Lazard Asset Management LLC Sells 4,532 Shares of Asbury Automotive Group, Inc. $ABG

Lazard Asset Management LLC trimmed its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 69.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,973 shares of the company’s stock after selling 4,532 shares during the quarter. Lazard Asset Management LLC’s holdings in Asbury Automotive Group were worth $386,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bogart Wealth LLC raised its holdings in shares of Asbury Automotive Group by 52.4% during the fourth quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock valued at $30,000 after acquiring an additional 44 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Asbury Automotive Group by 0.4% in the fourth quarter. State of Alaska Department of Revenue now owns 10,983 shares of the company’s stock valued at $2,553,000 after acquiring an additional 47 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Asbury Automotive Group by 2.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,937 shares of the company’s stock worth $450,000 after acquiring an additional 50 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Asbury Automotive Group by 69.2% in the second quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock worth $31,000 after acquiring an additional 54 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Asbury Automotive Group by 1.8% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,130 shares of the company’s stock worth $731,000 after purchasing an additional 54 shares in the last quarter.

Insider Buying and Selling at Asbury Automotive Group

In other news, SVP Jed Milstein sold 948 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $250.28, for a total transaction of $237,265.44. Following the transaction, the senior vice president owned 11,259 shares of the company’s stock, valued at approximately $2,817,902.52. The trade was a 7.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director B. Christopher Disantis acquired 157 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $182.31 per share, with a total value of $28,622.67. Following the acquisition, the director directly owned 6,400 shares of the company’s stock, valued at $1,166,784. This trade represents a 2.51% increase in their position. The SEC filing for this purchase provides additional information. 0.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ABG has been the topic of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Asbury Automotive Group in a report on Friday, July 24th. Morgan Stanley upped their target price on shares of Asbury Automotive Group from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Friday. Barclays increased their target price on shares of Asbury Automotive Group from $225.00 to $265.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. decreased their price target on shares of Asbury Automotive Group from $220.00 to $190.00 and set an “underweight” rating on the stock in a research note on Tuesday. Finally, Citigroup boosted their price target on shares of Asbury Automotive Group from $212.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $246.71.

Asbury Automotive Group Stock Performance

Shares of Asbury Automotive Group stock opened at $214.36 on Friday. Asbury Automotive Group, Inc. has a one year low of $172.01 and a one year high of $263.38. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 0.84 and a beta of 0.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.29 and a current ratio of 0.91. The business’s 50 day moving average price is $209.13 and its 200 day moving average price is $208.52.

Asbury Automotive Group (NYSE:ABG) last issued its earnings results on Tuesday, July 28th. The company reported $6.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.31 by $0.51. Asbury Automotive Group had a return on equity of 12.72% and a net margin of 2.83%.The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the prior year, the business earned $7.43 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, research analysts predict that Asbury Automotive Group, Inc. will post 26.03 EPS for the current year.

About Asbury Automotive Group

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.