Dynamic Technology Lab Private Ltd Buys 2,190 Shares of Asbury Automotive Group, Inc. $ABG

Dynamic Technology Lab Private Ltd boosted its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 51.7% during the second quarter, Holdings Channel.com reports. The fund owned 6,430 shares of the company’s stock after acquiring an additional 2,190 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Asbury Automotive Group were worth $1,534,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its holdings in shares of Asbury Automotive Group by 49.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 278,760 shares of the company’s stock worth $61,561,000 after purchasing an additional 91,767 shares in the last quarter. Nuveen LLC bought a new stake in Asbury Automotive Group during the first quarter worth about $17,922,000. Epoch Investment Partners Inc. lifted its position in Asbury Automotive Group by 1,056.7% during the first quarter. Epoch Investment Partners Inc. now owns 86,756 shares of the company’s stock worth $19,159,000 after purchasing an additional 79,256 shares during the period. Voss Capital LP grew its stake in Asbury Automotive Group by 43.7% during the first quarter. Voss Capital LP now owns 169,111 shares of the company’s stock worth $37,346,000 after buying an additional 51,411 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in Asbury Automotive Group during the first quarter worth about $8,354,000.

Analyst Ratings Changes

Several brokerages have recently commented on ABG. Stephens upgraded shares of Asbury Automotive Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $225.00 to $277.00 in a research report on Wednesday, August 13th. Zacks Research cut shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Barclays initiated coverage on shares of Asbury Automotive Group in a research report on Tuesday, November 11th. They set an “equal weight” rating and a $275.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Asbury Automotive Group from $230.00 to $235.00 and gave the company an “underweight” rating in a report on Wednesday, November 5th. Finally, Bank of America decreased their price target on Asbury Automotive Group from $335.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Asbury Automotive Group presently has a consensus rating of “Hold” and a consensus target price of $254.00.

Asbury Automotive Group Price Performance

ABG stock opened at $210.98 on Friday. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 7.39, a P/E/G ratio of 1.39 and a beta of 0.87. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.99 and a quick ratio of 0.30. The company has a 50 day simple moving average of $237.58 and a 200 day simple moving average of $238.58. Asbury Automotive Group, Inc. has a 1 year low of $201.68 and a 1 year high of $312.56.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, October 28th. The company reported $7.17 earnings per share for the quarter, beating analysts’ consensus estimates of $6.80 by $0.37. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.84 billion. Asbury Automotive Group had a net margin of 3.15% and a return on equity of 15.26%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $6.35 earnings per share. Research analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Asbury Automotive Group news, Director Maureen F. Morrison sold 800 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $255.61, for a total value of $204,488.00. Following the completion of the transaction, the director owned 5,824 shares of the company’s stock, valued at $1,488,672.64. This represents a 12.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.59% of the stock is owned by corporate 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.