Asbury Automotive Group, Inc. (ABG) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 42.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,287 shares of the company’s stock after selling 24,880 shares during the quarter. SG Americas Securities LLC’s holdings in Asbury Automotive Group were worth $2,286,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Asbury Automotive Group by 8.1% during the 3rd quarter. BlackRock Inc. now owns 3,342,070 shares of the company’s stock worth $229,768,000 after purchasing an additional 250,741 shares in the last quarter. Vanguard Group Inc. increased its position in Asbury Automotive Group by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,021,921 shares of the company’s stock valued at $139,007,000 after acquiring an additional 38,717 shares during the period. Vanguard Group Inc increased its position in Asbury Automotive Group by 2.0% in the 3rd quarter. Vanguard Group Inc now owns 2,021,921 shares of the company’s stock valued at $139,007,000 after acquiring an additional 38,717 shares during the period. Abrams Capital Management L.P. increased its position in Asbury Automotive Group by 46.1% in the 3rd quarter. Abrams Capital Management L.P. now owns 1,585,091 shares of the company’s stock valued at $108,975,000 after acquiring an additional 500,000 shares during the period. Finally, Victory Capital Management Inc. increased its position in Asbury Automotive Group by 184.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,088,633 shares of the company’s stock valued at $74,843,000 after acquiring an additional 705,871 shares during the period.

Shares of NYSE ABG opened at $69.02 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 1.21 and a debt-to-equity ratio of 1.77. Asbury Automotive Group, Inc. has a 52-week low of $58.60 and a 52-week high of $77.75. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 0.58 and a beta of 1.19.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings results on Wednesday, February 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.13. Asbury Automotive Group had a net margin of 2.44% and a return on equity of 37.81%. The firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company posted $1.81 EPS. The company’s revenue was up 6.8% on a year-over-year basis. As a group, research analysts expect that Asbury Automotive Group, Inc. will post 8.63 earnings per share for the current year.

Several brokerages have issued reports on ABG. Zacks Investment Research upgraded shares of Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research report on Wednesday, February 6th. Morgan Stanley upped their price target on shares of Asbury Automotive Group from $71.00 to $81.00 and gave the company a “sell” rating in a research report on Wednesday, November 14th. Finally, SunTrust Banks decreased their price target on shares of Asbury Automotive Group to $70.00 and set a “hold” rating for the company in a research report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $76.50.

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Asbury Automotive Group 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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Institutional Ownership by Quarter for Asbury Automotive Group (NYSE:ABG)

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