Stoneridge Investment Partners LLC lowered its position in Asbury Automotive Group Inc. (NYSE:ABG) by 25.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,896 shares of the company’s stock after selling 9,229 shares during the period. Stoneridge Investment Partners LLC’s holdings in Asbury Automotive Group were worth $1,418,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. TimesSquare Capital Management LLC boosted its position in shares of Asbury Automotive Group by 3.9% in the first quarter. TimesSquare Capital Management LLC now owns 748,200 shares of the company’s stock valued at $44,772,000 after buying an additional 27,850 shares during the period. Acrospire Investment Management LLC bought a new position in shares of Asbury Automotive Group during the first quarter valued at about $108,000. JPMorgan Chase & Co. boosted its position in shares of Asbury Automotive Group by 76.0% in the first quarter. JPMorgan Chase & Co. now owns 44,294 shares of the company’s stock valued at $2,651,000 after buying an additional 19,123 shares during the period. BlackRock Fund Advisors boosted its position in shares of Asbury Automotive Group by 143.7% in the first quarter. BlackRock Fund Advisors now owns 1,575,486 shares of the company’s stock valued at $94,277,000 after buying an additional 929,111 shares during the period. Finally, BlackRock Group LTD raised its stake in shares of Asbury Automotive Group by 138.5% in the first quarter. BlackRock Group LTD now owns 43,259 shares of the company’s stock worth $2,589,000 after buying an additional 25,119 shares in the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.
Shares of Asbury Automotive Group Inc. (NYSE:ABG) traded up 3.68% during midday trading on Thursday, hitting $55.20. The stock had a trading volume of 180,927 shares. The firm has a 50 day moving average of $54.64 and a 200-day moving average of $56.44. Asbury Automotive Group Inc. has a one year low of $43.56 and a one year high of $87.63. The company has a market cap of $1.22 billion, a P/E ratio of 8.41 and a beta of 1.26.
Asbury Automotive Group (NYSE:ABG) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.65 EPS for the quarter, hitting the consensus estimate of $1.65. Asbury Automotive Group had a net margin of 2.45% and a return on equity of 51.29%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company posted $1.52 earnings per share. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, analysts forecast that Asbury Automotive Group Inc. will post $6.11 earnings per share for the current fiscal year.
ABG has been the topic of a number of analyst reports. Zacks Investment Research lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. TheStreet raised Asbury Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, July 25th. Finally, Wolfe Research initiated coverage on Asbury Automotive Group in a report on Tuesday, September 13th. They issued a “market perform” rating on the stock. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $71.00.
In related news, CFO Keith Style sold 5,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $61.11, for a total transaction of $305,550.00. Following the sale, the chief financial officer now owns 26,642 shares in the company, valued at $1,628,092.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Craig T. Monaghan sold 27,000 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $57.92, for a total transaction of $1,563,840.00. Following the sale, the chief executive officer now owns 125,519 shares in the company, valued at approximately $7,270,060.48. The disclosure for this sale can be found here. Corporate insiders own 10.90% of the company’s stock.
Asbury Automotive Group Company Profile
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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