Denali Advisors LLC Boosts Holdings in Asbury Automotive Group, Inc. $ABG

Denali Advisors LLC increased its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 164.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,222 shares of the company’s stock after buying an additional 13,208 shares during the period. Denali Advisors LLC’s holdings in Asbury Automotive Group were worth $4,935,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ABG. Torren Management LLC bought a new position in Asbury Automotive Group during the fourth quarter worth about $27,000. Quarry LP boosted its position in Asbury Automotive Group by 319.2% during the third quarter. Quarry LP now owns 109 shares of the company’s stock worth $27,000 after purchasing an additional 83 shares during the period. Bogart Wealth LLC boosted its position in Asbury Automotive Group by 52.4% during the fourth quarter. Bogart Wealth LLC now owns 128 shares of the company’s stock worth $30,000 after purchasing an additional 44 shares during the period. Osaic Holdings Inc. boosted its position in Asbury Automotive Group by 69.2% during the second quarter. Osaic Holdings Inc. now owns 132 shares of the company’s stock worth $31,000 after purchasing an additional 54 shares during the period. Finally, Salomon & Ludwin LLC boosted its position in Asbury Automotive Group by 76.0% during the fourth quarter. Salomon & Ludwin LLC now owns 132 shares of the company’s stock worth $32,000 after purchasing an additional 57 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABG. Bank of America began coverage on shares of Asbury Automotive Group in a research report on Wednesday, March 4th. They set a “buy” rating for the company. Stephens cut their price objective on shares of Asbury Automotive Group from $277.00 to $254.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. JPMorgan Chase & Co. reduced their price objective on shares of Asbury Automotive Group from $235.00 to $220.00 and set an “underweight” rating for the company in a research note on Thursday. Weiss Ratings lowered shares of Asbury Automotive Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, April 29th. Finally, Barclays increased their target price on shares of Asbury Automotive Group from $230.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 7th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Asbury Automotive Group has an average rating of “Hold” and a consensus price target of $238.00.

Asbury Automotive Group Stock Performance

NYSE ABG opened at $199.95 on Friday. Asbury Automotive Group, Inc. has a 1 year low of $184.61 and a 1 year high of $274.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.94 and a quick ratio of 0.35. The stock has a market capitalization of $3.72 billion, a PE ratio of 7.08, a P/E/G ratio of 1.08 and a beta of 0.78. The company’s 50 day simple moving average is $200.72 and its two-hundred day simple moving average is $223.16.

Asbury Automotive Group (NYSE:ABG) last posted its earnings results on Tuesday, April 28th. The company reported $5.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.62 by ($0.25). Asbury Automotive Group had a return on equity of 13.39% and a net margin of 3.05%.The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the prior year, the company earned $6.82 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts predict that Asbury Automotive Group, Inc. will post 26.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director B. Christopher Disantis acquired 500 shares of Asbury Automotive Group stock in a transaction on Tuesday, March 10th. The shares were acquired at an average cost of $202.30 per share, with a total value of $101,150.00. Following the transaction, the director owned 5,400 shares in the company, valued at $1,092,420. This trade represents a 10.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.75% of the stock is owned by corporate insiders.

Asbury Automotive Group Company Profile

Asbury Automotive Group, Inc (NYSE:ABG) is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.