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

SG Americas Securities LLC decreased its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 789 shares of the company’s stock after selling 75 shares during the period. SG Americas Securities LLC’s holdings in Asbury Automotive Group were worth $188,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Asbury Automotive Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,319,293 shares of the company’s stock worth $521,771,000 after purchasing an additional 10,656 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Asbury Automotive Group by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock worth $240,818,000 after acquiring an additional 69,975 shares during the last quarter. Eminence Capital LP lifted its position in Asbury Automotive Group by 41.5% in the 2nd quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock valued at $113,603,000 after purchasing an additional 146,246 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Asbury Automotive Group by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 197,765 shares of the company’s stock valued at $45,065,000 after purchasing an additional 7,754 shares during the period. Finally, Magnolia Group LLC increased its stake in shares of Asbury Automotive Group by 7.8% in the second quarter. Magnolia Group LLC now owns 110,000 shares of the company’s stock valued at $25,066,000 after purchasing an additional 8,000 shares during the period.

Wall Street Analyst Weigh In

ABG has been the subject of several research analyst reports. Stephens initiated coverage on shares of Asbury Automotive Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $216.00 price objective for the company. Morgan Stanley upgraded Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $190.00 to $240.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their price target on Asbury Automotive Group from $230.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. StockNews.com lowered Asbury Automotive Group from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Finally, Bank of America lowered their target price on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $251.20.

Asbury Automotive Group Price Performance

Shares of NYSE:ABG opened at $229.69 on Thursday. The company has a market capitalization of $4.63 billion, a PE ratio of 8.37 and a beta of 1.16. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.45 and a current ratio of 1.25. The stock has a fifty day moving average of $230.16 and a 200-day moving average of $231.24. Asbury Automotive Group, Inc. has a one year low of $178.40 and a one year high of $277.13.

Asbury Automotive Group (NYSE:ABG) last announced its earnings results on Friday, August 2nd. The company reported $6.40 EPS for the quarter, missing the consensus estimate of $7.31 by ($0.91). The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.31 billion. Asbury Automotive Group had a net margin of 2.51% and a return on equity of 17.93%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the company earned $8.95 earnings per share. As a group, equities analysts anticipate that Asbury Automotive Group, Inc. will post 26.01 EPS for the current fiscal year.

Insider Transactions at Asbury Automotive Group

In related news, CEO David W. Hult sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $227.18, for a total value of $113,590.00. Following the completion of the transaction, the chief executive officer now owns 56,834 shares of the company’s stock, valued at approximately $12,911,548.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO David W. Hult sold 500 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $227.18, for a total transaction of $113,590.00. Following the transaction, the chief executive officer now directly owns 56,834 shares of the company’s stock, valued at approximately $12,911,548.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Impactive Capital Lp sold 8,353 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $225.63, for a total value of $1,884,687.39. Following the sale, the insider now owns 2,008,649 shares of the company’s stock, valued at $453,211,473.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

About Asbury Automotive Group

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.