Corp boosted its position in shares of Asbury Automotive Group by 4.4% in the second quarter. State Street Corp now owns 592,006 shares of the company’s stock worth $33,477,000 after buying an additional 24,719 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Asbury Automotive Group by 6.5% in the second quarter. Goldman Sachs Group Inc. now owns 546,985 shares of the company’s stock worth $30,932,000 after buying an additional 33,194 shares during the period.
In related news, Director Joel Alsfine sold 200,000 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $62.00, for a total value of $12,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Craig T. Monaghan sold 16,096 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $61.08, for a total transaction of $983,143.68. Following the completion of the sale, the chief executive officer now owns 125,408 shares of the company’s stock, valued at approximately $7,659,920.64. The disclosure for this sale can be found here. Insiders sold a total of 265,884 shares of company stock valued at $16,426,020 in the last 90 days. 11.90% of the stock is currently owned by corporate insiders.
Shares of Asbury Automotive Group, Inc. (NYSE ABG) traded up $3.55 on Thursday, hitting $74.65. The stock had a trading volume of 238,864 shares, compared to its average volume of 272,820. The firm has a market cap of $1,550.00, a P/E ratio of 9.69, a P/E/G ratio of 1.16 and a beta of 1.56. The company has a quick ratio of 0.38, a current ratio of 1.25 and a debt-to-equity ratio of 2.60. Asbury Automotive Group, Inc. has a fifty-two week low of $49.10 and a fifty-two week high of $74.70.
Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.09). Asbury Automotive Group had a return on equity of 42.24% and a net margin of 2.54%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm earned $1.52 EPS. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 6.25 EPS for the current fiscal year.
A number of research firms recently issued reports on ABG. TheStreet raised Asbury Automotive Group from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. Zacks Investment Research upgraded Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Jefferies Group restated a “hold” rating and set a $61.00 price target on shares of Asbury Automotive Group in a research note on Thursday, October 12th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Asbury Automotive Group has a consensus rating of “Hold” and a consensus price target of $56.75.
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Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc is an automotive retailer in the United States. As of December 31, 2016, the Company owned and operated 93 new vehicle franchises, representing 28 brands of automobiles at 77 dealership locations, and 23 collision centers in the United States. In addition, as of December 31, 2016, it owned and operated two standalone used vehicle stores in Florida.
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