Geode Capital Management LLC Trims Stock Position in Asbury Automotive Group, Inc. (NYSE:ABG)

Geode Capital Management LLC cut its stake in shares of Asbury Automotive Group, Inc. (NYSE:ABG) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 454,559 shares of the company’s stock after selling 12,051 shares during the quarter. Geode Capital Management LLC’s holdings in Asbury Automotive Group were worth $110,496,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. CIBC Private Wealth Group LLC increased its position in shares of Asbury Automotive Group by 9.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 484 shares of the company’s stock worth $117,000 after acquiring an additional 41 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Asbury Automotive Group by 234.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 501 shares of the company’s stock worth $122,000 after acquiring an additional 351 shares during the period. KBC Group NV increased its position in shares of Asbury Automotive Group by 52.3% during the fourth quarter. KBC Group NV now owns 769 shares of the company’s stock worth $187,000 after acquiring an additional 264 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Asbury Automotive Group by 17.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 839 shares of the company’s stock worth $204,000 after acquiring an additional 123 shares during the period. Finally, Stephens Inc. AR purchased a new position in shares of Asbury Automotive Group during the fourth quarter worth approximately $213,000.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ABG. Craig Hallum downgraded shares of Asbury Automotive Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Stephens increased their price objective on shares of Asbury Automotive Group from $220.00 to $260.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Asbury Automotive Group from $290.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $263.00.

Insiders Place Their Bets

In other Asbury Automotive Group news, COO Daniel Clara sold 1,217 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $296.64, for a total value of $361,010.88. Following the completion of the transaction, the chief operating officer now owns 3,747 shares of the company’s stock, valued at approximately $1,111,510.08. This trade represents a 24.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Asbury Automotive Group Price Performance

Shares of ABG opened at $232.52 on Thursday. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 10.81 and a beta of 1.04. Asbury Automotive Group, Inc. has a twelve month low of $201.68 and a twelve month high of $312.56. The company has a quick ratio of 0.41, a current ratio of 1.20 and a debt-to-equity ratio of 0.98. The company has a 50 day moving average of $256.49 and a two-hundred day moving average of $250.27.

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.