MetLife Investment Advisors LLC grew its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 100.0% in the first quarter, Holdings Channel reports. The fund owned 18,058 shares of the company’s stock after buying an additional 9,029 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Asbury Automotive Group were worth $1,219,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of ABG. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Asbury Automotive Group during the 4th quarter valued at about $102,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Asbury Automotive Group during the 1st quarter valued at about $251,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Asbury Automotive Group during the 1st quarter valued at about $259,000. Koch Industries Inc. increased its stake in shares of Asbury Automotive Group by 29.5% during the 4th quarter. Koch Industries Inc. now owns 5,200 shares of the company’s stock valued at $333,000 after acquiring an additional 1,184 shares during the last quarter. Finally, Ellington Management Group LLC acquired a new position in shares of Asbury Automotive Group during the 4th quarter valued at about $333,000.
A number of research analysts have recently commented on ABG shares. Zacks Investment Research downgraded shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Morgan Stanley upped their price objective on shares of Asbury Automotive Group from $53.00 to $63.00 and gave the company an “underweight” rating in a research note on Wednesday, March 14th. Buckingham Research upped their price objective on shares of Asbury Automotive Group from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, April 25th. Finally, ValuEngine downgraded shares of Asbury Automotive Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $67.33.
In related news, Director Thomas C. Deloach, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $73.51, for a total transaction of $1,102,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP George A. Villasana sold 13,263 shares of the stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $73.38, for a total transaction of $973,238.94. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
ABG opened at $74.80 on Monday. The company has a market cap of $1.54 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.54. Asbury Automotive Group, Inc. has a 1 year low of $49.10 and a 1 year high of $76.50. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.20 and a quick ratio of 0.38.
Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, April 24th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.83 by $0.10. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.58 billion. Asbury Automotive Group had a net margin of 2.23% and a return on equity of 38.22%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 EPS. analysts expect that Asbury Automotive Group, Inc. will post 7.81 earnings per share for the current year.
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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