Rhumbline Advisers grew its holdings in shares of Asbury Automotive Group (NYSE:ABG) by 12.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,008 shares of the company’s stock after purchasing an additional 5,372 shares during the quarter. Rhumbline Advisers owned approximately 0.23% of Asbury Automotive Group worth $3,073,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arizona State Retirement System boosted its stake in Asbury Automotive Group by 224.6% during the 4th quarter. Arizona State Retirement System now owns 31,165 shares of the company’s stock worth $1,995,000 after purchasing an additional 21,565 shares during the last quarter. Pinebridge Investments L.P. boosted its position in shares of Asbury Automotive Group by 47.8% during the 4th quarter. Pinebridge Investments L.P. now owns 32,202 shares of the company’s stock valued at $2,060,000 after acquiring an additional 10,419 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Asbury Automotive Group by 37.2% during the 4th quarter. Wells Fargo & Company MN now owns 34,637 shares of the company’s stock valued at $2,217,000 after acquiring an additional 9,396 shares during the last quarter. Balter Liquid Alternatives LLC acquired a new position in shares of Asbury Automotive Group during the 4th quarter valued at about $200,000. Finally, California Public Employees Retirement System boosted its position in shares of Asbury Automotive Group by 3.9% during the 4th quarter. California Public Employees Retirement System now owns 90,327 shares of the company’s stock valued at $5,781,000 after acquiring an additional 3,353 shares during the last quarter.
Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Asbury Automotive Group from a “hold” rating to a “strong-buy” rating and set a $78.00 price target on the stock in a research report on Friday, February 9th. Morgan Stanley boosted their price target on shares of Asbury Automotive Group from $53.00 to $63.00 and gave the company an “underweight” rating in a research report on Wednesday, March 14th. Finally, Craig Hallum boosted their price target on shares of Asbury Automotive Group from $55.00 to $67.00 and gave the company a “hold” rating in a research report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $65.40.
In related news, Director Juanita T. James sold 1,000 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $66.18, for a total value of $66,180.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Craig T. Monaghan sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $68.57, for a total transaction of $1,028,550.00. Following the completion of the sale, the director now owns 86,112 shares in the company, valued at $5,904,699.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,825 shares of company stock worth $3,488,688. 1.90% of the stock is owned by insiders.
Shares of ABG stock traded down $1.30 on Friday, hitting $66.50. 275,892 shares of the stock traded hands, compared to its average volume of 180,589. The stock has a market cap of $1,417.92, a price-to-earnings ratio of 10.34, a PEG ratio of 0.84 and a beta of 1.55. Asbury Automotive Group has a twelve month low of $49.10 and a twelve month high of $76.40. The company has a current ratio of 1.23, a quick ratio of 0.45 and a debt-to-equity ratio of 2.19.
Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.68 billion. Asbury Automotive Group had a net margin of 2.15% and a return on equity of 39.80%. Asbury Automotive Group’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.56 EPS. equities research analysts predict that Asbury Automotive Group will post 7.52 EPS for the current year.
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Asbury Automotive Group Company Profile
Asbury Automotive Group, Inc 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, replacement parts, and collision repair services. The company also provides finance and insurance products, including arranging vehicle financing through third parties; and aftermarket products, such as extended service contracts, guaranteed asset protection insurance, prepaid maintenance, and credit life and disability insurance.
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