Algert Global LLC Buys Shares of 3,740 Asbury Automotive Group, Inc. (NYSE:ABG)

Algert Global LLC purchased a new position in Asbury Automotive Group, Inc. (NYSE:ABG) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 3,740 shares of the company’s stock, valued at approximately $909,000.

Several other hedge funds also recently made changes to their positions in the stock. Barclays PLC grew its holdings in Asbury Automotive Group by 94.9% during the 3rd quarter. Barclays PLC now owns 38,644 shares of the company’s stock valued at $9,220,000 after buying an additional 18,821 shares in the last quarter. Argent Capital Management LLC grew its stake in Asbury Automotive Group by 16.3% during the fourth quarter. Argent Capital Management LLC now owns 15,451 shares of the company’s stock valued at $3,755,000 after acquiring an additional 2,164 shares in the last quarter. Empirical Asset Management LLC bought a new stake in Asbury Automotive Group during the 4th quarter worth approximately $484,000. Nisa Investment Advisors LLC lifted its stake in Asbury Automotive Group by 17.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 839 shares of the company’s stock worth $204,000 after purchasing an additional 123 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Asbury Automotive Group by 5.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,548 shares of the company’s stock valued at $862,000 after purchasing an additional 179 shares during the period.

Analysts Set New Price Targets

ABG has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Stephens upped their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Citigroup initiated coverage on shares of Asbury Automotive Group in a research report on Wednesday, April 23rd. They set a “neutral” rating and a $236.00 target price for the company. Finally, Craig Hallum lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Asbury Automotive Group currently has an average rating of “Hold” and an average price target of $258.50.

Insider Buying and Selling

In other news, COO Daniel Clara sold 1,217 shares of Asbury Automotive Group stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total value of $361,010.88. Following the sale, the chief operating officer now directly owns 3,747 shares in the company, valued at approximately $1,111,510.08. This trade represents a 24.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

Asbury Automotive Group Price Performance

Shares of Asbury Automotive Group stock opened at $224.99 on Friday. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 10.46 and a beta of 0.98. The company has a fifty day moving average of $227.50 and a 200-day moving average of $248.90. Asbury Automotive Group, Inc. has a 52-week low of $201.68 and a 52-week high of $312.56. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 1.20.

Asbury Automotive Group (NYSE:ABG) last released its earnings results on Tuesday, April 29th. The company reported $6.82 earnings per share for the quarter, missing analysts’ consensus estimates of $6.84 by ($0.02). Asbury Automotive Group had a net margin of 2.50% and a return on equity of 16.29%. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period last year, the firm posted $7.21 EPS. The company’s revenue was down 1.3% on a year-over-year basis. Equities research analysts expect that Asbury Automotive Group, Inc. will post 26.28 EPS for the current year.

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.