Asbury Automotive Group, Inc. $ABG Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC lowered its position in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 6.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,023 shares of the company’s stock after selling 70 shares during the quarter. Venturi Wealth Management LLC’s holdings in Asbury Automotive Group were worth $244,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ABG. Caitong International Asset Management Co. Ltd acquired a new stake in Asbury Automotive Group during the first quarter worth approximately $49,000. eCIO Inc. acquired a new stake in Asbury Automotive Group during the first quarter worth approximately $56,000. GAMMA Investing LLC boosted its position in Asbury Automotive Group by 39.2% during the first quarter. GAMMA Investing LLC now owns 586 shares of the company’s stock worth $129,000 after acquiring an additional 165 shares during the last quarter. CWM LLC boosted its position in Asbury Automotive Group by 7.5% during the first quarter. CWM LLC now owns 858 shares of the company’s stock worth $189,000 after acquiring an additional 60 shares during the last quarter. Finally, TD Private Client Wealth LLC acquired a new position in shares of Asbury Automotive Group in the 1st quarter valued at $197,000.

Insider Activity

In related news, SVP Jed Milstein sold 1,132 shares of Asbury Automotive Group stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $253.26, for a total transaction of $286,690.32. Following the sale, the senior vice president owned 11,267 shares of the company’s stock, valued at $2,853,480.42. The trade was a 9.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Maureen F. Morrison sold 800 shares of Asbury Automotive Group stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $255.61, for a total transaction of $204,488.00. Following the sale, the director directly owned 5,824 shares in the company, valued at $1,488,672.64. This trade represents a 12.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,957 shares of company stock worth $745,501. Corporate insiders own 0.59% of the company’s stock.

Analyst Upgrades and Downgrades

ABG has been the topic of a number of research analyst reports. Citigroup reiterated a “neutral” rating on shares of Asbury Automotive Group in a report on Thursday, September 25th. Cfra set a $225.00 price target on shares of Asbury Automotive Group in a report on Tuesday, July 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Asbury Automotive Group in a report on Wednesday. Bank of America decreased their price target on shares of Asbury Automotive Group from $335.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Finally, Morgan Stanley lifted their price target on shares of Asbury Automotive Group from $225.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $249.00.

Asbury Automotive Group Stock Performance

NYSE:ABG opened at $234.47 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 8.56, a PEG ratio of 1.56 and a beta of 0.85. The firm’s fifty day simple moving average is $244.07 and its 200 day simple moving average is $236.11. Asbury Automotive Group, Inc. has a twelve month low of $201.68 and a twelve month high of $312.56.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, July 29th. The company reported $7.43 earnings per share for the quarter, beating the consensus estimate of $6.82 by $0.61. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.44 billion. Asbury Automotive Group had a net margin of 3.13% and a return on equity of 15.41%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.40 EPS. As a group, equities research analysts expect that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Asbury Automotive Group 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.