Ameriprise Financial Inc. decreased its position in shares of Asbury Automotive Group Inc. (NYSE:ABG) by 5.7% during the second quarter, Holdings Channel reports. The institutional investor owned 121,686 shares of the company’s stock after selling 7,301 shares during the period. Ameriprise Financial Inc. owned about 0.55% of Asbury Automotive Group worth $6,418,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABG. Acrospire Investment Management LLC bought a new position in Asbury Automotive Group during the first quarter worth about $108,000. Fuller & Thaler Asset Management Inc. bought a new position in Asbury Automotive Group during the second quarter worth about $105,000. Huntington National Bank raised its position in Asbury Automotive Group by 224.6% in the second quarter. Huntington National Bank now owns 2,259 shares of the company’s stock worth $119,000 after buying an additional 1,563 shares in the last quarter. BlackRock Inc. raised its position in Asbury Automotive Group by 198.6% in the first quarter. BlackRock Inc. now owns 2,789 shares of the company’s stock worth $166,000 after buying an additional 1,855 shares in the last quarter. Finally, Riverhead Capital Management LLC bought a new position in Asbury Automotive Group during the first quarter worth about $168,000.
Asbury Automotive Group Inc. (NYSE:ABG) traded up 0.46% during mid-day trading on Tuesday, hitting $54.80. The stock had a trading volume of 39,833 shares. The stock has a 50 day moving average of $54.34 and a 200-day moving average of $55.99. Asbury Automotive Group Inc. has a 1-year low of $43.56 and a 1-year high of $87.63. The firm has a market cap of $1.21 billion, a P/E ratio of 8.35 and a beta of 1.20.
Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.65 EPS for the quarter, meeting the consensus estimate of $1.65. The firm earned $1.63 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Asbury Automotive Group had a return on equity of 51.29% and a net margin of 2.45%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 EPS. Analysts predict that Asbury Automotive Group Inc. will post $6.11 EPS for the current fiscal year.
A number of research analysts have issued reports on ABG shares. Zacks Investment Research upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Tuesday, September 27th. TheStreet upgraded Asbury Automotive Group from a “hold” rating to a “buy” rating in a research report on Monday, July 25th. Finally, Wolfe Research started coverage on Asbury Automotive Group in a research report on Tuesday, September 13th. They set a “market perform” rating for the company. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $70.75.
In other Asbury Automotive Group news, CEO Craig T. Monaghan sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $57.92, for a total value of $1,563,840.00. Following the completion of the transaction, the chief executive officer now owns 125,519 shares of the company’s stock, valued at approximately $7,270,060.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP George A. Villasana sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $60.36, for a total value of $603,600.00. Following the completion of the transaction, the senior vice president now directly owns 22,238 shares of the company’s stock, valued at approximately $1,342,285.68. The disclosure for this sale can be found here. 10.90% of the stock is owned by company insiders.
About Asbury Automotive Group
Asbury Automotive Group, Inc is an automotive retailer in the United States. The Company offers a range of automotive products and services, including new vehicles; used vehicles; parts and service, including vehicle repair and maintenance services, replacement parts, and collision repair services, and finance and insurance, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection (GAP) insurance, prepaid maintenance, and credit life and disability insurance.
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