Allspring Global Investments Holdings LLC Sells 441 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Allspring Global Investments Holdings LLC cut its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 15.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,455 shares of the company’s stock after selling 441 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Asbury Automotive Group were worth $552,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ABG. DekaBank Deutsche Girozentrale bought a new stake in Asbury Automotive Group during the third quarter valued at about $36,000. CWM LLC boosted its holdings in Asbury Automotive Group by 94.0% during the third quarter. CWM LLC now owns 161 shares of the company’s stock valued at $37,000 after acquiring an additional 78 shares during the period. Blue Trust Inc. boosted its holdings in Asbury Automotive Group by 31.2% during the fourth quarter. Blue Trust Inc. now owns 244 shares of the company’s stock valued at $56,000 after acquiring an additional 58 shares during the period. Pathstone Family Office LLC bought a new stake in Asbury Automotive Group during the third quarter valued at about $202,000. Finally, Paulson Wealth Management Inc. boosted its holdings in Asbury Automotive Group by 14.3% during the third quarter. Paulson Wealth Management Inc. now owns 985 shares of the company’s stock valued at $227,000 after acquiring an additional 123 shares during the period.

Insider Activity

In other news, SVP Jed Milstein sold 3,955 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $209.00, for a total transaction of $826,595.00. Following the completion of the transaction, the senior vice president now owns 8,300 shares of the company’s stock, valued at $1,734,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by company insiders.

Asbury Automotive Group Stock Down 2.0 %

Shares of ABG opened at $217.12 on Friday. The company has a 50-day simple moving average of $216.95 and a 200-day simple moving average of $213.22. The firm has a market capitalization of $4.38 billion, a P/E ratio of 7.59 and a beta of 1.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.45 and a current ratio of 1.06. Asbury Automotive Group, Inc. has a 52 week low of $178.40 and a 52 week high of $256.39.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Thursday, February 8th. The company reported $7.12 EPS for the quarter, missing analysts’ consensus estimates of $7.74 by ($0.62). The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.70 billion. Asbury Automotive Group had a net margin of 4.07% and a return on equity of 21.68%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $9.12 EPS. On average, equities research analysts expect that Asbury Automotive Group, Inc. will post 31.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Craig Hallum cut shares of Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 price target for the company. in a report on Thursday, February 8th.

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.