Maryland State Retirement & Pension System Sells 99 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Maryland State Retirement & Pension System lowered its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,479 shares of the company’s stock after selling 99 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Asbury Automotive Group were worth $1,683,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ABG. DekaBank Deutsche Girozentrale bought a new stake in Asbury Automotive Group in the third quarter worth approximately $36,000. GAMMA Investing LLC bought a new stake in Asbury Automotive Group in the 4th quarter valued at about $48,000. Blue Trust Inc. grew its stake in Asbury Automotive Group by 31.2% in the fourth quarter. Blue Trust Inc. now owns 244 shares of the company’s stock valued at $56,000 after acquiring an additional 58 shares during the period. Pathstone Family Office LLC bought a new position in shares of Asbury Automotive Group in the third quarter valued at $202,000. Finally, Paulson Wealth Management Inc. increased its position in shares of Asbury Automotive Group by 14.3% during the third quarter. Paulson Wealth Management Inc. now owns 985 shares of the company’s stock worth $227,000 after acquiring an additional 123 shares in the last quarter.

Asbury Automotive Group Price Performance

Shares of Asbury Automotive Group stock traded up $1.42 on Wednesday, hitting $220.72. 9,969 shares of the company traded hands, compared to its average volume of 165,844. The firm’s 50-day simple moving average is $217.36 and its 200 day simple moving average is $213.33. Asbury Automotive Group, Inc. has a 12-month low of $178.40 and a 12-month high of $256.39. The company has a current ratio of 1.06, a quick ratio of 0.38 and a debt-to-equity ratio of 0.93. The company has a market cap of $4.45 billion, a P/E ratio of 8.00 and a beta of 1.19.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Thursday, April 25th. The company reported $7.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.76 by ($0.55). Asbury Automotive Group had a return on equity of 20.12% and a net margin of 3.68%. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the prior year, the company earned $8.37 EPS. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. Analysts expect that Asbury Automotive Group, Inc. will post 30.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the company. JPMorgan Chase & Co. decreased their price objective on Asbury Automotive Group from $235.00 to $230.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Craig Hallum cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 price target on the stock. in a report on Thursday, February 8th.

Insider Activity at Asbury Automotive Group

In other Asbury Automotive Group news, SVP Jed Milstein sold 3,955 shares of Asbury Automotive Group stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $209.00, for a total value of $826,595.00. Following the transaction, the senior vice president now directly owns 8,300 shares of the company’s stock, valued at approximately $1,734,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

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.