Covestor Ltd Buys 311 Shares of Asbury Automotive Group, Inc. (NYSE:ABG)

Covestor Ltd boosted its holdings in Asbury Automotive Group, Inc. (NYSE:ABG) by 13.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,576 shares of the company’s stock after acquiring an additional 311 shares during the quarter. Asbury Automotive Group makes up approximately 0.4% of Covestor Ltd’s holdings, making the stock its 23rd biggest holding. Covestor Ltd’s holdings in Asbury Automotive Group were worth $626,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. State Street Corp boosted its stake in Asbury Automotive Group by 0.5% in the third quarter. State Street Corp now owns 801,391 shares of the company’s stock valued at $191,204,000 after buying an additional 3,672 shares in the last quarter. Madison Investment Advisors LLC acquired a new stake in Asbury Automotive Group in the fourth quarter valued at about $82,426,000. Norges Bank acquired a new stake in Asbury Automotive Group in the fourth quarter valued at about $82,079,000. Charles Schwab Investment Management Inc. boosted its stake in Asbury Automotive Group by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 211,766 shares of the company’s stock valued at $51,465,000 after buying an additional 3,273 shares in the last quarter. Finally, Artisan Partners Limited Partnership acquired a new stake in Asbury Automotive Group in the fourth quarter valued at about $51,118,000.

Insider Activity

In related news, COO Daniel Clara sold 1,217 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $296.64, for a total transaction of $361,010.88. Following the transaction, the chief operating officer now directly owns 3,747 shares in the company, valued at $1,111,510.08. This trade represents a 24.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Craig Hallum lowered Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Stephens lifted their target price on Asbury Automotive Group from $220.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. cut their target price on Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $263.00.

Asbury Automotive Group Stock Performance

Shares of NYSE ABG traded down $11.46 during trading on Thursday, reaching $221.75. 20,257 shares of the stock traded hands, compared to its average volume of 196,857. 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 current ratio of 1.20 and a quick ratio of 0.41. The company has a 50-day moving average of $256.49 and a 200-day moving average of $250.27. The stock has a market capitalization of $4.36 billion, a P/E ratio of 10.31 and a beta of 1.04.

Asbury Automotive Group Company 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.