Asbury Automotive Group, Inc. (NYSE:ABG) Shares Acquired by Atria Investments Inc

Atria Investments Inc lifted its position in Asbury Automotive Group, Inc. (NYSE:ABG) by 51.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,520 shares of the company’s stock after purchasing an additional 860 shares during the quarter. Atria Investments Inc’s holdings in Asbury Automotive Group were worth $601,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its position in Asbury Automotive Group by 366.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 189,586 shares of the company’s stock worth $45,233,000 after purchasing an additional 148,910 shares during the period. Eminence Capital LP grew its stake in Asbury Automotive Group by 41.5% in the 2nd quarter. Eminence Capital LP now owns 498,542 shares of the company’s stock valued at $113,603,000 after acquiring an additional 146,246 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Asbury Automotive Group by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,056,825 shares of the company’s stock worth $240,818,000 after purchasing an additional 69,975 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Asbury Automotive Group during the 3rd quarter worth approximately $154,270,000. Finally, Khrom Capital Management LLC acquired a new position in Asbury Automotive Group in the 2nd quarter valued at $14,572,000.

Asbury Automotive Group Price Performance

Shares of NYSE:ABG opened at $250.47 on Wednesday. Asbury Automotive Group, Inc. has a 52 week low of $195.09 and a 52 week high of $277.13. The company has a 50-day moving average price of $234.55 and a 200 day moving average price of $235.14. The company has a market cap of $4.91 billion, a P/E ratio of 14.17 and a beta of 1.16. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98.

Asbury Automotive Group (NYSE:ABG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $6.35 earnings per share for the quarter, missing analysts’ consensus estimates of $6.58 by ($0.23). The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Asbury Automotive Group had a net margin of 2.16% and a return on equity of 16.51%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm earned $8.12 earnings per share. Research analysts predict that Asbury Automotive Group, Inc. will post 25.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on ABG. Craig Hallum increased their price target on Asbury Automotive Group from $240.00 to $260.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Seaport Res Ptn lowered shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Bank of America lowered their target price on Asbury Automotive Group from $310.00 to $305.00 and set a “buy” rating for the company in a report on Monday, October 14th. Morgan Stanley upgraded shares of Asbury Automotive Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $190.00 to $240.00 in a research note on Wednesday, September 25th. Finally, StockNews.com upgraded shares of Asbury Automotive Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $256.20.

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.