Asbury Automotive Group, Inc. (NYSE:ABG) Position Boosted by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 50.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,088 shares of the company’s stock after purchasing an additional 704 shares during the period. Mackenzie Financial Corp’s holdings in Asbury Automotive Group were worth $470,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. CWM LLC grew its position in Asbury Automotive Group by 94.0% in the third quarter. CWM LLC now owns 161 shares of the company’s stock worth $37,000 after buying an additional 78 shares during the last quarter. Voss Capital LLC grew its holdings in shares of Asbury Automotive Group by 5.8% in the 3rd quarter. Voss Capital LLC now owns 179,647 shares of the company’s stock worth $41,331,000 after acquiring an additional 9,825 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Asbury Automotive Group by 35.4% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,350 shares of the company’s stock worth $1,231,000 after purchasing an additional 1,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Asbury Automotive Group by 22.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,252 shares of the company’s stock valued at $748,000 after purchasing an additional 597 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of Asbury Automotive Group in the 3rd quarter valued at $297,000.

Asbury Automotive Group Stock Performance

Shares of Asbury Automotive Group stock opened at $221.97 on Friday. Asbury Automotive Group, Inc. has a 12 month low of $178.40 and a 12 month high of $256.39. The company has a quick ratio of 0.45, a current ratio of 1.06 and a debt-to-equity ratio of 0.96. The stock has a market cap of $4.48 billion, a PE ratio of 7.76 and a beta of 1.18. The business has a fifty day simple moving average of $216.87 and a 200-day simple moving average of $213.25.

Asbury Automotive Group (NYSE:ABG) last announced its quarterly earnings data on Thursday, April 25th. The company reported $7.21 EPS for the quarter, missing analysts’ consensus estimates of $7.78 by ($0.57). The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.26 billion. Asbury Automotive Group had a return on equity of 21.68% and a net margin of 4.07%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.37 earnings per share. On average, sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 31.46 EPS for the current fiscal year.

Insider Transactions at Asbury Automotive Group

In other news, SVP Jed Milstein sold 3,955 shares of Asbury Automotive Group stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $209.00, for a total transaction of $826,595.00. Following the completion of the sale, the senior vice president now directly owns 8,300 shares in the company, valued at approximately $1,734,700. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Craig Hallum lowered shares of Asbury Automotive Group from a “buy” rating to a “hold” rating and set a $230.00 price objective for the company. in a research note 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.